Investing in funds helps to diversify your portfolio by spreading your money across lots of different companies, while drip feeding your money into the stock market little but often can help reduce the volatility in your portfolio value.Īlternatively, buying individual company shares can provide a new way to customise your portfolio and back the companies you believe in.Īnd now you can with Plum, thanks to a new feature that provides the option to invest in fractional US company shares. You can begin investing in minutes from just £1, and there's an option to choose a Stocks & Shares ISA. There are choices like Tech Giants, consisting of major US companies like Microsoft and Google Slow & Steady, a diversified portfolio of 80% shares and 20% bonds and other options with an ethical focus to match your investments with your personal priorities. To get you started, Plum offers a simple range of investment funds that is intended to make the process straightforward and accessible, particularly for new investors. Remember though, nothing is guaranteed and the value of your investments can go down as well as up. The interest offered on even some of the best performing Easy Access savings accounts is currently unable to keep pace with the high rate of inflation.Īnother way of earning a return on your money that could beat inflation, or at least lessen its effects, is to invest your money long term in the stock market. This high-tech tool seamlessly transfers money into your interest account, holding it there for as long as possible to earn interest, before feeding a weekly flow of cash back to your everyday account to cover spending. You can also control the auto-stash option to increase or decrease the amount you're saving based on your 'Mood', from 'Beast Mood' - which will up it by 75 per cent - to 'Shy', which cuts it by half.įor super savers who subscribe to Plum's Ultra subscription, there's also the Money Maximiser option. This includes 'Round Ups', which will round up your transactions to the nearest pound and 'Rainy Days', which saves extra cash automatically every day it rains.
If you're looking for other ways to increase the amount of cash you're stashing away, there are lots of other fun, clever savings 'Rules' you can apply beyond the regular 'Automatic' option. Plum is regulated by the Financial Conduct Authority and money held in an Interest Pocket is covered by the Financial Services Compensation Scheme (FSCS).Īutomating your deposits can increase your chance of hitting your savings goals, be that for a rainy day fund or something longer term, like saving for a house.Īnd because the amount Plum puts away is tailored specifically to you it will never leave you short, ensuring you have money left aside for when you need it. You can choose for this money to go into an Easy Access Interest Pocket where it will earn up to 1.15% AER** - that's more than most high street banks - or invest it instead*.
You can then use the app to switch to a better deal in minutes. Plum will also keep track of your regular bills to automatically check if you're being overcharged and could save money by changing to a new provider. Rapid rises in the costs of everyday necessities like household energy can be worrying but getting a bird's eye view of your finances can help you to plan and feel more in control. That includes a monthly payments overview, which breaks down everything that will leave your account in bills and subscriptions over the coming month.
Plum does the hard work for you by connecting all your accounts and cards in one place to give you a complete view of your spending.
Everyone knows budgeting is key to effective money management, not least at a time when the cost of living is rising.Īfter all, while some people love nothing more than kicking back with a spreadsheet and a calculator, for most of us it's not quite our idea of fun!
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