Keep Your Spending in Check With These Top Personal Finance Apps

personal finance apps
August 2, 2020 by Stuart Smale

Keeping track of your personal finances can seem like an overwhelming or even tedious task, however, careful budgeting is an important aspect of maintaining a healthy bank balance. If you have financial goals in mind, such as paying off a credit card, saving for a new car, or saving for a house deposit, keeping your personal finances in check will help you to reach your goals.

Managing your money is easier than ever thanks to the growing availability of personal finance apps, which can be easily accessed from our smartphones. Whether you are looking to reduce your spending or learn how to stretch your cash to your next payday, there are many apps to choose from. We have compiled a list of the top apps currently available, so you can stay on top of your money management.

1) Cleo

The Cleo app is one of the most exciting, fast-paced money management apps you can find. If you think managing your finances is boring, think again. This unique app was voted the best Money App in 2019 and provides users with the opportunity to win cash, via a range of games and quizzes. The app is registered with the Financial Conduct Authority and is completely free, while also being simple and easy to use.

If you are looking for help, this app cleverly uses AI to offer users a live chat experience via their app or even Facebook Messenger. There is also a highly informative blog, which is packed with advice and tips to help Cleo users learn more about budgeting and money management.

2) Plum

In a similar way to the Cleo app, Plum uses AI to offer an interesting and engaging user experience. The app launched in 2016 and is a great option for users who are looking to save. Thanks to features such as rounding up spare change and challenges to help you reach savings targets, you will soon be on your way to a strong savings account.

The app is free for the first month, however, it does cost £2 per month after the introductory period for the Plum Pro Plan. However, you will gain access to an investment account, with three different risk levels. If you are interested in learning more about investing and are looking for shares which are protected by an FSCS guarantee, you will enjoy this app.

3) Emma

The Emma app is a free solution, which describes itself as your best financial friend. The app is designed to help those who struggle with managing their personal finances, so features are designed to help you track debt levels, save money, cancel unused subscriptions and avoid expensive overdrafts.

The app brings together various accounts, so you can manage your regular accounts, pensions and investments through a simple interface. If you regularly struggle to make your money stretch until payday, you will enjoy the app’s countdown to payday feature, which is designed to help you manage your money close to payday.

It is one of the most secure apps thanks to its state-of-the-art security features and is registered with the Information Commissioner’s Office and the Foreign and Commonwealth Office. It is also worth noting that despite being a free service, Emma promises not to sell your data to make a profit.

4) Moneyhub

Moneyhub was established in 2009, so the app has had many years to become of the leaders in the money management industry. The app provides users with access to real-life industry experts who will offer financial advice. In addition, the Moneyhub feature will help you to cut back on unnecessary spending, by showing the impact on your future financial position. This forecasting feature is designed to show how a large purchase will impact your finances, so there is a reduced chance of you falling into debt. The app is free for 6 months, however, following this introductory period, there is a fee of 99p per month.

5) Snoop

The free Snoop app is one of the latest personal finance apps to join the market. The app was developed by a team of former Virgin Money employees and their expertise has been put to good use. The app works hard to help users become smarter with their money, thanks to finding ‘snoops’ which help you locate savings in areas where you already spend. For example, the app will monitor where you regularly shop and let you know if there are potential voucher codes available.

The app will also provide useful weekly and monthly spending summaries, while also monitoring your regular bills. It will even remind you about potential upcoming payments, such as purchasing travel insurance if you have recently bought a flight. If you are looking for further financial ideas and tips, the SnoopSpaceForum is a useful community forum.

6) Chip

Chip is a useful app if you are looking to save, as it calculates how much you need to save to reach certain goals and moves the cash for you into a separate Chip account. The app offers full connection to 17 UK banks, so it is possible to automatically save without having to think about it.

The app will allow you to set up to 3 savings goals at any time, with savings goals linked to the data pulled from your bank accounts. However, it is worth noting that the Chip account is not a savings account, so does not benefit from FSCS protection. Instead, the Chip account is an e-money account which benefits from ring-fenced protection.

Here at Cobra Payday Loans, we are committed to more than helping people find quick payday loans. We understand that it can be difficult to organise and maintain a healthy bank balance, so we want to help you find the tools which will help. Of course, if your finances have been stretched unexpectedly, our team are always available to help you arrange a flexible and fast payday loan. Why not apply today.

Is the managing director of Cobra Payday Loans and Ready Money Capital Limited. He is responsible for all the day to day functions and performance of both companies and regularly contributes information on the short term finance sector. Stuart is an approved person with the Financial Conduct Authority, holding SMF3 (Executive Director) status.

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