The Briefing

Pools: sub-accounts with depth.

Stay on top of things with our sub-accounts.

March 24, 2022
Reading time 2 min.

🌈 A quick taster for you:  

  • Sub-accounts are like digital piggy banks.
  • Set yourself monthly budgets.
  • Save for what's most important to you.

🧐 Why do I care?

Picture Scrooge McDuck swimming around in money in his money bin. Want that to be you? Well we love saving money too, but for hygiene and comfort reasons alone (coins are really uncomfortable to splash around in!), we’d like to recommend a more modern way to save and enjoy your money. That's why today it's all about our Pools. Ready to dive in? 

🔍 What exactly is happening here?

  • Why do you need sub-accounts?
    For most people, their main bank account is where all their earnings end up, and where they pay all the bills from — it’s a big pot of money which needs keeping track of. Basically, it's like Uncle Scrooge's money bin. There might also be a savings account — into which money can be easily deposited, but where it’s harder to take it out again. You know? You know!
    Over the course of a month, in addition to fixed costs such as rent or phone bills, there are always spontaneous costs. A book for the university here, a present for Aunt Erna there, and maybe there’s a little money being put aside for the next summer vacation. Uncle Scrooge has an exact accounting system for this, but before you go and create an Excel spreadsheet, we have a better solution for you. You guessed it: sub-accounts.
  • We call them Pools
    The wavje sub-accounts are called Pools — and they have more than a couple nice features. Think of an Pool as a digital piggy bank, except that you always have instant access to your money. And you don't just have a single Pool — you can open as many Pools as you want. Whether for new Birkenstocks, the planned gap year, or all your fixed costs. With a few clicks your Pool is opened, and you can easily transfer money to it and keep track of your finances. Nevertheless, you always have the possibility to access all your money whenever you need it. 
  • Pools 11, 12, 13 or 40
    As soon as you pay with your card, you can decide which Pool the money is debited from. This makes your spending and your budget mega clear. Let's say you’ve created an Pool for ‘Eating out’ and you notice that its monthly budget is already used up, then this can be a friendly reminder to maybe cook something cheap at home. But if your ‘party’ Pool still has money in it, then of course no one is stopping you from dipping into it — no one except yourself!You can also set individual savings goals for each of your Pools. Want to travel to another far-flung location this year? No problem! Create your ‘vacation’ Pool with a savings goal of idk, €1000. Once you're finally stepping onto the plane, simply connect your card to your ‘vacation’ Pool and check exactly how much budget you have available. If you're planning a trip with friends, you can of course simply create a shared Pool and have joint access to the budget.

🤓 What does this mean for me?

It’s time to let go of any worries about keeping track of your money. Just get organized with our Pools and divide your money into sub-accounts. You’ll have full visibility of where your money is going, and be better able to save for the things that are important to you right now. 

Which brings us to our question today: What are you saving for right now? Share your savings goals with us in the comments of our latest insta post (@owwnapp).

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