Automatic savings app - alternative to Plum -recommendations please

annieapple

I was using Plum to save small amounts and round-up card transactions and was able to pay off a chuck of debt. However, I have had to close my account as it stopped working and their customer service was dire.

Does anyone here use any other apps that automatically save small amounts of money? Do you have any recommendations?

Plum was great while it worked and I am keen to continue saving in the same way.

quirkydeptless

Information from MSE about alternatives under 'Top Savings Apps' on this page

https://www.moneysavingexpert.com/banking/digital-banking/


I have been using Chip, but only really for the sign up bonus they used to offer so I was mostly doing manual savings, but the automatic savings worked ok for me too.

https://www.getchip.uk/

They have a facebook group you can join to see upcoming changes.

https://www.facebook.com/groups/1813887475332477/

AnotherJoe

annieapple wrote: »

Plum was great while it worked and I am keen to continue saving in the same way.

You've fallen fir a gimmick that induces you to spend more in the guise of saving.
If you want to save, save first then spend what's left rather than kid yourself that by buying a double macchiato at £3.79 you are saving 21p.
And save a specified amount each month that you decide rather than one determined by your random shopping habits.

annieapple

AnotherJoe I don't think you understand how Plum worked s. It's not just a rounding app. It has many other features and insights.


I've paid off an extra 100 a month on my credit card painlessly with this so I'm unsure why I wouldnt want to continue.


Quirkydeptless thank you I'll look into Chip.

Eco_Miser

Is there any reason you couldn't pay off your credit card yourself a bit at a time in a similar way to the Plum app?

annieapple

I think the reason is human psychology. Taking the odd 20p and £3 and paying off a credit card seems pointless and doesn't occur to me. Having something do it for me and then me suddenly having £50 to pay off makes it seem worthwhile.

Eco_Miser

Looking at it a different way, if you didn't keep taking the odd 20p or £3 into a different place, you should end the month with £100 extra in your current account, which would be a worthwhile deduction from your credit card.

Albermarle

rather than kid yourself that by buying a double macchiato at £3.79 you are saving 21p.

Or even better , have a coffee at home and pay 5p !

MsVincy

Hi annie. I use Chip too and find it useful by applying it to holiday money , for example, or throwing extra at a credit card payment.

annieapple

Thanks msvincy

annieapple

Also most of the rounded up transactions were from travel to work. I don't buy coffee out at my mum bought me a coffee machine for Xmas 4 years ago and my work has one. I'm not sure why there is an assumption that I regularly buy £4 machiatos.