38 New Year, Fresh Start Finance & Legal Cyber savings
Looking to take better control of your fi nances this year? We’ve rounded up the best budgeting apps to protect your cash. Words: Leanne Macardle
Promotional Content • Saturday 13th January 2024
that amount automatically into a savings account or ‘pocket’. Paid-for plans will allow you to set up multiple pockets or investments to meet diff erent fi nancial goals, and the app can even consolidate pensions. T is makes it a great choice for those who are proponents of the 60% solution — where essential expenses are kept at around 60% of income, with the remaining 40% split into pots for retirement, short-term savings, long- term savings and disposable cash. T ere are four plans to choose from, ranging from the free package to the premium plan costing £9.99 a month.
withplum.com
PHOTOGRAPH: UNSPLASH A
new year presents a perfect opportunity to get your assets in order. Given that the cost of living won’t
be lessening any time soon, better budgeting will likely be at the top of many new year agendas. However, fi nancial resolutions are easier made than done, and it can be diffi cult to stick to a plan without any help. So, we’ve selected some digital solutions to do the hard work for you.
Emma First up is Emma, which can link multiple bank accounts and other fi nancial products (such as credit cards) to give a complete overview of the user’s fi nances. It can highlight unused subscriptions, set up savings goals and off er monthly savings prompts, making it ideal for anyone who wants to fi ne-tune their budget. Emma is also suited to those who favour the zero-sum approach to
budgeting, as every pound of income is itemised and accounted for. T ere are both free and paid-for plans available, ranging from £4.99 to £14.99 per month.
emma-app.com
Plum For those who prioritise saving, Plum could be the app to consider. It uses intuitive AI to analyse spending habits and calculate how much you can comfortably save, while putting
HyperJar HyperJar is a little diff erent from the rest of the bunch. Firstly, it’s not actually connected to a bank account, but rather to a prepaid card (digital or physical) that’s loaded with funds that are allocated into diff erent jars. T ese jars will typically include things like groceries or transport, and it’s even possible to link each jar to certain retailers — ideal for those looking to put a cap on their shopping. In essence, HyperJar can be thought of as the app-based alternative to the envelope budgeting system, where a spending limit is set for each category and cash is put in a corresponding envelope for the month. Doing it digitally can streamline the budgeting process and make it easy to see where your pounds are going — and stop them from going where they shouldn’t.
hyperjar.com
Snoop Another one for the zero-sum budgeters, Snoop is an app that can link bank accounts and credit
cards to help users keep track of their spending and highlight where cutbacks can be made. It also has handy additional features for extra money-saving potential, such as the ability to track bills and suggest cheaper utility or insurance providers, and tailored cashback and voucher codes based on where you shop. T e standard Snoop plan is free, while Snoop Plus off ers additional functionality for £4.99 a month.
snoop.app
Chip If you’re looking for an app where the focus is on meeting your savings goals, Chip is the one for you. It links to your bank account and calculates how much you can save each month and will automatically transfer small amounts into a chosen Chip savings or investment product. For even more control, there’s a recurring save feature, so that you can choose how much to save and when. Based on reverse budgeting, this means that you could set it up to transfer 20% of your income to Chip as soon as you get paid, ensuring that your base monthly savings goal is met. T e basic plan is free, while ChipX off ers more investment options and costs £5.99 a month.
getchip.uk
PHOTOGRAPH: UNSPLASH
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