A Guide to Saving Money with Plum

This post is not an advert, I am recommending Plum as a normal customer. If you sign up via my referral link, I will receive a little bonus. I am obviously not a Finacial Advisor, join Plum at your own risk. 

A Guide to Saving Money with Plum

I first signed up to Plum after reading this post by Honestly Helen back in January. I am not the best at saving, and an automated system like this seemed like the perfect way for us to save a bit of cash.  So far I have managed to save over £200 (although I have withdrawn some of that when I needed some emergency cash). At the moment, I currently have £180 sitting in my Plum account. 

You can download Plum as an app on your phone or you can use via FB messenger. I use the app and it is the app that forms the basis of my experience. 

You link the app with your bank account at you can set a number of different savings rules. For example you can allow the algorithm to check your bills and regular spending and determine how much you can afford to save each week (which I do not do). 

I personally use the round-up rule which means that Plum will round up every card purchase to the nearest £1 and transfer this to my savings. I also have the rule where if I buy something that is already rounded to £1, Plum will add another £1 to my savings. 

The practicalities of this is that Plum transfers the round-up amount as one lump sum on a weekly basis. For me, it is usually between £7-£17. Some of the £ I have in my Plum account at the moment is also via referring friends. 

Plum is super transparent and you will receive a notification of how much they will be transferring that week before they do and you can instantly stop this. You can also pause or stop any of your savings rules and transfers at any time. 

You can also withdraw your savings from Plum and transfer to your linked bank account at any time with the click of a button. Every time I have needed to do this it has been instant although it does say that sometimes it may be up to 2 hours. 


I am obviously not a financial advisor but Plum has really worked for me and I love it. I am hoping to save £500 by the end of the year. Below is information about how Plum is regulated/how your money is safeguarded. 

Your money does not earn interest while it is sitting in a Plum account and a few people have mentioned they withdraw their Plum Savings on a monthly basis and use it to pay off a credit card bill or transfer it into a Savings account which earns interest. I am going to look at doing that as it makes sense. 


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