The best money-saving apps for 2025
They are a great way to manage your money and stay on top of your finances. They provide an easily accessible way to manage your money better and stay on top of your finances.
Money can be a pretty intimidating facet of life to deal with, especially in this current financial climate where every penny counts.
These apps are a hassle-free and easy method of getting your finances together without having to visit a bank or financial advisor, which can cost you time and money you don’t have.
However, are money-saving apps worth the time and effort? Yes! Find out below about some of the best money-saving apps available in the UK.
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Not all money-saving applications are created equal. The right app for you will depend on your financial goals. The majority of apps in this list have automatic saving features that can also help you maintain your financial status. Chip
The innovative Chip application helps you save money. It analyses how much money is in your bank account, calculates any spare change, and then automatically deposits it into your savings account. This app is available for free, but there is also a paid version that costs PS2.99 a month. If you upgrade to the paid version of the app, you can gain access to more exclusive features, including access to their full range of investment accounts and their up-to-date investment opportunities.
See this Chip review for more details on how it works.
2. Starling
This app is the free counterpart to Starling Bank which is an app based bank. Open a bank with them, and then transfer money from your main account into this account. It’ll keep track of your outgoings and help you set up budgets based on your spending.
This app also offers a “Saving Spaces” feature that works as a separate savings account that allows you to set saving goals and set the money aside from your main bank account. Interest rates are 3.25% AER/3.19% Gross (variable), on balances of up to PS5,000. Interest is calculated and paid out monthly. Your savings account can earn interest up to the account limits. Monzo
The Monzo application is similar to Starling because it’s the counterpart of Monzo’s Bank. You can upgrade this app to Plus or Premium accounts. This app helps you reach your goals with a range of options, including one that offers 4.60% fixed interest (AER/Gross) on your savings. This is on a 12-month fixed pot with a PS500 deposit minimum to open. There are a variety of ISAs, savings accounts and long-term accounts. Plum
The Plum app is a money-saving tool that costs between PS0 and PS9.99 per month, depending on the version. Plum Basic, Ultra, or Premium all have a flat 5% rate. This is one of the best money-saving apps on the list because it has so many features.
This app helps you save money by calculating how much money you can afford to save monthly and then automatically putting money in your savings account. The app can also help you save money if it finds that you are overspending. Upgrade to Plus or Pro if you want to earn interest or open investment account. Raisin
Raisin, a money-saving app for free, allows you to save by using a variety of banks that offer deposit-protected account. These accounts offer competitive interest rates of up to 5.11% with 90-day notice, or 4.74% with instant access. With this app you can manage and open as many accounts you want, without any fees. Moneybox
The Moneybox app is free and offers a 1.5% annual interest rate, as well as automatic investment with a variety of accounts, including Stocks and shares ISAs (ISAs for stocks and shares), Personal Pensions (ISAs for pensions), Junior ISAs (ISAs for juniors), and Lifetime ISAs. You can open a savings or investment account with as little as PS1!
Take a look at the best online banks in the UK
Tips to save money
Even though they accept digital transfers, you can also turn it off. They round up all transactions by the nearest pound.
You can choose between a Simple Savings Account that you can withdraw your money from every month, a 90-Day Notice, or 45-Day Account. You can also open an investment or savings account for as little as PS1. You can get some help with these things using apps.
Keep track of your monthly expenses. Sort your expenses into categories and note where you may be spending more than necessary. Make sure you stick to your budget. You can set spending limits for each category to ensure that you don’t overspend. You can set spending limits for each category to make sure that you don’t overspend.
Check out this list of the best budgeting apps in the UK.
2.
Mind your transactions
Now that you’re aware of how much you should be spending monthly in each category, keep an eye on your transactions to make sure you’re not losing the money you shouldn’t be. This is a great way to catch any incorrect charges or fees that you were not aware of. Set saving goals. Setting saving goals will help you visualize the end goal, and hopefully encourage you to save even more. Set up smaller goals than a big one to make it seem more achievable. Set a saving goal for that holiday or set of expensive pots and put away money every week or month until you reach your goals.
When you’re ready to grow your money, pick one of the best investment apps, which are great if you don’t have a lot of experience.
FAQs
How do money-saving apps work?
This depends on which app you decide to go with, but generally, money-saving apps have different features that aim at helping you save and improve your spending habits. These apps will require that you link your bank accounts to them so they can help you easily set savings goals. All of these apps are covered by the Financial Services Compensation scheme (FSCS), which provides protection up to PS85,000. This means that you can get your money back up to that amount should the app go under.
Some of these apps will also have an electronic money license which means that they keep all the client’s money in a bank account ring-fenced from their own accounts.
They are all regulated by the Financial Conduct Authority (FCA), so they’re being watched for any dodgy business practices, and they use encryption technology to keep your personal information safe.
I’m in debt; will these apps help me?
These apps aren’t geared toward debt management, so it’s better to visit a financial advisor or search for an app that does that specifically. One of the best ways to use these apps in relation to debt would be to use them to work out how much you can spare every month towards your debt repayment.
Final thoughts
Whether you’re looking to save with a new bank account or make the most of your current account, there are many great options to choose from. Money-saving applications can assist you in many ways, including budgeting more effectively, saving more money, and investing your money. Naomi has learned how to live on a very limited budget and become debt-free by using her money-saving tips and tricks. She is an expert on saving money at the supermarket and side hustles.
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