The UK has some of the best digital banking infrastructure in the world for implementing a jars-based budgeting system — and most people don’t take advantage of it.
Monzo Pots, Starling Savings Spaces, and Revolut Vaults all do essentially the same thing: let you divide your money into named, purpose-specific pots without opening multiple bank accounts. This is the 6 jar method built directly into the product.
Here’s how to use each one.
Monzo: Pots
Monzo is the UK’s most popular digital bank, and their Pots feature is the most intuitive implementation of envelope/jar budgeting available to British consumers.
How Pots work:
- Create multiple Pots inside your Monzo account — each with a custom name, emoji, and savings goal
- Set up Scheduled Payments to automatically move money into each Pot on payday
- Lock a Pot until a target date or amount is reached (useful for long-term goals)
- Pots earn interest if you use a Monzo savings pot (interest rates vary — check the app for current rates)
The 6 jar setup with Monzo:
| Jar | % | Where in Monzo |
|---|---|---|
| Necessities | 55% | Main current account |
| Play | 10% | “Play” Pot |
| Education | 10% | “Education” Pot |
| Long-term savings | 10% | “Savings” Pot (with interest) |
| Financial Freedom | 10% | Transfer to ISA or investment account |
| Give | 5% | “Give” Pot (or donate manually each month) |
Monzo’s killer feature for this system: Scheduled Payments from Pots. You can pay rent, bills, and direct debits directly from a specific Pot — keeping your Necessities spending completely separate from your Play or Education money.
Starling Bank: Savings Spaces
Starling Bank is another UK digital bank with a strong reputation for transparency and no-fee banking. Their equivalent of Pots is Savings Spaces.
How Spaces work:
- Create up to 5 Savings Spaces in the free account
- Each Space has a name, goal amount, and visual progress tracker
- Transfer money in and out instantly
- Your main account and Spaces all share the same account number and sort code — but are visually separate in the app
Starling tends to appeal to users who prefer a cleaner interface and those who want joint accounts (Starling’s joint account Spaces feature is particularly well-designed for couples budgeting together).
Revolut: Vaults
Revolut’s Vaults work across 25+ currencies, making them particularly useful if you have income or expenses in multiple currencies — common for remote workers, expats, and frequent travellers.
Vault types:
- Regular Vault: Manual or scheduled transfers
- Round-Up Vault: Every purchase rounds up to the nearest £1 (or your chosen amount), difference goes to the Vault
- Group Vault: Shared savings with other Revolut users (great for couples or flatmates saving together)
For the Financial Freedom jar (10%), Revolut also offers Revolut Invest with access to stocks and ETFs directly from the app.
The Financial Freedom Jar in the UK
The 10% Financial Freedom allocation needs to grow, not just sit in a savings account. UK-specific options:
- Stocks and Shares ISA: The most tax-efficient vehicle for long-term investing in the UK. No capital gains tax, no tax on dividends. Providers: Vanguard UK (lowest cost index funds), Hargreaves Lansdown, or Freetrade
- Lifetime ISA (LISA): If you’re 18-39 and saving for your first home or retirement, the government adds 25% to every £1 you put in — up to £1,000 free money per year
- Premium Bonds (NS&I): Government-backed, prize-based savings — technically your “prize rate” equivalent is competitive and winnings are tax-free
Which one should you use?
- Monzo if you want the most polished experience and direct debits from specific Pots
- Starling if you want joint account Spaces or prefer a simpler interface
- Revolut if you deal with multiple currencies or want investment access in the same app
All three are free at the base tier and covered by the Financial Services Compensation Scheme (FSCS) up to £85,000.
The method is the same everywhere
Whether you’re using Monzo Pots in London, Ally Buckets in New York, or Nequi bolsillos in Bogotá — the underlying principle of the 6 jar system is identical: give every pound (or dollar, or euro) a job the moment it lands.
The tools just make it easier to follow through.
Manage your jars, track every transaction, and see exactly where you stand — WealthMind Path is free, offline-first, and works anywhere in the world.