Acorns App is NOT Available In The UK – Use This Instead ✅
If you’re looking to start getting smart with your finances in 2024, the Acorns app is brilliant. But it isn’t available in the UK. Here’s a rock-solid alternative
Best Acorns App Alternative
The best alternative to Acorns in the UK is Plum. It works in much the same way – it uses spare change from your transactions to build up savings and investments – via an app on your phone that connects to your bank account.
Setup is simple, there’s no cost for signing-up and getting started, and if you need more information we have a full write-up on Plum and how it works for a broader overview of what’s involved.
Micro-investment apps are great. Ones that use the spare change from your transactions (like Plum and Acorns) are even better because you don’t even notice the money leaving your account.
This takes away the “pain” of saving money because it is 100% hands-off and, providing you set things up correctly, you should not ever “feel” like you’re actually saving (or losing spending money).
If you’re looking to get smarter with your money, these apps are brilliant tools that anyone can quickly implement. This is the main reason why both Plum and Acorns are listed inside our essential iPhone apps guide.
The Quickest Way To Save £1000
In most cases, Plum and Acorns users don’t even notice the money going from their accounts. I know this because I have been using Plum for over two years now and, to date, I’ve accumulated close to £6,000 thanks to micro-investing.
And it accumulates quickly. Most people could easily save and/or invest over £1000 in 12 months without lifting a finger. And the best part? It works even if you’re skint – 20p, a quid here, 50p there. It all adds up.
If you’re unfamiliar with how fintech apps like Acorns and Plum work, it’s actually really simple:
They plug into your bank account and work in the background, deducting small amounts of money from your account which are then deposited in either a savings account or an investment account.
When you spend money, say £2.75 on a coffee, the app will round-up the sum to the nearest pound, so, in this example, £3.00, and deposit 25p into your savings.
Do this thousands of times a year and the savings quickly add up.
I bought myself a PRS guitar with my savings in 2022, and in 2023 I’ve really upped my investments, running a range of funds and a few, choice stocks that I know are solid growers.
Investing Made Simple
Most people never invest in the stock market, companies, or index funds because they think it is too complicated.
Doing it manually is very complex but apps like Acorns and Plum do all the heavy-lifting for you.
All you have to do is sign-up, select some options, maybe pick fund or two, and do a little wider-reading if you’re going to start picking individual stocks.
And that’s it. You don’t need a financial advisor, there’s no paperwork, and you’ll get PDF invoices of all your trades and sales.
Or, you can just use it to squirrel away cash either just for the sake of saving or for a special occasion like a wedding, holiday, or the deposit on a new home.
Plum Features & FAQs
Here’s a quick breakdown of everything else you need to know about Plum, how it works, and its security and regulatory credentials:
🧠 Smart AI for Automated Savings and Investments
Plum’s AI is a financial genius in your pocket. It effortlessly analyzes your spending and stashes away money for savings or investments, making it perfect for hassle-free financial growth.
💰 Interest Earnings on Your Savings
Your savings aren’t just sitting there; they’re growing! Plum pays interest on your savings, turning your financial patience into profit.
🗺️ GPS-Like Budget Management
Navigating your finances is easier with Plum’s advanced budgeting tools. They guide you like a GPS, helping you adhere to your financial roadmap with precision.
🔒 Regulated and Secure
Feel safe with Plum. It’s regulated by the FCA and safeguards your savings and investments under the FSCS, providing a trustworthy financial haven.
🛠️ Versatile Personal Finance Toolbox
Plum is more than just a savings app; it’s a comprehensive financial toolkit. Link multiple accounts, plan for retirement, and even save on utility bills. It’s the Swiss Army knife for your wallet.
🏆 Final Thoughts
Plum is a game-changer in personal finance management – user-friendly, secure, and brimming with features. Whether you’re new to saving or a budgeting wizard, this app is a valuable ally in your journey to financial wellness.
It makes saving and investing so simple anyone can do it. You can get setup in minutes and start getting your money working for you via the magic of compounding interest.
And while there are plenty of investment phone apps out there, apps like Nutmeg, for instance, the difference between those and Plum is that Plum works on micro-investments – small, regular investments that you do not notice leaving your account.
With something like a Nutmeg account or a Vanguard fund, you need to commit to spending a fixed sum every month. For plenty of people, this just isn’t doable – time’s are tight right now.
But everybody can spare the odd bit of change here and there, and the magic of Plum – and Acorns – is that these small amounts of change quickly add up to create rather large piles of money.
Try it out. I guarantee you’ll be blown away by just how much cash you can accumulate inside just a few months.
If you want to painlessly set money aside, save money on your household bills, and easily invest in the stock market (without lifting a finger), the Plum App is 100% worth a look. In 12 months, I've managed to save over £1000 without even noticing it going out of my account. The AI works great and the app is insanely simple to use.