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Saving the easy way with Moneybox

06/06/2017 0 Comments

It’s been a month since I first started using the Moneybox app and I have a bit of a confession to make – I totally forgot to log in for the first 10 days after it had been set up, as there was nothing more to do, other than to go about my daily business, buying all of the usual things that I would (READ: coffee).

I worried that nothing would have happened and I’d have missed out on a week’s worth of saving, but when I logged in, sure enough there it was, almost £20 saved towards Bell’s Junior ISA (JISA). I was so impressed, I’d been saving a little each day without even noticing and trust me, I’m not some money bags who loses £50 down the back of the sofa.

After a good nose around, I was able to see each of my transactions, how much I had saved and where it had been invested. I actually found it quite fun (nerd alert). The savings you round up are collected from your account on a Wednesday which is worth making a note of, so you won’t end up thinking money has magically vanished thanks to those pesky money fairies when you come to check your balance a few days later. Thankfully, you can change the amount you want to save at any time during the week.

I have set my round ups to happen automatically, but you can also choose to do them manually. What’s more, I can also choose which purchases I don’t wish to round up with a single swipe too (particularly helpful towards the end of the month).

The thing that I love most about this app is that it’s encouraged me to finally prioritise saving for Bells future, even when I’m considering that extra pair of shoes I really don’t need. We’re planning to build on our round up savings and add some lump sums for her over the next few months as well. Something tells me that we’ll be reaching that £4,128 annual tax-free limit before we know it… who’d have thought it?

I know that I’d been asked to give this app a go by Moneybox, but even now that the month’s trial is up, I’m definitely going to continue using it. I just wish all of our finances were this simple.

You can find out more about Moneybox here or download it for free from the App Store for iOS.

M xox

NB: Whilst this is a sponsored post, I would by no way choose to write about it unless I really liked it and would choose to use it anyway. Pinky promise.

I should also mention that with Moneybox, as with all investing ,the value of your child’s investments can go up and down over time and you could get back less than you invest. The Junior ISA rules also depend on individual circumstances and the tax treatment is subject to change.

Melanie Kentish

Hi! My name's Mel and I'm a 30 something blogger living in Windsor, UK with my two ginger cats and a rather handsome husband. White Cotton Peonies is the place where you'll find my ramblings on health, fashion, beauty, food and my random adventures as a soon-to-be mum. Enjoy.

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