Building up a nest egg, either in savings or investments, can involve a lot of willpower.
It’s easy to spend money if it is sitting in your bank account, and it can be hard to make a decision to tuck it away where you can’t get at it.
Technology can help to take away the regular decision making, and make it easier to build up a healthy balance in an account. Here are some apps to try…
Moneybox
By linking with your bank account, this app rounds up your purchases to the nearest pound and sticks the change into a savings or investment account.
You can also set up weekly or monthly deposits to build the balance further.
Get it here.
Plum
This app links to your bank and uses AI to work out what you can afford to save and invest.
You can set up rules to put money into a bank account or an investment. The savings app is free to use but you pay £1 a month plus 0.48% of the balance on average to invest.
Get it here.
Clim8 Invest
A sustainable investment app that allows you to invest from £25 a month in an ISA.
Portfolios are put together by investment experts who screen for climate impact. Investors can choose a cautious, balanced or adventurous portfolio depending on temperament and goals.
Get it here.
Chip
A free app that allows you to build your savings automatically, using Open Banking to identify when to move money from your account into an easy-access account run by Allica Bank paying 0.61%.
The PayDay put away tool allows you to save more on the day you get paid.
Get it here.
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