Hello… I’m new to this but I’m loving Starling.
There’s one thing, however, that’s been brought up a few times but I haven’t found it being really addressed yet. So I thought I’d try. Direct debits, standing orders, bills and spending money being separated? Like many people here I use multiple accounts to separate what I can and can’t spend. Would it in any way be possible to make some kind of “outgoings folder”, whereby you can allocate funds for paying bills and other payments, which you can then just leave alone.
I’m not asking for it to be “predicted”, as some have suggested, based on “averages” or previous months. I don’t even want Starling to move it for me. But I think just the addition of a “place”, or a “pot”, similar to the savings goals idea, where you can move money away from your immediate grasp, would alleviate a LOT of people’s needs for a second account.
I’ve seen some comments also about not being able to predict the future, about bills being more than expected or things changing, and how the app wouldn’t know. But by doing it yourself it doesn’t matter. Because you should know if your rent went up or you’ve used your phone a lot more. And doing it yourself solves any issues with being paid over different periods too. For example, I get paid 4 weekly. My monthly outgoings are normally about £2300, so I could just stick that aside, in a dedicated outgoings folder. Instead of an entire separate account. And just see what’s left. And sometimes I get paid twice before a particular bill goes out, so I could just shove a bit less in for that pay-period. I know how much to transfer because I know my budget. It would be that simple.
Is this something anyone agrees with? Is this something that could happen? To me it would be the single best feature you could introduce. Basically, “I’ve just got paid. This months bills are £x so I’ll stick that in there and they’re all covered. This is what I’ve got left. Anyone fancy a curry?”
I guess if your bills or paydays marry up a bit better it could be done automatically.
It would have the added bonus that, if you haven’t transfered enough, it’s still the same account so it can just get more money, assuming there is any. And if there isn’t, because you’ve spent it, you’d be broke whether it was a second account or not! So that’s not a difference.
Thanks for reading what could probably have been asked in two sentences, but I’m tired and wasn’t sure I was saying it right.