If you're hoping to save some extra cash for your next holiday, a mortgage or just a rainy day, you might want to take a look at the Money Pot method. 

The viral TikTok hack has accumulated 5.1 million views on the social media platform, with people sharing their saving tips. 

The method is simple to do and is a great way to save some extra cash. 

What is the Money Pot method?

To do the method, all you need to do is divide your money into separate pots for different expenses. 

This can include cars, bills, rent, mortgage and emergency savings. 

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Doing this means you can add money to each of the pots but will only be able to break the pot at the time you need it for. 

And if you don't want to buy any pots, you can just use some old jam jars and make sure not to open them. 

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READ MORE: You can save £5000 in 100 days using the TikTok 100 Envelope Challenge

Your Money Matters

Your Money Matters is a campaign launched by us and our sister titles across Newsquest to help you overcome the surge in the cost of living.

This year has seen a whole host of household price increases — from the energy price cap rise to surging inflation and food prices — costing your family hundreds or even thousands of pounds extra per year.

We’re making it our mission to look out for your cash, offering money-saving deals, competitions, giveaways and insightful stories from your community on the impact this cost-of-living crisis is having on our readers.

The worldwide energy crisis exacerbated by the Ukraine invasion, the financial impact of the Covid pandemic, record inflation figures and a surge in the cost of goods, fuel and travel means we will all feel the pinch.

Through our newspaper, we want to do what we can to help make your cash go further because we know your money matters.