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I’m a firm believer that £1 saved is as important, if not more so, than £1 earned. Especially if you use your savings to invest, pay annually for household expenses to save money or to better yourself. There are so many ways to save money but one area people often overlook is day-to-day spending and family finances. I have a post on creating a budget but am also a firm believer in using Fintech apps, such as the Snoop app, to help reel in the overspending on groceries, online shopping and general day-to-day purchases.
What is the Snoop app?
Snoop is a 100% free to use app that uses open banking, without having access to your bank details, to see an overview of all of your bank accounts and credit cards in one place.
Snoop will display information of all of your accounts and their balances, while keeping a beady eye on your accounts, and spending to make tailored suggestions to better your finances.
Using the Snoop will help you to save money, and be sure that you’re not being overcharged for products and services.
Snoop will browse your purchasing habits and when using the app you will see suggestions to help you save money. These are not ‘one size fits all’ and are tailored to your favourite shops, products & services you already use and your spending habits.
Snoop partners with great brands, such as Quidco, to be sure they’re helping their app users to make the most of their money.
Is Snoop safe?
Yes! Snoop uses super-secure open banking technology to access your information, helping have it all handy in one place. You can also watch how Snoop keeps your data safe. Snoop is authorised and regulated by the Financial Conduct Authority for the provision of payment services.
Snoop won’t ask for, or see your account passwords or login details.
How can you use Snoop to help you manage your finances?
As well as seeing all of your accounts at a glance, and receiving daily balance alerts, Snoop offer some other great skills such as:
Mobile bill monitor – to track your mobile bill payments and advise you when you could make a saving (sim-only for now but handset deals coming!).
Reward miles monitor – Snoop will note which rewards programmes you may be using and spot opportunities for you to earn more!
Energy switching monitor – Snoop will spot when you could be overpaying on your energy bill and help you find a better deal.
Annual insurance checker – Snoop will remind you when it is time to renew your insurance, to help you find the best deal before your renewal is due.
Bill tracker – To tell you when your bills go up or down, or when you could be overpaying.
Account summaries – Snoop will provide weekly and monthly summaries of your accounts so you can see how your finances are working for you.
Snoop is always growing and evolving and these are some of the upcoming features that sound very exciting:
Payday predictor – to predict your account balance based on your regular and one-off spending.
Mortgage minder – to help compare your mortgage payment with other mortgages on the market, to help you stay on the best deal.
Budget setting – for each of your accounts you’ll be able to see a budget, and see how you’re shaping up throughout the month.
Media monitor – an automatic check on your TV and broadband bills and a reminder about better deals that may be available to you.
If you’re looking to get on top of your own finances and start to make small changes to do better, then an app, such as Snoop, is a great way to start. Snoop takes away the effort of having to manually trawl your account looking for transactions and will help you make small, achievable steps towards saving money, getting the best deals and ensuring that you’re not being overcharged for services.