For many people these days, saving money is a huge part of their daily habits. From hunting down the best prices at local petrol stations to shopping at cheaper grocery stores to reduce weekly spending, there’s plenty we can do to pinch the pennies when there’s something we need to save for.
So, whether you’re saving for a deposit on your first home, or putting away the pounds for an extravagant summer holiday, we’ve collated 5 fantastic apps that can effectively help you boost your savings!
Moneybox is a handy new app that makes good use of the spare change from your car transactions, rounding up purchases to the nearest pound, and then investing your cash into a Stocks & Shares ISA. When setting up a new profile, users are able to choose which level of ‘risk’ investments they would want their saved change used for, with higher risk investments generally turning more of a profit over a shorter period of time (although savings can take dips more often in higher-risk accounts).
If you make a lot of card transactions, you’re likely to know how easy it can be to spend a lot of money each month on numerous small purchases. From visits to your local barista on your morning commute to regular trips on public transport, those small, contactless transactions can quickly mount up, and with Moneybox, each one contributes into a smart savings account that works hard for you! Just be wary that you will have to set up a new ISA to use this service, so be sure this won’t interfere with your other accounts or saving schemes first (especially those looking to take advantage of government schemes for first-time property buyers).
There’s plenty to dislike about driving to and from your place of work each day; rush-hour traffic seems to get worse each year, motorists’ tempers become very volatile and the weekly cost of fueling your vehicle is a large part of many people’s outgoings. While this next app can’t exactly save you from the slow traffic and hot tempers of rush-hour traffic, it can help you save a few quid!
The app from PetrolPrices.com collates prices from all petrol stations in your surrounding area and shows which have the cheapest prices on fuel, meaning you can easily identify a good price in your locality and even use a route planner in the app to reach each station. PetrolPrices state that members have been able to save a whopping £240 per year on average, that’s an extra £20 per month to pop into savings!
While there have been a few reports of bugs and usability issues with the app, there’s plenty to be gained from overlooking these problems to gain the best deals of fuel.
We all know that one person who is preoccupied with monitoring their spending habits, adding their monthly budgets into a nifty spreadsheet to ensure they don’t over-spend. While it may seem a little obsessive, it certainly works when it comes to building up a savings account, and that’s where Monzo comes in handy.
Monzo is a great way to stay conscious of your spending, and not overlook previous purchases later in the month. While it’s not as manual as creating a spreadsheet to monitor spending, Monzo allows you to use a pre-paid card to make your purchases and then creates a clear and simple outline of how your spending is going. The app takes all of the labour out of budgeting but still allows you to keep a tight control on what you spend.
Top Cash Back
Top Cash Back has become a well-known branch, allowing users to earn cash back on a wide range of purchases. From new utility suppliers to highstreet stores, there are tonnes of brands registered to Top Cash Back that you can buy with and then recoup a % of your spend later.
Users who have been reaping the benefits of Top Cash Back’s offer for some years will remember when the service was run only through a website, but there is now a fresh new app which allows users to find great deals and make savings on their purchases on-the-go. You can use the app to save on in-store and online purchases, saving you money on everything from weekly groceries to e-commerce orders, and then transfer all of your cashback earnings over to your bank account, simple!
While the previous entries on our list are great for monitoring and reducing spending, this handy app is actually a great way of earning some cash. As you may have noticed, as media streaming and on-demand services have become much more mainstream, the need to put in CD’s and DVD’s to enjoy your favourite movies, TV shows and songs is becoming more redundant. In fact, within a few more years physical copies could be completely obsolete!
Music Magpie is a great way to make some money on all of those old DVD’s, CDs and other bits of tech that you’re unlikely to use again.
The Music Magpie App is a quick and convenient way to make money, especially if you’re selling dusty old tech that you won’t miss. The barcode scanner built into the app allows you to get a quick quote on items like DVDs and CDs, and then process the sale and select a free postage option all from within the app. If you have a mountain of old DVDs, CDs or even old games consoles and electronics, Music Magpie might be a handy option for you.
So there we have our Top 5 list of handy money saving apps! Remember, if you’re looking to sell your car and want a hassle-free sale, enter your reg number and value your car with us today!
Categorised in: Money Saving
This post was written by Danny