What is the best round-up savings app?

eggedd2k

Hi all. Just wondering what apps others are using for round-up savings?

I had a look at the details for the MoneyBox app but this appeared to have mixed reviews.

I’m interested in using a roundup app to save a few extra quid here and there and I like the sound of an automatic round up app.

Anyway thanks in advance!

Herbalus

The view round here is that they are generally flawed as a concept. Say you make 30 transactions a month, at 50p average you’re talking £15.

It’s not really going to make any difference at all at that level, at the risk you’ll justify an extra transaction so you can “save” some pennies. Really you’d be better off just not making that purchase.

Or at the very least why not just put £15 each month into a savings account?

It’s good that you’re trying to save, but the reality is that these roundup apps do a better job of making you feel like you’re saving as opposed to actually doing much saving for you.

Alexland

The below recent thread may be of interest. In summary don't get distracted by this kind of rubbish and get on with some proper financial planning.

https://forums.moneysavingexpert.com/discussion/5937709/do-you-find-features-like-save-the-change-pennies-useful

Alex

Plus

Herbalus wrote: »

The view round here is that they are generally flawed as a concept. Say you make 30 transactions a month, at 50p average you’re talking £15.

And given the way things tend to cost £xx.99, it's more likely to tend towards 30p than £15.

It's just a trick to make you use your debit card more (kerching for the bank).

Miss_Money_Magnet

Hi

I have recently opened a monza account. I love it. You can set up different pots including a ‘round up’ pot where it puts the spare pennies. I like it because any spending shows up instantly so you know exactly what youve got left and you can add notes if you want. The round up pot does seem to add up over the month.