Nowadays, there are apps for almost everything we need, particularly when it comes to managing your money. From budgeting, saving and cutting back on wasteful purchases, Oakworth Financial Planning has rounded up a list of useful money-saving apps. 

Best Free Money-Saving Apps

These money-saving apps can help you save money by connecting your existing bank account. 

They will analyse your spending habits and automatically put money aside using an AI-backed algorithm. 



  • Automatic savings
  • Analyses spending habits and suggests amounts to save
  • Set saving goals 
  • Withdraw money at any time
  • FSCS protected



  • Save for your first home or retirement 
  • Save as you spend 
  • Start saving with just £1
  • Earn interest on your savings
  • FSCS protection



  • Large saving targets
  • Saves change from transactions
  • Set savings goals
  • Adjust savings based on ‘moods’
  • Withdraw money when goals are reached
  • Interest earned on savings with an Easy Access Interest Pocket
  • FSCS protection

Best App-Only Banks

These app-only banks allow you to save money via the app if you hold a current account with them.

Because they are fully-fledged bank accounts, you can be reassured that your money is protected by the FSCS.



  • Competitive interest rates
  • Set saving goals
  • Easily withdraw money
  • Round up spare change
  • Save with a fixed account and earn up to 1.07% in interest
  • Save with an easy access saving account and earn up to 0.11% interest

Starling Bank


  • Round-up savings
  • Set savings goals
  • Earn 0.05% interest on balances up to £85,000

How Money-Saving Apps Work

Money-saving apps offer different features and perks which can help increase your savings and improve your spending habits in general.

Depending on which you choose, automatic saving apps can help you save spare change. This is done by automatically moving small amounts of money into a separate savings account. Others will allow you to link your bank account so that you can easily access your funds when setting saving goals. 

It all depends on what you want to save for and how you want to do it.

Advantages of Money-Saving Apps

  • Automatic saving apps usually require little to no effort from your end to save money – the work is done for you! 
  • Using a money-saving app encourages good saving habits. 
  • They offer a fun way to learn about savings and budgeting.
  • The money is in a separate account, so the temptation to spend is limited. 

Disadvantages of Money-Saving Apps

  • Some apps aren’t protected by the Financial Services Compensation Scheme (FSCS). We would strongly recommend you only consider the apps offering protection.
  • You need access to a smartphone to use them. 
  • Some offer very little interest on savings. 

‍Cutting Back on Wasteful Purchases 

Create a Need vs Want List

Once you have done this, focus on the need list rather than your want list. 

This is because it can be tempting to splash on new items, but prioritising these over basic bills like rent and groceries will leave you falling behind. 

By creating this list, you will be able to spend your money on necessities first and then make a decision whether your budget will allow for anything else that month.

Shop with a List 

It can be easily done when going food shopping to put anything in your trolley, particular if you go when you’re hungry.

A simple and effective way to avoid spending on unnecessary items is to create a shopping list. This way you will only buy the items that you need, not what you see. 

Bring Lunch from Home

If you’re commuting to and from work, it can be easy to fall behind with meal preparation and get stuck with buying lunch every day. But, it is a habit that can cost you a lot over the course of a month. So, think about setting some time aside to prepare your lunches for the whole week, that way you won’t be tempted

Need Some Money-Saving Advice?

If you require more money-saving advice, Oakworth Financial Planning can help. Take a look at our 5 tips on how to save money for the year ahead, or get in touch with us today.

We aim to provide you with valuable advice and peace of mind that you are on the right track and most importantly, discuss your specific goals in a relaxed atmosphere.