It’s no secret; your personal spending habits have a big impact on your household finances. If you’re a spendthrift, bent on scoring every possible bit of savings, you’re probably doing about as much as you can to cut unnecessary spending. But if you’re like most Britons, prone to budget missteps, there’s plenty of room to improve your money handling habits.
Once you’ve resolved to improving your financial outlook, there are many ways to get the ball rolling, saving cash. Both large and small, money savings methods range from saving a few pounds on your supermarket shop, to getting the best possible rate on a UK payday loan. In fact, there are so many ways to save money and dial back your household spend, that a little help keeping tabs on your money is always welcomed. Financial apps provide exactly that, offering various features for home money managers.
You can use personal finance apps to put by savings, account for cash flow, manage bills, and complete a host of additional individual finance tasks. If you need a lift, trimming spending, putting by savings, and maintaining better financial balance, lean on these useful money apps.
Technology Provides Partners for Personal Finance
One way to increase your savings is to make a firm commitment to cut back household spending. This can itself be an obstacle, because the thought of reducing spending immediately conjures thoughts of drastic lifestyle changes. Fortunately, sensible budgeting isn’t feast or famine; you can spend money responsibly, and still maintain the lifestyle you enjoy today. Money-saving apps are perfect partners for conscientious Britons dedicated to financial balance.
Chip – You wouldn’t think an app could work out your savings better than you can, but Chip may give you a run for your money. This useful savings app relies on AI algorithms to analyse your finances and determine how much you can afford to save, without disrupting the financial flow of daily life.
Chip is designed to automate the saving process, taking day-to-day moves out of your hands. Always running in the background, the app is connected to your current account. Using complex calculations about your finances, the app reserves small amounts of periodic savings, which it then moves to your Chip account. Users benefit, because the app does the maths and builds savings without a lot of active participation.
Chip rewards users for referrals. The app adds 1 per cent interest to your Chip account, for every friend who signs up using your promo code.
Save The Change – Lloyd’s helps customers save with this inventive account add-on. It isn’t really an app, but Save the Change does some of the work for you, making it easier to save without feeling the pinch. The straightforward account feature rounds up your debit card purchases to the next pound. With each transaction, the round-up is sent directly to your Lloyd’s savings account. Of course your total monthly savings is tied to your spending habits, but you may be surprised how quickly the bits add up to real savings.
Monzo – Keeping tabs on spending frees money for your savings account, so apps that help you budget and mind outgoings are valuable assets. Monzo pairs money management features with cards. You can make purchases abroad for free with Monzo, but you can also freeze your card when you need to put the brakes on spending. Users focused on savings can put by money for various needs, by setting up individual “pots” for each savings goal.
Plum – This AI chatbot automates the saving process, so you don’t have to spend time working out all the details. The intuitive chatbot learns your behaviour, linking to your bank account and transaction details, for an in-depth sense of what you’re spending money on each month. Equipped with a snapshot of your financial life, the tool follows-up by moving small amounts of cash to your savings account, without interfering with your ability to pay the bills.
If you need help budgeting and clamping down on wasteful spending, several worthy apps and finance aids can help you simplify and automate money management. Plum, Chip, and others tools are particularly useful for Britons set on saving more money for the future.