Apps tick the boxes for every part of our lives, from lifestyle and health to shopping and money management. They provide a fun distraction and a vital link to our bank account.
There are also plenty of ways that apps can help you make savings. Here’s a look at how this is possible.
Easy Money Management
Banks with a global profile have jumped on the app bandwagon in recent years. They’ve moved away from complex desktop login processes and portable access ports in favour of clean and clear, downloadable apps for both Android and iOS.
By giving their customers the opportunity to check their current account and move money with a few taps on their smartphone, these banks have made banking more accessible. They’ve also helped customers see what their balance looks like before they make that purchase.
Simple Budgeting
Apps and digital tech have opened the door for a new way of banking. Monzo users can access features that let them send money internationally and get regular spending notifications through the app, and this type of banking seems to be the future for how we access and use our money.
The apps for these digital banks often also include helpful additions such as budgeting tools, meaning users can easily check what money they have available and assess where they can make savings throughout the month.
Saving Between Each Payday
For those who have spent everything before the middle of the month, apps such as Squirrel are designed to track spending and help avoid frivolous spending when payday arrives. These apps let users input their monthly salary, add a budget for essentials such as bills and food, and create sub-sections for saving goals like birthdays and Christmas.
Comparing Insurance Offers
For those seeking a good deal on their insurance, sites like Compare the Market have built apps that guide users through the comparison process. As well as being designed in a way that gives easy access to quotes, these apps allow users to return to deals, update preferences and an opt-in feature that gives access to alerts for better deals and savings.
Doing the Weekly Shop
The food shop can take a huge chunk of your income. Many of the big supermarkets as well as leading high street stores have apps that offer a range of money-saving features. These include easy access to loyalty points, a dedicated section for the latest offers, and suggested savings on own-brand products.
Once you register your account in these apps, you can dip in and out and compare your recent shops to see how much you’ve been spending, making planning ahead and budgeting easier.
Take the time to look at the apps you currently have and see if there are any opportunities for you to make savings.
