Keeping track of your finances, and how you spend your money is important. Thankfully, there’s now a great selection of apps that make managing your money a breeze.
These apps will help you take control of your finances, improve your relationship with money and ultimately help you save more than ever before. Plus, they offer real-time information in one place, automatic alerts, easy budgeting features, and helpful summaries that track your financial progress. Sounds good, right?
One app that does all this (and more!) is Emma. Emma is a money management app that’s free to download on IOS and Android. It’s an account aggregation tool that lets you connect all your bank accounts from different providers. This means you’ll be able to see information from your current accounts, savings, credit cards, loans, investments and even pensions in one app.
Having all this information in one place is just one way the Emma app can help you save money. Here are seven more ways the Emma app can help you save.
In order to start saving money, you first need to know how much money you have each month and how much money you spend each month. Creating a budget is the best way to do this.
Once you’ve worked out your income and expenses consider if you have any spare money to add into your savings. If you do have some extra cash, get into the habit of moving this money from your current account into a separate savings account. Automating this process so that the money is transferred as soon as you’ve been paid can help make saving money even easier. Any money you then add to a savings account should stay in the savings account – we know it’s tempting to just “dip” into your savings, but resist if you can!
A money management app like Emma helps make sure you don’t need to take money out of your savings. Once you’ve connected all your accounts to the app (current, saving, credit cards, etc) you can then set monthly budgets. The app will automatically track your spending across all of these accounts and notify you if it thinks you’ll go over a set amount.
The subscription economy is big news right now. Companies are making it easier than ever to sign up to new services, with many drawing you in with freebies and discounts. If you’re not keeping up with these subscriptions, you could easily be spending hundreds of pounds a year unnecessarily.
Use an app like Emma to help you spot any unwanted subscriptions. They scan through your transactions and identify any recurring expenses you have. They’ll even predict when your next payment is due so you can make sure your accounts are in good shape.
If you’re not reviewing your energy tariff every year then chances are you’re overpaying for some of your bills. Companies don’t often reward loyalty for existing customers, so switching to a new deal could save you hundreds of pounds a year.
Emma has a “Save Money” tab that helps you compare hundreds of different energy deals. All you need to do is answer a few simple questions, and we’ll work out how much money you could save by switching. You can also use Emma to help you save money on your broadband, SIM deals and a new phone!
Cashback is a great way to save money on items you’re already planning on buying. It works by offering customers special discounts for shopping through a certain site.
Cashback is one of Emma’s newest features, and there are already more than 150 new retailers on board. You’ll see all of the brands on offer by opening the Emma app, clicking on the Save Money button and pressing “Earn Cashback”. When you’ve found a retailer you want to shop with, we’ll direct you to their online site and track any purchases you make. Any cashback you’ve earned by shopping through Emma will then be available to withdraw to a PayPal account.
If you have multiple credit card debts, taking out a loan could actually help you save money. Work out the total value of all your debts, and then apply for one loan that you can use to pay off each individual debt. Make sure that the loan you’re taking out has lower interest rates than the debt you’re paying off, and you’ll find that you’re not spending as much money in interest repayments.
Emma has a tool that can help you compare different loans. Visit the Save Money tab in the Emma app and then click on the button that says “Pay off your debt”.
If your insurance policies are soon up for renewal, now is the time to start thinking about whether you could be getting a better deal. Accepting your insurers renewal quote is definitely the easiest option, but it’s not always the cheapest.
Emma’s Save Money tab can help you find a better deal on your home, car, life, pet and travel insurance. The whole process only takes a few minutes and could see you save lots of money!
When it comes to managing your money, mindset plays a big role. If you’re not confident when it comes to your finances, you’re much more likely to ignore what’s going on with your money.
An app like Emma helps you feel more in control of your money. It shows you that managing your finances doesn’t have to be difficult, and that actually it can be quite a fun process!
The budgeting features are easy to set up, the cheeky notifications are great for keeping your spending in line, and the save money features are great at highlighting where you can spend less.
Emma even has a weekly spending report that summarises how you’ve spent your money and a weekly quiz you can play in the app to win money.
For more information about Emma head to their blog, or check them out on Instagram and Twitter. Emma is available on IOS and Google Play for free. Download the Emma app here.
Emma Blog: https://bit.ly/31Be5tA
Instagram Link: https://bit.ly/2PpnUVP
Twitter Link: https://bit.ly/3k0ZFvk
Download the app: https://bit.ly/3maHww7
The All Things Money Podcast is a personal finance podcast designed to help kickstart your personal finance journey.
Join me for light-hearted and chatty conversations as I cover a wide range of personal finance topics we weren’t taught at school from budgeting, saving, investing and everything in between!
