How to start a ‘Spontaneity Fund’ for last-minute trips

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Holidays usually require a fair amount of forward planning – knowing when you want to go, exactly how much you need for your trip and how long it’ll take you to save.

But you might prefer to be spontaneous and want to take advantage of cheaper deals, especially right now. If so, consider starting a ‘Spontaneity Fund’.

Spontaneous travel obviously isn’t essential and it may not be a priority at the moment.

But if it appeals and you’re able, take inspiration from Josh*, 26, a software developer on £60k who works remotely, splitting his time between Europe and living at home in Southampton with his two cats.

A lifelong travel lover, Josh has a Monzo Pot for his Spontaneity Fund, which he dips into without guilt if he spots a particularly attractive last-minute package holiday online, or wants to visit his partner in Estonia.

Josh has ADHD and struggles with impulse control, so he appreciates being able to organise his money visually into Pots (with custom images from his travels) and keep his finances under control, while factoring spontaneous travel into his budget.

If you love a last-minute adventure and your circumstances allow, here’s how to set up your own Spontaneity Fund with Monzo.

1. Work out if you really need one

If you love travelling and want to be able to go on trips without needing to dip into your money for other things, a Spontaneity Fund could be really useful.

It’ll make impromptu day trips, last-minute package holidays and staycations possible and guilt-free.

But if you’re a meticulous planner who likes to know where you’ll be each day for the next year, you might not need one.

2. Create a Pot for your Spontaneity Fund

You’ll need a dedicated space for your fund so it’s separate from other holiday Pots and everything else you’re saving for.

Create a Pot for your Spontaneity Fund in Monzo:

  1. Tap your display photo in the top left corner of the Home tab

  2. Tap Create Pot and choose a Regular Pot

  3. Name it ‘Spontaneity Fund’ and add a custom image that’ll inspire you to keep it topped up


To apply for a Monzo current account and access Pots you must be a UK resident, Ts&Cs apply.

3. Decide how much you need in your fund

You’ll need to factor your Spontaneity Fund into your budget. First, pick a goal amount to keep in your Pot. For example, Monzo user Josh (we changed his name), whom we spoke to recently, keeps £500 in his Spontaneity Fund at all times.

This allows him to take last-minute working holidays to Spain or visit his partner in Estonia whenever he feels like it.

Keep less or more in your own Spontaneity Fund, depending on your budget and the types of trips you want to take.

Base your amount on how much of a priority your Spontaneity Fund is versus your other savings goals. 


4. Contribute a set amount every week, month or pay day

Once you’ve chosen how much money you want to keep in your Spontaneity Fund, deposit a set amount into it every week, month or pay day until you hit your target.

Automate your savings by setting up a standing order from your current account into your Pot. To do this:

  • Tap your Spontaneity Fund Pot

  • Tap Add

  • Tap Set scheduled payment

5. Prioritise other things if you need to

Times are tough right now. If you’re going through a period of earning less than usual or you’re hit with an emergency expense, don’t feel bad about pausing your contributions or using the money for something more important.

6. Dip into your Spontaneity Fund for guilt-free adventures

Your Spontaneity Fund is there to stop you from dipping into your emergency fund or long-term savings to cover impromptu trips.

The point is that you don’t feel guilty about going away – because you’ve budgeted to cover it. So, relish every moment while you get to enjoy the fruits of your labour!