Feel empowered to make the right money choices for you with the help of Plum, the smart personal finance app.
Nobody is perfect when it comes to managing their money. You might be a strict budgeter who keeps tabs on every single penny coming in and out of your accounts. Or maybe you’re more of a ‘let’s wing it and hope for the best’ kind of person? Whatever your relationship with your money is like, the Plum app can help you feel more in control.
Plum is a user-friendly personal finance and wealth management app that uses open banking to monitor your spending. It allows you to set savings goals, keep track of your bank balance, and even compare household bills. With AI-powered automation tools, Plum can make it easier for you to manage your finances and track your spending.
Head over to the Plum UK website to find out more about their money management services. You can download the Plum app from the App Store or Google Play Store and start finding easy ways to make savvier savings today.
And if you sign up to TopCashback and click through from this page before investing in a cash ISA, you can earn cashback.
Ways to save money with the Plum app
Plum can help you to make saving money a habit, because they know that saving starts small.
Set aside money each day, week or month, and you’ll be able to see your savings start to grow. Whether you’re trying to build positive money habits or have a specific goal in mind like building your house deposit, Plum’s tools can help.
A Plum Basic account is free to use, so this could be a good place for you to start. Some features are available without paying for a subscription, including one additional Pocket. Pockets allow you to save funds for a particular savings goal or project (such as a DIY project, shopping spree or holiday). Paid plans give you access to more customisable Pockets.
There’s also a variety of handy automatic Plum smart savings features available with a free account, including weekly deposits, payday auto savers and round-ups.
Put your savings skills to the test with the No-Spend Challenge. Set a daily maximum spend to be classed as a ‘no spend day’, then Plum will put some of your money aside each day you spend within the limit. You can customise the rules to suit you, including your maximum daily spend and how much you set aside.
Paid Plum subscriptions unlock more features like spending insights and additional customisable savings Pockets. You can try any of the three paid tiers for free with a one-month free trial.
Plum’s automated saving rules
Plum have a wide range of automation features to help you get your money working harder.
With the round-ups feature, Plum will automatically round up your transactions to the nearest pound and deposit the difference into your Plum account. You can also set up weekly deposits to automatically set aside money each week, or on payday with automatic payday deposits.
You can choose where your savings go as well. Split them across your different deposits (including any Pockets, ISAs or investments you have), or focus on building up one specific fund.
Plum’s app is designed to be flexible, so that you can adapt it as and when your situation changes. It uses AI to analyse your income and spending to help you work out how much you can afford to set aside. You’re in control. You can adjust your automatic savings rules within the app to suit how you’re feeling about your finances.
While there are free features available with a Basic account, many require a paid subscription. Premium features include Rainy Days automation, which sets aside money whenever rain is forecast in your area. You can also join challenges like the 52-Week Challenge and watch the pounds stack up throughout the year.
Make sure you check the Plum website for the latest information on what’s included with each membership tier.
Get the most out of Plum
As well as the range of automated features to help you stack up your savings, Plum offer a range of other financial products and smart ways to save.
With a paid subscription, you’ll be able to set up multiple Pockets for different savings goals, whereas the free account is limited to just one.
Paid subscriptions also unlock other additional features like spending insights and a Plum Visa debit card. Plum Max customers (the highest subscription level) can make use of a 95-Day Notice Pocket and earn interest on their savings. There are also various lifestyle perks with Max, including offers on cinema, dining and travel.
Plum offer Easy Access Savings accounts, cash ISAs, stocks and shares ISAs, and more. Some higher subscription tiers offer better rates on eligible Plum products.
If you decide to open a cash ISA or deposit into your Lifetime ISA using the Plum app, you may be able to earn cashback. Check the offers on this page before clicking through to the Plum website to make sure you’re not missing out on a deal.
Automation helps you save and invest consistently, but you should always monitor how your investments perform. The value of investments can fall, and returns aren't guaranteed.
All information, deals and offers mentioned within this content are correct at the time of writing.
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