Money is, unavoidably, at topic which is constantly at the forefront of our collective minds. Whether you’re investing in your fifth property (lol) or you’re knee deep in your overdraft, or if you’re just doing fine, paying attention to your finances is really important.
As a student I kept (or tried to keep) a very basic spreadsheet on my phone on which I noted down every penny I spent each day – this lasted a short while but was ultimately too much faffing. As a ‘Grown Up’ I am much too busy (or lazy) for that, so instead have turned to money saving apps in an effort to be at least a bit responsible. All of the below are available for iPhone and Android, and I personally use all of them in my day-to-day life.
Monzo is a card which you can use to pay for anything, the same way you would with your existing debit or credit card. Instead of having access to everything in your bank account, you have to top up your Monzo card – you could do this daily, weekly, monthly, or just whenever you need it. I tend to top up my Monzo £100 per time and try to make that last as long as possible – having a limited amount on a card makes me more motivated to avoid spending frivolously because I am a stubborn child and I want to ‘win’ the game I am setting myself.
- The Monzo app makes it really easy to track what you’re spending and what you’re spending it on. Categories include groceries, eating out, transport and entertainment (read: BEER).
- Each time you spend on Monzo the app updates instantly – my regular online banking app takes a few days making day-to-day spending a bit of a guessing game, whereas there are no nasty surprises with the Monzo app.
- You can set monthly targets for spending in each category – Monzo will notify you if you’re spending too quickly in each category (and you can turn these notifications off if you’d just rather not know).
- You can use Monzo abroad with no fees!
To get a Monzo card, download the app and apply. If you already know someone with Monzo, ask them if they have a ‘golden ticket’ to send you to speed up the process of getting your card.
While Monzo is essentially a current account with a very user-friendly app, Chip is all about savings; simply connect it to your online banking and the app will track your average spending, and put away small amounts of money when you can afford it.
- You can change the settings to save less or more, depending on your personal preference.
- As well as the background saving, you can deposit specific amounts (up to £100 per day) into your Chip savings account.
- You can withdraw your chip savings whenever you want.
- For more info on Chip (including security and other FAQ), see here.
Download the app and use code KWHV5L to get a free £10 OR additional 1% interest on your savings for a year. Once you have the app you can invite your friends using your own code, and get both you and them £10 or an extra 1% interest once you save – get 5 mates on board and that’s 50 quid for you, or 6% interest, which is considerably above the standard rate of most current or savings accounts. This offer only lasts til June 30th, so get signing up asap!
Circle is an app that allows to you send money to people in your contacts or people you are in close proximity to instantly. This makes splitting bills or paying your mates back really easy; you can avoid awkwardly overpaying at dinner because you don’t have any change, one of your group can go to the bar but not have to pay for the full round, etc etc.
Moreover, if you sign up here you get £5 for free as soon as you use the app to send £25 (which you may or may not choose to send to your mum or a mate, and have them send it back immediately). You can then invite all your friends and family to the app, and get a free fiver for yourself and a free fiver for them when they join. THE APP IS QUITE USEFUL AND FREE MONEY IS FREE MONEY, FRIENDS.
Download Circle / use code 76XMUN for a free £5 in your account.