Good cash app Plum has launched a brand new ‘Spend Tracker’ function to assist clients navigate the price of dwelling disaster with smarter budgeting.
The function, obtainable to Extremely and Premium members, robotically categorises a consumer’s outgoings and exhibits them as a proportion of general spending.
Breaking down a buyer’s spending over the earlier two months so clients can examine their spending and simply spot doable financial savings, the brand new function comes as a part of the app’s redesigned ‘Spend’ tab.
“Our new Spend Tracker is the best budgeting accomplice as we head into 2024,” Plum product supervisor Lia Papageorgiou mentioned.
“Inflation, whereas falling, remains to be excessive within the UK, driving up the price of on a regular basis shopper items. So it’s vital to ensure each penny counts.”
The spend tracker function sits alongside a invoice tracker which robotically detects recurring funds and exhibits what has been paid and what’s left to pay.
“Having the ability to see a breakdown of your spending by the Spend Tracker will likely be enormously useful for anybody eager to take away the ache from budgeting,” Papageorgiou continued.
“Coupled with our redesigned Spend tab, clients will likely be in a greater place to grasp their funds and make knowledgeable choices about their spending and saving. This displays Plum’s mission to maximise our clients’ wealth.”
The brand new financial savings function follows the launch of plenty of wealth-building merchandise from the app, together with the launch of ‘Plum Curiosity’ in September.
A busy interval of product growth is about to proceed for Plum because it plans to develop its ISA providing with each a Money ISA and a Lifetime ISA later this yr.
