Apps to help you manage your money
Apps can help you budget, save and invest. The right one for you will depend on the features you’re after, your needs, and what you’re willing to spend.
Are you looking to spend more responsibly, save up for a goal or simply get some insight into your financial habits? Luckily, there’s an app for that.
Many apps, actually.
So, how do you go about picking one?
Like most things, the right one for you will depend on your specific needs. We’ve outlined four options available below, along with their features and costs, to help you narrow it down.
Chip
Chip is a savings and investment app. It utilises artificial intelligence to determine how much you can save per month based on your goals and current spending habits.
Like most other money management apps, you connect your bank account via Open Banking. The app is currently rated 4.5 on Trustpilot.
It also offers savings accounts and ISAs. You can get a rate of 3.30 per cent on its easy access account, where interest is accrued daily and paid monthly. You get three penalty-free withdrawals across a 12-month period.
The rate on their ISA is 4.82 per cent, and the rate on their instant access account is 4.56 per cent.
Snoop
SnoopSnoop is a free money management app that lets you set up a savings account, budget, and track your spending.
The app allows you to connect all your bank accounts and credit cards, a handy feature that helps you keep an eye on all your balances at once.
The app allows you to track your spending by category or merchant, and to create a budget for both your monthly spend and every spending category. It can set them for you, or you can set them yourself.
If you pay £4.99 for Snoop Plus, you can also get access to extra features.
Emma
Emma has a free version, but you can also pay between £4.99 and £14.99 for additional features.
You link your bank accounts to the app and it analyses your spending, suggesting places where you could make cuts to help you budget.
With the free version, you can connect up to two bank accounts. Paid versions allow you to connect more accounts, gain access to cashback offers and set more specific budgets.
The app also allows you to invest as little as £1 in different companies and set up savings goals.
Plum
As well as helping you keep track of your spending, Plum also allows you to save and invest directly on the app. The standard version is free, and paid versions cost between £2.99 and £9.99.
You can store your money in Plum’s Cash ISA, which pays a rate of 4.85 per cent. It also offers a Lifetime ISA with a rate of 4.75 per cent and an easy access savings “pocket” with rates of between 3.53 per cent and 4.17 per cent.
The free version breaks down your spending into categories and allows you to set up automated deposits to set money aside whenever you spend in the form of round-ups. It also gives you access to one savings pocket, while paid versions offer additional ones.