The app works like a personal financial adviser, letting you see how you’re spending your money and flagging any wasteful payments.
We’ve analysed the saving and budgeting features offered by Emma below.
Emma is a money management app based in London. The app uses Open Banking to connect to your bank accounts and credit cards.With all your financial information in one place, you can track all your transactions in real time.
It goes further than giving you a simplified bank statement. It helps you avoid overdraft charges, finds wasteful subscriptions and gives you keen insights into your spending.
Emma aggregates all your bank accounts and credit cards in one app. Here are the other budgeting and savings features it offers:
You might have reservations about providing a third-party app your bank credentials. However, Emma’s access is read-only, so it can’t touch your money. In addition, it is authorised and regulated by the Financial Conduct Authority.In terms of app security, Emma uses several of the same security measures, including end-to-end-256-bit TLS encryption. This is used by all major banks.
Emma currently makes money in two ways:
The Emma app looks good, is slick and easy to use and offers some really helpful features – in particular, shoutout to its ability to track your subscriptions and keep track of your crypto assets as well as of your regular bank accounts.
On the downside, it could do with some more visuals and graphs, and some of the features that allow greater flexibility are only available to premium users, which isn’t ideal. Some of Emma’s competitors, like Yolt and Money Dashboard, are better from this point of view.
Still, Emma is a really solid budgeting app. It makes a really clever tool for organising your money, allowing you to manage it more efficiently and ultimately save more.
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