Bigmo app review

Set savings goals, create a spending plan and compete to hit milestones with the Bigmo budgeting app.

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Rachel Wait

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Bigmo

Budgeting apps are all the rage these days and the Bigmo app is no exception. But where Bigmo (short for ‘Big Moments’) stands out is through its mission to make saving and budgeting feel less like a chore and more like a must-win challenge.

What is the Bigmo app?

The Bigmo app is designed to make saving fun, transforming budgeting and saving into challenges and games to help you save faster for the big moments in your life.

When you download the app, you’ll be able to link all your bank accounts and credit cards to Bigmo. You’ll then be able to set savings goals and take part in gamified competitive missions to reach those goals and help you stay motivated.

As you take part in these challenges and reach certain milestones, you can earn ‘bidz’ – Bigmo’s in-app virtual currency. You can enter weekly mini games and live auctions to win prizes each week.

However, if you overspend, you’ll face penalties that are designed to help you stick to your budget.

How does it work?

Once you’ve downloaded the app, follow the steps below:

  1. Set your savings goals. Firstly, you need to decide what you’re saving for. This might be a holiday, your first home or paying off debt.
  2. Link your accounts. Next, you need to connect your bank accounts and credit cards to the app.
  3. Create a spending plan. You can then build a personalised spending plan that aligns with your income, expenses and savings goals. This tells you exactly how much you can spend each month to meet your savings goals.
  4. 28-day savings sprint. This challenge is designed to improve your spending habits by building streaks and earning bidz to help you stay motivated. You can even compete against your peers.
  5. Earn rewards. Reach savings milestones and collect bidz as you go. You can use bidz to enter auctions for a chance to win a prize. This can include cash, virtual currencies, and experiences.
  6. See the big picture. You can view all your finances in one place, track how close you are to reaching your goals and get insights to make adjustments as needed.

How much does Bigmo cost?

The app currently offers a 2-month free trial, after which you’ll pay £5.99 a month. You’ll save 25% if you’re happy to pay annually instead of monthly.

Who is eligible to use the Bigmo app?

To use the app, you are expected to save at least £150 a month and 50% of your discretionary spending allowance (leftover cash once all your bills and expenses have gone out of your bank account).

You won’t be able to use the app if your income and fixed expenses give you a discretionary spending allowance of less than £400, or if your income is less than £700 a month.

Is the Bigmo app safe?

Bigmo is regulated by the Financial Conduct Authority (FCA) under the Payment Services Regulations 2017. It uses secure Open Banking technology to connect to your accounts and no login details are stored.

Note that Bigmo doesn’t hold any of your cash as it remains in your existing bank accounts.

Pros and cons of Bigmo

Pros

  • Can provide a fun way to motivate you to save
  • You can create your own personalised spending plan
  • Opportunity to win rewards when you reach certain milestones
  • Tracks your spending so you can see how likely you are to meet your goals
  • Quick to set up

Cons

  • Monthly fee applies after free trial
  • Strict eligibility criteria and you'll need to be committed to saving
  • Won't connect to every bank or provider

Our verdict

The Bigmo app won’t be right for everyone, but if you’re looking for a unique way to improve your savings habits while having some fun along the way, it’s certainly worth giving the free trial a go – provided you meet the eligibility criteria.

What’s more, if you’re a competitive person, you might find the option of competing against your peers particularly motivating, helping you to save for those big goals even faster.

Frequently asked questions

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Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio

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