The best free bank budgeting tools that you already have on your phone
Share:
BUDGETING apps are a great way to help you stay on top of your finances. From counting the pennies to stopping you paying too much for subscriptions, your phone can make it much easier to track spending and take some of the pain out of saving. But lots of apps now charge a monthly fee.
![[Many banks have useful tools attached to free accounts for no extra cost]](https://www.thesun.co.uk/wp-content/uploads/2024/12/0a1b7f66-e986-4008-9e97-ce3b4322ebacjpg-JS956950771.jpg?strip=all&w=960)
Before you pay, check out what is on offer from your bank. Many high-street banks, and digital rivals such as Monzo and Starling, have useful tools attached to free accounts for no extra cost. Laura Whateley explains some of the features to look out for . . .
![[Budgeting apps are a great way to help you stay on top of your finances but first check what is on offer from your bank]](https://www.thesun.co.uk/wp-content/uploads/2024/12/s-appearing-metadata-photo-adrian-676211445.jpg?strip=all&w=960)
“DIGITAL savings pots are a popular budgeting feature and a really useful way to organise your money and achieve specific goals,” says Amelia Murray, deputy editor of personal finance website Be Clever With Your Cash. Think of them as mini savings accounts, or “digital jam jars” attached to your main current account that you can label as you choose.
It is much harder to keep an eye on where your money goes if all of your income is kept in one current account. You can move cash into savings pots easily so there is less temptation to spend it. Some banks even allow you to lock them, to add a barrier so that you don’t accidentally dip into the funds.
“You can set up lots of different pots to save for the things you want or need,” explains Murray. Banks that offer savings pots with their free accounts include Monzo, Starling, Kroo, TSB and Chase. You can even earn impressive interest on digital savings pots.
