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These AI Powered Apps Will Help You Save Money

These AI Powered Apps Will Help You Save Money
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These days we spend more time on our smartphones than we do our computers, which means the vast majority of us will do our online banking on the go. As such most banks have their dedicated apps and services to make sure we can check our balances and manage our accounts with ease. But do these actually help us to save money?

In the last year, there has been a huge increase in the number of financial artificial intelligence to help you save money. The AI analyses your spending habits and either makes saving suggestions or automatically puts money aside for you.

This will help you build a cash reserve in case you have an emergency cost that needs paying instantly. If haven’t got the cash to afford an unexpected expense, My Financial Broker can help you find simple loans with no guarantors needed.

We’ve compiled a list of the best digital financial assistants to help you with your savings!


Plum is an automated service that analyses your outgoings and recommends how much you should add to your savings account. You must simply provide Plum with your online banking details. Plum does not have a dedicated app, it operates through Facebook Messenger and will notify on your current savings balance with fun emojis. With this chatbot you can quickly message it to “save £50” and it will transfer that amount into your savings account.

Plum also gives you the chance to invest your savings with RateSetter to earn monthly interest of around 3%. Although this investment is not without risk, so make sure you fully understand what you’re investing in!


Much like Plum, Chip is a chatbot that connects to your bank accounts and will calculate how much you can put into savings based on your outgoings. Chip has a dedicated app for both iOS and Android and opens a savings account for you to pay into whenever you like. Money is automatically transferred to this account on a regular basis and you can withdraw it at any time, making this a very flexible in case of emergency!

With Cleo you earn 1% interest on a quarterly basis. Although this is less than Plum, it is without the added risk! You can also raise this interest up to a gigantic 5% if you invite your friends and family to also join Chip.


Unlike Plum and Chip, Cleo does not put your money into a savings account. Instead, Cleo gives an accurate breakdown of what you’ve spent your money on in different categories such as transport, bills, and food shops. Cleo works through Facebook messenger and again requires you to enter your bank account information. You can even see which merchant you spend your money at, so you can ascertain that it’s those Starbucks coffees that are draining your monthly income!

You can ask this chatbot to set a target amount to save, and it will make intelligent suggestions about how much you will need to save. It will analyse your income and necessary expenses and recommend the best savings plan. Cleo also works with Amazon Alexa and Google Assistant in case you fancy chat!

If you do find yourself short at the end of the month, our flexible, online loans could be a convenient option for you to cover an emergency cost.

If you’re struggling to stay on top of your budgeting, perhaps these automated services can help you accumulate those all-important savings.

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