Saving for a Christmas with Plum.
You’ve all heard the saying ‘look after the penny’s and the pound’s will look after themselves’, well Plum does exactly that!
No matter whether your saving up for Christmas or rainy day, or maybe something bigger like a deposit for a house, Plum will help you do that.
Back in 2020 I was looking at different ways of saving up as we wanted to move house but also had birthday’s and Christmas on the horizon.
I’ve tried a lot of different saving hacks I found whilst scrolling through Pinterest but didn’t have much success with them as I have a memory like Dory from Finding Nemo.
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I came across an advert for Plum saying it automatically rounded up your spending to the nearest £1 and put it away in a saving account, I thought BRILLIANT that ‘s just what I need, something that would remember for me.
The app was easy to set up and the step by step instructions to link it to my bank were a doddle.
I had it set up in no time at all and after a few days saw my savings going in.
In the 2 years I’ve been using Plum I have saved over £5000 in total.
This helped us move house to a much nicer area, It helped pay towards Christmas and also a Camping holiday last year in Devon.
You can check out my blog on that holiday as it was fantastic and the kids want to go back.
This year my savings are going towards our holiday to France in August, I already have just over £500 in there and this will be used for trips out to Disney Land Paris and other outings we go on.
What is Plum?
Plum is an extremely clever app which works out exactly what you can afford to save every 4-5 days and takes it directly out of your bank account into a Plum saving account.
Plum connects to your current account and analyses your incomings and outgoings. It analyses transactions and then identifies your regular income, rent, bills and daily spending.
Using this and other factors like your available balance it calculates daily what amount it can safely put aside without affecting your daily life and moves it to your Plum account via direct debit every 4-5 working days.
Plum also offers different rules such as Round ups (basically if you spend 70p in the shop it will round it up to £1 and put 30p in your savings), Weekly rule and Pay day rule (a set amount you choose to put away on these dates).
All these rules will be combined with your standard automatic deposits and any other rules that you have enabled and will be included in your weekly combo deposit.
How quickly can I withdraw my savings back into my current account?
When you need to take the money out, its really easy and quick. You just open your app and click on pockets which will have your balance showing, then click withdraw and choose the amount you want to put in your current account. Its super easy and super quick and is in your bank straight away.
Does it cost anything to use?
This is the best part! IT’S FREE!!
You can set up the basic plan for free and have everything mentioned above included in your plan, its a no-frills saving plan with a lower interest for your saving’s.
There are a few other options which give you more features and better interest rates for small monthly fee’s but it’s entirely up to you if you want to be on one of these plans. I’ve been using the free plan since 2020 and my total savings have been more than £5k.
The Plans
Basic
Features
- Earn 0.25% AER, FSCS protected
- 1 Pocket
Plus
Features
- Earn up to 0.40% AER, FSCS protected
- 3 Pockets (split your holiday cash from your car deposit)
Pro
Features
- Earn up to 0.40% AER, FSCS protected
- Goals -Set savings targets, and track your progress
- Unlimited customisable pockets
- Cash back (money back from your favourite retailers
- Exclusive Saving Rules – 52 week challenge and Rainy days helping you save even more
- Investments for first timers (automated, simple and jargon free investing)
Ultra
Features
Money Maximiser (never overspend again, get a weekly allowance)
Earn up to 0.40% AER, FSCS protected
Goals – Set savings targets, and track your progress
Unlimited customisable pockets
Cash back (money back from your favourite retailers)
Exclusive Saving Rules – 52 week challenge and Rainy days helping you save even more
Investments for first timers (automated, simple and jargon free investing)
Its time to set up your own Plum account.
If your like how I was 2 years ago and struggle to save, this app is definitely for you!
Its easy, its free to use and you could be saving up for your future needs right away. You can cancel it at anytime so its not like your locked into a contract or anything.
REACH THOSE SAVING GOALS WITH EASE!
Give it a try and see how you go.
I would love to hear from you if you found this useful so please leave a comment below. If you already use Plum I would love to hear what you think too.
Happy Saving!!
For more money saving tips, check out my blog How to get discounts on family day’s out.
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