*AD-This post is written in collaboration with Tandem
I have a problem with wanting to get too much done in too little time, my To Do lists are always a mile long and there is only so much time in a day or week that I have to work on them, as a result a lot of stuff gets put to one side to come back to ‘when I get a chance’ which invariably is never.
One of the solutions I have found to the problem of never having time is ‘automation’, setting things up so that they happen automatically and I don’t have to worry about them, and it’s working really well!
So far I’ve automated our dog food delivery, our groceries are set to come on a certain day each week, I’m looking at some toiletry subscriptions and now I’ve started to automate my personal savings!
Our joint savings for things like Sinking Funds, BS3 and the house deposit are worked into our budget and sorted out on payday but at the moment I don’t have anything in my own personal savings. I’d like to have a little saved up in case I find something I really want to do or buy that’s outside of my monthly budget.
This is where Tandem comes in…
It was super easy to get started with Tandem, It was just a case of downloading the app (you can use my referral code to join!), entering my details to open a savings account (which pays 0.5% interest) and then connecting my current account so that they can see my transactions to make my ‘Round Ups’. All in all it probably took me less than 10 minutes!
Once it was set up I could decide how I wanted to save my money, there is the option to use ‘Round-ups’, Weekly Deposits and a ‘Safe to Save’ option.
What are ‘Round-Ups’?
When you make a purchase from any current accounts that are linked to your Tandem app, they are rounded up to the nearest pound and the extra pennies are moved into your Tandem savings account! Its a pain free way of saving and the pennies soon add up.
What is ‘Safe to Save’?
The Safe to Save option will calculate how much you can afford to save based on your income and outgoings.
I saved £5.58 in my first week using the app just from round-ups! I’ve got the safe to save feature activated now so I’ll update onInstagarm to show what I’ve saved by the end of the month.
What you need to know about Tandem
Tandem is a ‘Challenger bank’ who are looking to make money management more simple. They launched their app based banking in 2018 and by early 2019 had hit 500,000 users! The app works from your smartphone and pairs itself with your existing accounts (this is all 100% safe and has the same security levels as your high street banking systems) so that it can analyze where you can make auto savings and also allows you to easily put money across into your Tandem savings account which pays 0.5% interest (AER). The app can also advise you on where you can find services and suppliers at cheaper prices based on what direct debits it sees coming out. They are fully regulated by the FCA so your money is just as safe as it is with any high street bank.