Best budgeting apps for 2025: Monzo, Plum and more

In an age where digital banking has become the norm and financial management increasingly happens at our fingertips, budgeting apps have evolved from simple expense trackers to sophisticated financial companions. These powerful tools now offer everything from automated savings and investment opportunities to personalised spending insights and subscription management.

The UK market in 2025 features several standout contenders that have refined their offerings to address different financial needs and preferences. Whether you're looking to build savings automatically, gain visibility across multiple accounts, earn competitive interest rates, or simply stop money from slipping through your fingers on forgotten subscriptions, there's a budgeting app designed specifically for your financial goals.

This guide examines five leading contenders - Monzo, Plum, Chip, Emma, and Snoop - highlighting what makes each unique in the crowded financial technology landscape. From full-service digital banks to AI-powered savings assistants, we'll help you navigate the options and find the perfect digital companion for your financial journey.

Monzo: All-in-one digital bank

Monzo has cemented itself as one of the UK’s most popular digital banks, offering an app-based experience that blends traditional banking with modern money management tools. It provides a data-driven approach to budgeting, helping you track spending, save smarter, and manage your finances with real-time insights.

Key features

• Instant spending notifications: Real-time alerts whenever money enters or leaves your account.

• Savings pots: Set aside money in separate pots and utilise features such as “roundups” (rounds up every pound you spend to the nearest pound and puts the difference in your chosen savings pot) and “lock your pot” (freezes your pot so you can't spend for a chosen period of time).

• Budgeting tools: Set spending limits, track categories, and receive insights into your spending habits.

• Get paid early: Get paid a day early when your wages are deposited into your Monzo account (T&Cs apply).

Cost

Information correct at time of publishing.

Pros and cons

Pros

A full-service digital bank with robust budgeting tools

Instant spending notifications and real-time insights

Strong security measures and FSCS protection

Cons

Some premium features require a paid subscription

No physical branches for in-person banking support

Plum: The AI-powered financial assistant

Plum has emerged as a robust money management and budgeting app, leveraging artificial intelligence to automate savings and provide insightful financial analytics. By linking directly to your bank accounts, Plum analyses your spending patterns and determines optimal amounts to set aside - making the savings process effortless. 

Key features

• Smart automated savings: Unlike basic round-up savings apps, Plum uses AI to assess your income and spending habits, adjusting the amount it saves accordingly. You can also set savings rules, like "Pay Days," which set aside larger sums when you get paid.

• Investment opportunities: Plum allows users to invest your savings into various funds, including ethical and tech-focused options, enabling your money to grow over time.

• Spending categorisation: The app breaks down your expenses into categories, helping you identify areas where you can cut back.

• Bill tracking and switching: Plum monitors your recurring bills and suggests switching providers if you could save money elsewhere.

Cost

Information correct at time of publishing.

Pros and cons

Pros

Comprehensive financial oversight, integrating savings, budgeting, and investments

AI-driven automation for effortless saving and spending insights

Security features like bank-level encryption and two-factor authentication

Cons

Advanced features (such as investments and more savings rules) require a paid subscription

Some users may prefer more manual control over savings

Chip: High-yield savings made simple

While Chip also offers automated savings, its main differentiator is the ability to earn market-leading interest rates. It partners with financial institutions to offer high returns on savings accounts, making it a go-to app for those who want to maximise their savings with minimal effort.

Key features

• Competitive interest rates: Unlike traditional bank savings accounts, Chip offers some of the best interest rates available in the UK by working with financial institutions that provide higher returns.

• Automatic deposits: The app analyses your spending and transfers small amounts into savings, but unlike Plum, it focuses on growing these savings through high interest rather than AI-based budgeting insights.

• Savings goals: Users can create multiple savings pots for different financial targets.

• Investment options: For those looking to take savings further, Chip offers investment options, but its main strength is still high-yield savings.

Cost

Information correct at time of publishing.

Pros and cons

Pros

One of the best UK apps for earning high interest on savings

Simple, goal-based savings with easy withdrawal options

No minimum balance required

Cons

Access to the highest interest rates requires a premium subscription

Fewer advanced budgeting features compared to Plum or Emma, for example

Emma: The ultimate financial aggregator

Emma positions itself as a financial advocate, aiming to help users avoid overdrafts, find wasteful subscriptions, track debt, and save money. Unlike Plum and Chip, which emphasise saving, Emma is all about giving you complete visibility over your finances by connecting all your bank accounts, credit cards, and investments in one place.

Key features

• Account aggregation: Emma links to multiple bank accounts, giving you a single dashboard to monitor your financial health.

• Subscription tracking: The app identifies recurring subscriptions and alerts you to services you may no longer need.

• Spending analysis & budgeting tools: Unlike Chip, Emma provides in-depth spending analytics and helps you create detailed budgets.

• Cashback and rewards: Some premium users can access cashback offers when shopping with select retailers.

• Credit boost: Exclusive Rent Reporting feature allows you to report rental payments to improve your credit score.

Cost

Information correct at time of publishing.

Pros and cons

Pros

Provides a more comprehensive financial overview than competitors

Excellent for spotting and cancelling unnecessary subscriptions

User-friendly design with clear spending insights

Cons

Limited free features - advanced options require a subscription

Not the cheapest - costs £14.99 a month to access the full range of features (Emma Ultimate)

Snoop: Money-saving tips on your mobile

Snoop is a UK-based budgeting and money-saving app that connects to your bank accounts to give you a full picture of your finances. Its main mission is to help you spend smarter, minimise waste, and spot opportunities to save. Think of it as your financial co-pilot - except it never sleeps and never misses a trick.

Key features

• Account aggregation: See all your accounts, balances, and transactions in one app via Open Banking connections.

• Spending insights & budgets: Categorises your spending, tracks trends, and lets you set budgets by category.

• Bill tracking & alerts: Monitors subscriptions and regular payments, notifying you about price hikes or duplicate charges.

• Money-saving suggestions: Sends personalised recommendations and offers based on your spending habits.

Cost

Information correct at time of publishing.

Pros and cons

Pros

User-friendly and visually intuitive

Excellent for spotting forgotten subscriptions or creeping bills

Loads of actionable savings suggestions without overwhelming the user

Cons

No in-app savings or investments - it's purely a budgeting tool

Advanced features (like custom categories and exportable data) locked behind the paid plan

Which budgeting app is best for you?

Each of these apps excels in different areas, so your choice depends on what you need most:

Information correct at time of publishing.

Quick decision guide:

• Choose Monzo if you want a full-service digital bank with integrated budgeting tools.

• Choose Plum if you prefer AI to handle your savings decisions automatically.

• Choose Chip if earning the highest interest on your savings is your priority.

• Choose Emma if you need visibility across all your accounts and subscriptions.

• Choose Snoop if you want personalised tips to reduce spending and cut financial waste.