5 of the Best Apps to Help you Save – Even if you’re Crap with Money
If you’re sick of finding a little too much month at the end of your money, these apps could be a massive help in bidding farewell to your overdraft.
The technology varies in approach, some offer discount, others monitor your bank account and move unspent funds out of your reach and another vows to transform you into a sensible budget-making grown-up.
Whether you’re trying to save for a house, holiday, or a fund in case of costly emergencies, these smartphone apps could help you along the way.
Chip’s clever algorithm calculates how much money you can afford to save by monitoring users’ every day spending over a week.
The amount is then automatically moved into a Chip savings account.
The app is set up to ensure it only has read-only access to user’s bank accounts and savings can be withdrawn at any time.
Best bit: The money is moved over automatically so you save with little to zero effort.
Folio is basically the opposite to Chip. Hey, different strokes for different folks and all that.
Rather than the app automatically move money over to a savings account, Folio aims to help teach a generation of people how to save.
Best bit: The app allows you to save for multiple targets at once.
The Quidco app isn’t a banking app, although it can save you money on essentials – and luxuries.
The app has a varied range of retailers – more than 4,300 in total – which offer cashback on a range of products and services from car insurance and phone tariffs to clothes and takeaways.
Best bit: The average member earns around £305 cashback per years for doing their online shopping through Quidco.
Monzo is a banking app that offers an entirely separate (contactless) bank card that can be topped up from your regular account.
The app provides instant balance updates every single time you make a purchase.
It also allows users to set up various spending budgets for groceries, transport, entertainment and other categories.
Your spending and saving is all immediately visible to browse on the app.
Best bit: Very useful to piece together exactly where and what you’re spending you’re money on.
If you’re getting serious about saving for a house then the ClearScore app will allow you to closely monitor your credit report.
The app provides free access to your rating and financial information which banks and other lenders use to make decisions about who they approve for mortgages or other loans.
The app tracks progress on a month-by-month basis which allows you to steadily improve your financial situation.
Data presented by the app offers users with tailor-made suggestions for financial services which would suit their unique needs.
Best bit: Provides useful information and feedback dependent on your needs.