There should be a flexibility to choose if I want to pay from my Savings account or from any of the pot I have at the time of UPI payment.
I have a good amount invested in stocks and it has started paying a good amount of dividend. Now, I want to use this dividend income to sponsor my holiday trip every year. So, I will keep accumulating my dividend income into a specific pot and when I go for a trip I will pay directly from this pot for flight/train booking, paying for cab or to eateries.
So it will be a fully sponsored trip.
Use cases may vary but the idea is to have the flexibility to pay from any of the account or pots available.
P.S. For DC transactions it won’t work.
A credit card against the FD of a super pot with offer would also be another great idea. Isn’t it?
Can’t really comment on the use case. But, in general, this sounds like an overkill.
A few points why I think so:
A product should be simple, especially those taking care of your money. Imagine how would your bank statement look like? How would the payment page look like - with tens of Pots to choose from. How would the expense tracking be like.
The whole purpose of pots is to put money “aside”. If it is readily available to pay from on the payments screen then it is more like having just another bank account. Liquidity is neither a feature of pots, nor should be the purpose.
I am certainly not against innovative features. If Jupiter team can implement this in a way which does not change general human psychology about pots, then all up for it.
But a single point of “money-in” and “money-out” along with the assurance of funds kept aside untouched is good enough, keeps life simple - as it should be. Micromanagement is a silent killer.
Well, although I agree with point# 1, but not with point# 2.
My interpretation of pots is, it is not used only to put money aside but to use them as an when required. For example - if you created a pot for medical expenses then whenever you will incur these type of expenses e.g. doctor fees or pharmacy orders, you can use respective pot.
If simplicity of account management or payment page is getting affected by this then another way of achieving is I can mark a particular transaction (there should be an option for custom categories along with existing ones) and later in the month I can manually withdraw money from the respective pot.