As we enter into the new year, it's the best time to get your finances in check and up your money management. Looking to save for a new car, house or holiday in the new year? Or are you looking to rebuild your emergency fund? Whatever your goals are for saving, here are a few apps that can help to take away the stress of manually transferring by automating it for you.


Plum



Plum is an app that helps you to gamify your savings. Using the power of AI technology, Plum monitors your income and outgoings to set aside amounts that are tailored to you. You can create pockets and goals within the app to help you to stay focused on your saving. Plum also analyses your spending to assess your regular bills and highlight areas where the app may be able to help you make additional savings. The app will notify you if there is a better deal that you can take advantage of and will allow you to switch in minutes.


Earn interest on your savings as well as access to extra features such as cashback and investment with Plum Plus (£1 a month) and Plum Pro (£2.99 a month).


There is also the ability to begin your investment journey using the Plum app by investing in a Stocks & Shares ISA. You are also able to automate investment deposits so you don't have to remember to do it manually each week. You are able to invest in 'funds' as opposed to individual stocks and shares - these funds are professionally managed. You can choose funds based on your risk appetite to best suit your needs.


Click here to sign up.



Chip



Chip is a savings app that allows you to automatically grow your savings using the power of AI. You are able to connect your bank account to the app to automate your savings. Set up rules within the app such as 'payday putaway' to increase the amount you put away on your payday. Chip have recently launched their Chip+1 account which enables you to earn a (variable) interest rate of 1.25% on your savings - beating the interest rates of many major banks.


Create and customise your 'goals' and pick what percentage of your save amount you want to put towards those goals. Change your goal name and picture to tailor it to your needs.


Click here to sign up.


MoneyBox



MoneyBox is a savings app that allows you to save and invest for your future. You're able to open up a variety of different savings accounts such as: LISA, Stocks and Shares ISA, Notice Accounts and more. Choose how much you want to deposit each week and the app will do the rest for you. You can also choose to turn on 'roundups' which will save the spare change from your purchases. Sign up in minutes and get started with just £1.


If you're looking to save for your retirement, you're able to open up a personal pension which allows you to make deposits as well as combine all of your old pensions pots in one place.


Click here to sign up.


Tandem Bank



Tandem Bank helps you to save little and often with their autosaving feature. You're able to keep track of your transactions within the app as well as see how much you stashing away. You are able to make one-off deposits to your savings by choosing the 'boost' function within the app. You can also choose to turn on 'roundups' which will save the spare change from your purchases. The savings account offers 0.5% AER and is instant access so you can withdraw your money whenever you need it.


Tandem Bank also keeps an eye on your regular bills and will give you an alert if you have paid more for a bill compared to the previous month or if it identifies savings for you. Never overpay on a bill again. Based on your regular direct debits, the app will also work out how much you have left to spend for the month so you're never caught out.


Click here to sign up.



Want to budget your money? Download your FREE Pennies To Pounds spreadsheet here.



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Today, history has been made as the UK's first-ever Caribbean-owned digital bank has launched in the UK. The Jamaican National Group (JN Group) has been operating in the Caribbean for over 145 years. In December 2019, the JN Group acquired its full banking license to operate in the UK by regulators, the first Caribbean bank to have this achievement.


There is a strong digital focus for the bank, offering a range of products such as savings accounts and personal loans. Although the bank is primarily online, they have their first branch which is located in the heart of Brixton. This branch is a place for consumers to be able to learn more about the products and services offered by the bank and be able to access their accounts. With a strong community drive, the branch opens up after hours for community groups to be able to host activities and workshops amongst each other. The bank also has a passion for financial literacy and hosts its own seminars to allow members of the community to come along and learn for free.


Going forward, the JN Bank also intends to offer bursaries and scholarships for members of the community looking to embark of further education. This aligns with their beliefs of being able to give back and help its community members.


Learn more about JN Bank UK here.



When it comes to money management, learning how to budget your money effectively can kickstart your finances to another level. There are more hands-on budgeting methods such as manually budgeting using pen and paper or inputting all of your finances into a spreadsheet (use our free one here). However, if you prefer to take a bit more of a laid-back approach, these apps have got you covered. Below are three budgeting apps that are great at helping you take control of your spending.



EMMA

Emma is a budget app that allows you to avoid overdrafts, find wasteful subscriptions and take over control of your finances.


Features:

• Track and cancel subscriptions within the app

• View and manage recurring payments from your current accounts

• Connect all of your accounts including bank, savings, pensions and cryptocurrency. View all of your balances and transactions from these accounts all in one place.

• Create budgets and categorise your spending to allow you to manage your money in line with payday.


Emma has also introduced a 'Rewards' section in-app. You are able to get cashback on your purchase such as Kwikfit, Belkin and Treatwell. Once confirmed and processed, the cashback balance gets added to your Emma wallet where you are able to withdraw it for some extra cash.






There is a section in the app that also helps you to find the best deals such as on your bills, insurance and credit cards. You also have the ability to begin investing using the app.



Emma is available for free on iPhone and Android, sign up here.


















YOLT

Yolt is a budgeting app that aims to give its users the power to be smarter with their money. It enables you to be able to spend smart, stay on track, and reach your goals with the use of the app.


Features:

• View your current accounts, savings, credit cards and investment accounts all within the app

• Track your spending and set yourself budgets to stay on track

• Set savings goals within the app and view how close you are to reaching your goal

• Move money from one of your accounts to another

• Transfer money from one of your accounts to someone else's account using the app

• Keep track of your bill so you're never late on payments

• Start earning cashback using Yolt Rewards at places such as Nike, John Lewis and Footasylum


The app also allows you to access additional services such as:


• Open high-interest savings account through Raisin

• Find the best energy deal through MoneySuperMarket

• Begin investing through Wealthify

• Purchase phone insurance through SimpleInsurance


and lots more.


Download Yolt free on iPhone and Android here.















MONEYHUB

Moneyhub is a budgeting app that allows you to see all of your finances in one place and use in-app tools to achieve your goals.


Features:

• See all of your accounts, credit cards, savings and borrowing all in the app

• Generate an analysis of your spending to see exactly where your money is going each month

• Set spending goals and keep track of your progress

• Receive notification nudges to your phone to alert you to upcoming bill payments so you never miss another bill

• Get tips on saving and discover better deals on your current credit cards and loans



Moneyhub has a section called Projects which you can use to create future money goals for yourself. Projects allow you to monitor your spending across all of your connected accounts and organise them into different categories. It will also detail how close you are to achieving your designated goal. You are able to create more than one project allowing you to plan for multiple things eg. holiday, first house, wedding etc.


Download Moneyhub free for iPhone and Android here.












Budgeting is a great way to know exactly where your money is going and areas where you may need to pull back on the spending. Whatever your financial goals, budgeting allows you to make the necessary plans to be able to reach them.


Happy budgeting!




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