Meet Three Apps We Love That Can Help You With Your Money

If money makes the world go round (as the old saying goes), and you want to feel on top of the world, then you need to be on top of your money, right? With more and more of us having all sorts of different accounts for different things and money moving around left, right and centre, it’s no wonder that many people feel like they’re only just about managing to keep up with their financial comings and goings, let alone on top of them. Thankfully, good old technology has stepped into the breach to make managing any and every aspect of your finances something you can do from the palm of your hand. With a little help from these awesome apps, you can make the confusing spreadsheets, paper statements and scribbled notes you used to use to keep tabs on your cash a thing of the past.

By the way, we’ve not been paid to tell you about any of the apps or services you’re about to read about. We just think they’re great!

Plum

We love Plum, and not just because we share a fondness for all things purple! Plum is the way to save for people who think they don’t have any spare cash to squirrel away, or are already saving everything they can.

It’s powered by super-clever artificial intelligence that links up to your bank account, analyses your spending to work out when you can afford to spare a few quid, and then squirrels that money away for you every so often. You can set a savings “mood” depending on how much or little you want to save, and even take part in challenges like the “52-week Challenge” or “Round-ups” to give you a boost.

Once you’ve got a Plum savings pot, you can decide whether to invest some or all of it in the stock market (which comes with risks and you could lose your money), or divide it up into pockets to help you save up for specific things. If you sign up for their paid-for Plus or Pro subscriptions, you can earn interest on your savings, too!

Want your money back? No bother. You can withdraw from your Plum savings any time and get the money back in your account within a few hours in most cases. If you’re withdrawing from investments or a pocket that earns interest, it might take longer, though.

Money Dashboard

Online banking apps are getting better at breaking down your spending to show you where your money’s going, but if you have a few accounts, or do most of your spending on a credit card and pay the bill from your bank account every month, then you still have to check a few different apps to see what’s going on! That’s where Money Dashboard comes in. Through the magic of open banking, you can connect all your accounts – bank accounts, credit cards, and even pension and investment accounts – to see all your money coming and going in one place.

Once you’re connected, Money Dashboard shows you your transactions, and even groups them together so you can see what categories you spend the most on, and which shops you shop in the most! With everything laid out at a glance, you’ll see how all those small spends add up and where you have the chance to cut back.

Once you’ve got to grips with where your money’s going, you can set budgets by spending category to help you keep tabs on your spending and stick to a limit if you need to. Working to a grocery budget? Track it here. Trying to avoid big shopping splurges? Set a budget for yourself to stick to.

And that’s not even the best bit! With Money Dashboard's "Balance After Bills" feature, you can see how much of your money you need to set aside to cover your bills and how much is safe to spend, without you having to do the sums! Nifty, eh?

Moneybox

Lots of people think putting away savings or having investments is something you can only do if you’re already super rich. And in a lot of cases, that’s not far off the truth. But not with Moneybox.

Through Moneybox, you can open a variety of saving and investment accounts to help you stash money away for your future. For the savers, there are Lifetime ISAs and “Notice” savings accounts to help you save up for both short and long term goals. And, for the investors, there are Stocks & Shares ISAs and General Investment Accounts (GIAs) to choose from. You can even open a personal pension account to build up a pot especially for your retirement, separately to any workplace pension schemes you’re part of.

Moneybox’s savings accounts can be opened with as little as £1 – so you don’t have to have a big pot of cash ready and waiting to be eligible, and you’re not required to save a certain amount each month to keep the account active. Of course, in the case of Lifetime ISAs, where the government top up your savings by 25%, the more you put in (up to the bonus cap of £4000 a year), the more you get back out!

Their investment accounts are just as accessible. Like the savings accounts, their Stocks & Shares ISA can be opened with as little as £1, and enables you to invest up to £20,000 a year without paying tax on any gains you earn. Their General Investment Account allows you to start investing in all sorts of companies, including socially responsible options, with as little as £2 a week – ideal if you’re just dipping your toe into the world of investments, or don’t want to put much of your money on the line.

With Moneybox investment accounts, you can also set how risky you’re prepared to be with the money you put in. The more “adventurous” you decide to be, the bigger the gains you stand to make. But, there’s also a bigger chance of you losing money, so never invest any money that you can’t afford to lose.

As well as helping you open accounts in just a few taps and swipes, you can also easily keep track of your Moneybox accounts to see how your savings and/or investments are faring at a glance, add extra money in, or withdraw if you need to.

Plus, their app features all sorts of cute woodland creatures like owls and foxes – what’s not to like?!

Remember, if you choose to invest money through any of the apps we’ve talked about here, then you will be putting your capital at risk. Stock markets go down as well as up, so there’s no guarantee that you’ll make money, and could lose it. We recommend only investing money you know you can afford to be without.