Houses, holidays and everyday living costs are all rising, which means it’s more important than ever to start saving early. But when living costs are high, it’s hard to set aside money regularly for longer-term goals.
That’s why smart-money app Plum has launched a range of features to help its millions of customers save without even noticing.
The app is known for its helpful features that customers can switch on to help them set money aside without having to think about it, known as its “auto savers”.
Its most recent feature is a new artificial intelligence (AI) chatbot, powered by Google’s Gemini, which directs them to where their money may be best suited.
Plum’s AI Assistant gives general guidance only. It’s not financial advice and may be inaccurate. Please verify information before making decisions.
The tool asks users about their income and long-term goals, as well as other questions to figure out much they have available to save.
It then directs them to where their money may be best suited, or any potential ways they can cut costs.
The “Ask Plum” feature does not offer advice but instead offers guidance to help customers find features or products that might fit their needs best.
Research by the Association of British Insurers found that 76 per cent of people made a decision that led to a better financial outcome when they received this type of personalised guidance.
Ask Plum is just one of the app’s features* that aims to help customers save extra money. One of the most popular is the “automatic’” rule, where Plum analyses your income and spending, identifies how much you can afford to save, and then sets aside a regular amount each month. This is designed to be small enough that you don’t even notice it.
Another top feature is the “Naughty Rule”, where cash goes into your savings every time you shop at a retailer that you have marked as a guilty pleasure.
The Plum platform includes multiple featuresThere is also the “round-up” rule, which rounds up your purchases to the nearest pound and puts the difference into your savings account.
Plum also recently introduced a new “Sunny Day” rule that sets aside an amount of money whenever it’s sunny where you are, starting from £1 and working up to £20.
Customers who opt to set aside £20 whenever could save £2,120 in just one year, based on last year’s number of sunny days.
If you don’t fancy using a “rule” to save money, Plum offers a range of fun savings challenges instead, such as the 52-Week Challenge.
This is where you save an extra £1 each week, starting with £1 in the first week, £2 in week 2, £3 in week 3, and so on. By the end, you would have saved up £1,378.
There’s also the 1p challenge, where you save an extra penny per day for one year. Incredibly, you would have saved up £667 by the end of the year. Challenges are only available for paying subscribers.
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Plum is not a bank. Some Smart Saving Rules are paid features, and therefore fees apply.
Victor Trokoudes, CEO and co-founder at Plum, said: “Saving can often feel like an uphill struggle. That’s why many of our users find automation helpful when it comes to meeting their savings goals, so they don’t have to actively do it themselves.”
To help boost your savings, Plum offers a competitive 4.37 per cent variable rate on its cash ISA – a savings account where interest earned is tax-free.**
Plum customers can also get hold of their savings easily and there are no fees or penalties for withdrawals. Your money is covered by the Financial Services Compensation Scheme (FSCS), which protects up to £85,000 per customer. (Plum is not a bank).
For those with a nest egg already set aside, you could consider investing. The stock market has historically outperformed money held in cash over longer periods. Forecasts are not reliable indicators of future results.
Plum helps savers invest – and you don’t need to be an expert to get started. You can invest as little as £2, and the app offers a range of professionally managed funds designed to suit different risk appetites, including “safe haven” funds for more cautious investors.
Remember that the stock market can go down as well as up, so you could end up with less than you invested. Capital is at risk.
*Some features are only available with a paid subscription.
**Rate includes a Plum bonus of 1.41 per cent AER (variable) if kept for 12 consecutive months and is for new customers only. The interest rate for ISA transfers is 3.04 per cent AER (variable). Interest on our Cash ISA varies. This is the rate from 14/09/25. ISA rules and T&Cs apply
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