The FREE Money Saving App that EVERY Student Needs!
OK guys, I don't frequently RAVE about things, especially not apps, as I'm still relying on my 'has seen better days' iPhone 4S, with the rapidly depleting battery and cracked hardcover, but you NEED to download this app.
When I came to University back in September 2012, money management was a huge issue, despite essentially being raised on the concept of shopping second hand to save money, and a general pervasive philosophy of thriftiness - I was only just 18, living in central London, in my first few months at University... my sensible side hardly stood a chance!
Cue a few months of ending up with literal pennies in my bank account- and for anyone who has spent any length of time subsisting on 11p Asda Basics noodles, you will understand why I wish no other student to meet the same fate.
The app is called ON TREES, and is produced by the price comparison site MONEYSUPERMARKET. It is totally FREE, you just have to sign up to Money Supermarket in order to get it working. You can check out the website here.
It basically is a brilliantly designed personal finance app, that helps you to visualise your spending as categories and allows you to set monthly budgets. Seeing a breakdown of your expenses in this way can be a real wake up call, and definitely encourages a more sensible attitude towards money.
I've now set myself budgets for transfer (ie. money I am putting into my savings), clothing, personal care (think make-up, shampoo etc.), cash withdrawals, restaurants, entertainment and groceries. I will probably write a follow up post about this app in a month's time and let you know of my progress.
Have you got any better money management systems that work for you? What is your experience with OnTrees?