'I saved £57k by age 26 - one simple system changed everything for me'
A budgeting guru has shared a 'simple system' that he says 'changed everything' for him. TikTok user @moneywithtao regularly talks about his finances on social media. In one post, he claims he saved £57,000 by age 26 without starting any side hustles, and he credits his success to his budgeting method.
Sharing what worked for him, @moneywithtao wrote: "If you struggle to save defo try this system. It helped me build £57k without worrying." He explained: "I can show you now exactly how I did it.
"A critical factor is Monzo pots. I'll show you. So I use Monzo for these here. These are the pots I've created. Now when I get paid, I know how much to put in each month into each pot. So when it's payday, I know how much to put in straight away."
In the video, the content creator showcased his multiple pots, which were titled groceries, holidays, gifts, and guilt-free spending. He also said he has created virtual cards for his pots.
@moneywithtao explained: "If I click on my guilt-free one here, I'm able to link a card. It can create a virtual card for you. What's cool here, you can pay directly out of that. You can have as many cards as you want.
"This is my groceries one here, and this is my eating and drinking out one. Also, this is where I keep my emergency fund and personal saving. It has helped me massively. Really encourage you giving it a go."
Monzo's website explains people can create virtual cards for budgeting. It says: "Virtual cards are extra cards that you can create and delete as you like for budgeting and security. If you have a virtual card, you can set it up to pay directly from a Pot.
"Virtual cards also let you buy online without the risk of your physical card details falling into the wrong hands. If in the future you think someone has got hold of the card details, you can delete the virtual card and create a new one.
"You can have up to 5 live virtual cards at any time and can create up to 9 every 30 days, with a maximum of 100 per year. Virtual cards can be linked to your Apple or Google wallet."
Concluding his video, @moneywithtao claimed: "I saved £57,000 by 26 — no six-figure salary, no side hustle. Just a simple system using Monzo Pots. Automating my savings, naming my goals, and separating my money made it easy to save without feeling restricted. If you feel like saving is hard or overwhelming, start with just one Pot. It changed everything for me."
In a recent post, the content creator also shared a video explaining how he budgets his yearly income, which included a £70,000 base salary and a £32,400 bonus. He wrote: "Most people focus on how much they earn, but the real game-changer is knowing how to split that money once it lands in your account. Here's a simple framework you can use to take control of your salary from day one:
1. Work out your true take-home pay – That's after tax, NI, pension, and any loan repayments.2. List your essentials – Rent/mortgage, bills, food, transport, insurance. Total this up so you know your 'must-pay' costs.3. Set your savings & investing target – Decide what % you'll pay yourself first before spending on anything else.4. Define your fun money – The guilt-free pot for dining out, shopping, travel, hobbies.5. Review & adjust monthly – Your expenses and income will change; your budget should too."
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