All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.
Alternatives apps to Plum
Saving money without having to think about it sounds great, but can you only do it with Plum? We take a look at similar apps.
Top alternative apps to Plum
If you’ve decided Plum is not for you and want to try something else then there are a number of alternative saving apps on the market.
It’s payday and you’re probably thinking about finally finalising the order that’s been in your Amazon basket for weeks… not about how much of your salary can go into your savings account. Still, you do need to put money aside for the future. Doesn’t an app that calculates how much you can afford to save and then just moves the money for you sound absolutely brilliant?
You can either use Plum for that (it’s a chatbot that works as a financial assistant – learn more about it in our full review) or look at this list of possible alternatives we’ve put together for you.
Apps like Plum to automate your savings
If you only look at apps that analyse your spending and automatically put a sum aside for you every few days, Plum doesn’t have a lot of direct competitors. However, there are a bunch of alternative ways to automate your savings. You can have a look at the following:
- Save automatically with Chip. Chip is Plum’s main competitor and also uses an algorithm to analyse your spending and then automatically set money aside for you. All in all, Plum has more features (for example, you can invest your savings and it connects to more UK banks) but, like Plum, Chip allows you to set specific savings goals in its app.
- Round up your spare change. A (slightly) more conventional way of saving money without having to think about it is using the round-up feature offered by some digital current accounts these days. If you activate it, the spare change of every transaction you make will be moved into a separate sub-account that will act as a savings account. So for example, if you spend £29.20 on your grocery shopping, £30 will be taken from your current account, £0.80 of which will be put aside into a savings pot. Chase, Monzo and Revolut all offer this feature in their apps.
Alternatives like Plum for investing
If you want to make your savings profitable by investing them, the most obvious alternative to Plum is to look at the selection of share dealing platforms available. Some of them have very handy apps and a whole lot of information for beginners.
However, if what you want is an app that both helps you save and then invests what you’ve saved (the investment option costs a minimum of £1 a month through Plum), your alternatives are a bit limited.
Bottom line
Plum is a solid choice if you’re looking for an app that will help you put money aside and then invest those savings for you. But if you’ve decided you want to try an alternative to Plum, then there are other apps out there that will help with your saving, budgeting or investing goals.
According to a 2024 Finder survey, the average person in the UK has £11,185 in savings. However, almost half of Brits (46%) have £1,000 or less in savings, meaning they would struggle to cover living expenses for more than a month.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
More guides on Finder
-
Cash vs card: Which wins in 2024?
The Finder team roamed the streets of London to quiz the general public about whether they prefer cash or card. Paid content.
-
Best money saving apps in the UK 2024: Build a savings pot
There are times when we could all do with a hand to save money, and we’ve assembled some of the best apps to help you do it.
-
MyPocket review
Here’s all you need to know about the digital banking service that is aiming to make banking accessible to all.
-
Starling Bank business account review
Thinking about opening a Starling business account? Take a look at our analysis to find out if it’s suited to your company.
-
Fuze Card review
Fuze Card is a device to store all your cards in one place. But does it actually work and is it worth the price?
-
Soldo review
Soldo promises to revolutionise the way your business manages its expenses. Our review analyses its features and fees to see if it’s worth it.
-
What is Open Banking?
Open Banking can open the way to new products and services for UK customers. Read this guide to find out all you need to know about Open Banking, from APIs to regulations.
-
Pockit review
Looking for a digital-only bank account? We explore the app and all of the fees and features that come with a Pockit online current account.
-
Plum app review: The AI assistant that helps you save money
Plum’s app uses artificial intelligence to help you set aside money and spend wisely. Our review analyses the money management features on offer.
-
Chip savings app review
The Chip savings app will connect to your current account and stash money away automatically. We cover all you need to know about the innovative app in this review.