Automation may help us with our weekly supermarket order and allow us to pre-programme our heating, home security and lighting, but did you know it could also help you save more money?
Over the last few years, automation has revolutionised the way we live and work.
In the workplace, it has enhanced productivity and taken some slack from overstretched employees by helping with decision-making and innovation. While in our day-to-day lives, our schedules are now seamless thanks to automation, and smart home devices – from voice-controlled assistants that tell you the weather or turn on your heating before you get home – bringing a new level of convenience that enables us to finally chill out a little.
If 2025 is the year you embrace the power of automation and how it can make life easier, there’s one app harnessing this power to help its over 2 million customers reap the financial benefits.
Smart money app Plum is on a mission to help its customers grow their money for life. Whether that’s for the big moments, like retirement or buying a home, or simply to save for a rainy day and build a nest egg.
For those who struggle to make decisions around money and then, critically, stick with them, the platform takes the heavy lifting out of it, with customers typically setting aside more thanks to automation.
This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
A few simple steps are all you need to set up your account and start making your money work harder for you. Automation can help care of the rest!
How to get started
Step one is to link your bank account to the Plum platform, before selecting Rules within the Plum Brain, and choosing where your money goes via the Splitter tool.
You can send it to a savings account like a cash ISA* or to an investment fund in a stocks and shares ISA. Then you can just sit back and monitor your savings and investments.
Keep in mind that while automation is great for building habits, you should still check in on your investments and their performance.
As with all investing, your capital is at risk, meaning the value of your investments can go down as well as up.
What are the rules?
When it comes to the ‘rules’, with Plum you can pick from eight automated savings rules which then put money aside for you in a certain way.**
If you’re prone to shopping where you shouldn’t (whatever that means to you – no judgment here), the Naughty Rule could help to stop your bad habit. First, you choose the stores where you want to reduce your spending and then every time you do pay them a visit, Plum will put something back.
Various challenges will help build up a tidy savings pot, too, be it the 1p Challenge that saves an extra penny every day for a year (which will see £667 squirrelled away), or the 52-Week Challenge that sets aside an extra £1 every week for a year, then £2, then £3, meaning after a year you’ll have a tidy £1,378.
If you ever wondered how automation can harness the power of UK weather, the Rainy Days rule stashes a little extra every time there’s a washout in your area (we’ve never benefitted so much from a little precipitation!). Then there’s Round Ups, which will round your purchases to the nearest pound and save the difference.
Even simple Rules like Pay Days, where the app learns when your salary lands, popping some funds away when you’re most flush, take advantage of clever automation technology.
Do you find your savings attitude changes week to week? Use the Moods rule to tell the platform how confident you’re feeling, so Plum can adjust your automatic savings levels to match – whether that’s going in a more Chilled direction or amping things up with the Beast Mode function.
It’s these features that are helping Plum with its ambition to help millions of people to grow their money for life.
While the platform can’t ensure you get your five-a-day or clean the bathroom for you – perhaps one day… – the Plum app is one of the simplest ways to add automation into your finance life.
Plum: The basics
Is Plum free?
You can begin your Plum journey for free, as the basic version of the app offers numerous features without any charge. If you want to explore additional features or optimise your saving and investing process, you can upgrade to a subscription plan.
Do you need to link your bank account to Plum?
Yes, if you want to take advantage of the app’s features as Direct Debits are the primary method to deposit money into Plum. By setting up a Direct Debit you’re allowing Plum to take money out of your account when you request it either via their deposit rules or a manual deposit you initiate within the app. The company now also has a ‘Quick Transfers’ option to make deposits for saving rules faster.
Importantly, no money will be taken out of your account without your consent.
What are Plum’s safety features?
Plum uses encryption and face and fingerprint ID for added security. It holds the Cyber Essentials certification and adheres to the security frameworks of CIS and ISO 27001, demonstrating its commitment to comprehensive security measures.
Aside from saving and investing, what else can Plum do?
Plum is packed with lots of clever features, from spending overviews to the ability to set weekly allowances.
Its new Spend Tab helps customers to manage their finances by allowing them to track their total spending across all their linked accounts. By categorising expenses and providing more detailed insights into your spending habits, you’ll be empowered to make more informed decisions and to budget effectively.
What if I have a question for Plum?
If you ever need help, friendly customer support teams are available 7 days a week.
*T&Cs and other fees may apply.
**Some smart Saving Rules are paid features and therefore fees apply. You will need to review periodically that automation is suitable for your circumstances.
Plum does not provide financial or any other form of advice.
