Saving money is hard at the best of times, saving money as a parent is even more tricky. There’s always new things to buy for your children, new shoes, nappies, clothes or the latest toy, it’s hard to put money away for other necessities.
What if you someone could analyse your monthly incomings and outgoings and figure out the perfect amount for you to put away each week/month to save for Christmas or that much needed summer holiday. Introducing Plum!
Plum is an easy to use app that you connect to your online bank accounts. The app then analyses your incomings and outgoings each week and month and works out how much you can afford to save each month. Plum removes this amount from your bank via a preset up direct debit and pops it away in a little savings pot on the app. You’re free to withdraw the money whenever you need it, transfers are instant! You can tell the app if you’d like to save a lot, a little or a normal amount each month.
You can set up different pots depending on what you’re saving for, whether it be a little one’s birthday, car insurance or a holiday!
Plum also has a handy roundup feature you can turn on. Every transaction you make is rounded up to the nearest £1 and all the spare change is popped in a pot on the Plum app. For example, if you spend £24.62 in Tesco, Plum will round it up to £25 and pop the extra 38p in your savings. It may seem small but you’ll be surprised how soon it adds up, especially if you have a lot of individual transactions each month!
You can sign up for Plum here. It’s completely free to use (although it does have more complex paid plans too) Plum makes saving so easy, even for those of us that really struggle!