Quidmarket will never charge you any fees. You should never pay upfront fees for a loan or send money in return for a loan.

Bucket Saving System Techniques

15 September 2020

This article looks at “Bucket System Saving”. For many people, having some money left over after the essentials are paid for can be difficult. Putting money into a savings pot can sometimes be counterproductive especially when it is just a small amount – seeing it grow slowly is pretty frustrating!

On the other hand, having savings lying around can be all too tempting to dip into making it impossible to reach your goals.

A new way of saving, known as Bucketing, has become popular, especially when saving smaller amounts. And, with new technology and apps designed to help with this, Bucketing is so much easier.

Plus, Bucketing takes all the stress of trying to monitor your finances if they are all in one pot away and makes it so much simpler to view, track and monitor your savings goals.

In this blog post, QuidMarket, the payday loans specialists, will be explaining the bucket saving system to help you save.

What is the Bucket Saving System?

Although the digital version of the bucket saving system has recently become popular, people have been saving like this for hundreds of years.

Imagine the old jars full of coppers or piggy banks with loose change. Essentially this is the same thing. Whatever spare change/cash you have goes into a little pot on your online banking/app.

The difference is, you can’t empty the pot until your goal has been reached.

Set Your Bucket Saving System Goals

First things first – decide what you want to save for. This could be from fun things like a Holiday fund or Christmas to the more mundane Quarterly Gas Bill.

Write a list of what you want to save for, label your Buckets and set your target amounts or date.

How Do I Create Buckets?

There are a few different ways of doing this. Opening up sub-accounts / savings accounts with your bank can be the simplest and most effective way, and can all be managed using the single login or online banking app.

For example, if you opened up 3 savings accounts with your current bank you can rename them “Holiday”, “Bills”, “Kids University”. See if your bank can put restrictions on withdrawals too, so you can only take money after a certain date/amount.

Nowadays, with high street banks and tech-based finance companies utilising Open Banking there are more and more apps designed to help with exactly this.

Some Bucketing and Savings Apps

There are lots of savings apps for your phone, tablet or computer. Here are a few of the more popular FREE ones on the market. QuidMarket isn’t associated with any of these apps so please go to your app store to see what’s available.

Money Dashboard

The clue is in the title! This app allows you to see all of your accounts in one easy to view dashboard. Once downloaded you can add your current accounts, savings accounts and credit cards allowing you to view them all on one screen.

Money Dashboard then allows you to set your savings/budgeting goals and buckets. Then, whenever you have the spare cash you can move it over. This app was the winner of “Best Personal Finance App” at the 2018 British Bank Awards.


Yolt is powered by ING Bank and has “security at its core”. To be fair, it’s pretty similar to Money Dashboard in that you can add all your UK accounts onto one place.

However, it has a clever feature where you can track your money to see where you are spending.

For example, you can open up buckets for eating out, grocery shopping or household bills. Yolt will then let you know how much you’ve spent on these things so far this month based on the transactions you make.

Once it’s in black and white it can be much easier to resist that cheeky take away on your lunch break and stick to the packed lunch!

Monzo, Revolut and Starling – “RoundUp Savings”

Monzo, Revolut and Starling are three online banks that offer a great feature on their app / online banking that can help boost your savings without you even noticing on feeling the pinch.

So long as your balance is over £10 you can move the spare change from your transactions up to the nearest pound into a savings pot.

It might sound insignificant but the little bits and bobs you won’t even miss can add up over the month.

Take a look at the various features on each and decide what is best for you. Some accrue interest, others allow foreign exchange so choose what is right for you depending on your needs.


Chip uses Artificial Intelligence to work out an amount to save for you based on your incomings and outgoings.
Once you’ve registered your accounts Chip will analyse your transactions and work out the perfect amount for you to save this month without you having to do anything.

It’s designed to make savings for you “without you even noticing it”.

If you want to save more or less you can adjust the settings. Chip also allows you to create Buckets for your own personal savings goals.

Do your research

As with any financial decision, it’s always important to do your own research or get advice from a financial advisor. This blog is not designed to provide financial advice so please make decisions that affect your finances carefully.

QuidMarket are a short term loan provider regulated by the FCA. We offer an alternative to payday advance loans, which are designed to help in an emergency situation.

Related Articles and Blogs

Apply Today for a QuidMarket Loan

Need a short term loan to help you today? Choose the amount and repayment term you need using our easy loan calculator below. Apply for up to £1,500 today, with new customers eligible for up to £600, and choose repayments between 3 – 6 months.

I Would Like To Borrow

£300 £1500
Apply Now

Month 1


Month 2


Month 3


Month 4


Month 5


Month 6


Warning: Late repayment can cause you serious money problems. For help, visit: www.moneyhelper.org.uk