![]() ![]() The app also offers the option to save for your older age through its Plum self-invested personal pension (SIPP). Plum* is an algorithm-based app that helps you save money and invest with minimal effort. – For more on savings check out our best savings account guide. ![]() – The option to save money automatically is only available through Chip’s paid-for accounts – Chip is covered by the Financial Conduct Authority and the Financial Services Compensation Scheme (FSCS), which means your money is protected up to £85,000 – Pays interest of 4.26% AER on its instant access savings account – Offers spending analysis and the option to set savings goals – Allows users to invest money through the app, through a partnership with investment provider BlackRock This money is then transferred from your linked current account into your Chip savings account – Calculates an amount you can afford to save without having an impact on your day-to-day expenditure. Chip is free to use, but its premium account ChipX costs £5.99 a month. Push notifications that will track incoming and outgoing payments, and alert you to when you are at risk of going over your budget.Īs well as being a budgeting app, Chip *offers its own savings account that pays interest of 4.26% AER (variable) on up to £250,000 in instant access savings, as well as the option to invest through the app.Some apps will offer alternative choices that can save you money. Suggesting where you can reduce your bills.Every time you spend money, the payments are rounded up to the nearest pound and the difference – the “small change” – is set aside in a separate savings or investment account. Many will give this information on their website. So if you want to link all your financial accounts, make sure your provider is covered. Some, for example, don’t include credit card provider Jaja or banks such as Metro or Virgin Money. Are you looking to save money for a particular goal (such as a holiday)? Or do you want to invest your money in the stock market?Īnother point to consider is whether your bank can be linked with the app. How to choose a budgeting appīudgeting apps will vary in what they offer, and it’s worth thinking about what is important to you. Some will offer more advanced features, such as automatic “round-up”, which we discuss below.Īny apps you use should be authorised through the City watchdog the Financial Conduct Authority, meaning they have to comply with strict regulations that protect the consumer.Īs energy costs rise, here are ways to lower your household bills. ![]()
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