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As a couple, we really struggle to save. We have opened up so many savings accounts with the goal of each putting in £50 a month and then at the end of each month almost nothing will get put in. This has been a cycle for a very long time and at the end of each year, we have been gradually earning higher salaries, but our savings has always been the same.
It’s frustrating, because we want to save money for a deposit on a mortgage for a house, clear our current debts and save for a wedding. None of this in the 8 years of being together has happened. Together, we still have £0 saved up by ourselves and we have become tired of this.
Enter a Facebook messaging bot called Plum*, it’s a machine learning, artificial intelligence machine. It hooks into your bank account reading only the numbers of what comes in and what goes out, as well as when this happens. Once it gathers this information, it will learn when the best time to take money out and when for your savings.
It then keeps it safe in a Barclays held account which isn’t connected with Plum, this means that if anything happens to the company (administration / liquidation) then your money is safe and you can get it back into your account when requested.
We have been using it for 3 months and together, we have saved up almost £70 which is just fantastic. This is more than we could ever get ourselves to save and we can literally leave him to do the work for us, every so often we can just drop in and ask about our savings and goals.