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Saving Money with your Phone

February 19th, 2018 | by Alex Firth
Saving Money with your Phone
Lifestyle
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Students are no strangers to money struggles, stretching their overdrafts, and constant financial panics, it’s important to save money wherever possible.

Unexpectedly, your smart phone may be the key to getting back on financial track, here are three great apps, that will help save some cash.

‘Monzo’ is a London startup, offering a new type of bank. They give you a new debit card linked with a great, budgeting-friendly app. The app gives you a birds-eye view of your money, with an easy to read graph, that shows you how much you’re spending, and more importantly, how much you have left!

‘Monzo’ also have a great ‘pots’ feature, which is effectively a digital piggy bank, allowing you to set money aside and save for something. Another great feature is the ability to freeze your card in app, so if you lose it, there’s no need to ring anyone, or order new card, simply freeze, and unfreeze! Not to mention it’s unique features including a drunk mode to stop you overspending on nights out – something every student can relate to.

Another great feature is the ability to freeze your card in app, so if you lose it, there’s no need to ring anyone, or order new card, simply freeze, and unfreeze!

There is a waiting list to join ‘Monzo’, however, if you’re serious about saving, it’s well worth the wait.

If you have some money to spare, and you’d like to start saving, try ‘Chip’. The app analyses your bank account and calculates how much you can afford to save. It even takes into account your overdraft, so if have a fee-free overdraft, it may be able to set some aside, and pay you for doing so.

‘Chip’ offers 1% interest, however for each friend you refer, you get an extra 1%, up to a maximum of 5%; meaning your savings could rapidly stack up! The app is really simple to use, and you can withdraw your savings at any time, making it an effective tool for money saving.

‘Chip’ offers 1% interest, however for each friend you refer, you get an extra 1%, up to a maximum of 5%

The final app is for all of you money moguls who have multiple bank accounts and credit cards is ‘Emma’. ‘Emma’ acts as your personal account manager, operating as a mission control for all your bank accounts. Not only does it provide a live balance for your different accounts, but it allows you to break down all your expenses, for all your accounts, in one place.

Credit: Emma-app

‘Emma’ will remind you when you’re going to overdraft, and even predict if bills are going to clash, and put you in the red, and help you find a solution. If you have multiple accounts, ‘Emma’ is a must have app.

All these apps are available for iOS and Android, so there’s no excuse. Get tech savvy and start saving money, it has never been so easy!

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