Smart money app
Plum has launched a new
Sunny Day Rule to help users boost their savings this summer.
Each time the app receives data confirming it’s sunny in their registered location, Plum will automatically set aside money for customers who have activated the rule. The new automation has been inspired by the popular Rainy Day rule, which sets aside a particular amount of money each time it rains.
The Sunny Day Rule offers users five different modes to help boost their savings. These include:
- Shady Spot - Sets aside £1 when activated
- Sunny Side Up - Sets aside £2 when activated
- Summer’s Here - Sets aside £5 when activated
- Beach Day - Sets aside £10 when activated
- Blazing Hot - Sets aside £20 when activated
With this new feature, Plum users who turn on the
‘Summer’s Here’ sunny day automation could save around
£519 in a year, based on last year’s number of sunny days, which totalled 103. If a user were to turn on the highest savings mode - ‘
Blazing Hot’ - they could save around
£2,078 in just one year*.
Plum’s automated savings rules are at the heart of the app, to which more than 2 million have onboarded to help them invest, save, and manage their spending. These rules have proven very effective in helping people build a regular savings habit as they don’t need to actively remember to set money aside themselves. As well as the default rule which sets aside money based on people’s incomings and outgoings, the app offers a range of other popular rules.
For example, the Naughty Rule when triggered sets aside a specific amount every time someone shops at retailers they’ve marked as guilty pleasures. The 1p challenge sets aside a penny more every day to help people save up to £667 per year, while the 52-week challenge automatically sets aside £1 per week that compounds over time to £1,378 in a year.
Nivedhitha Selvam, Senior Product Manager of Automations at smart money app Plum, commented: “Saving can often feel like an uphill struggle, especially at the moment, with cost of living challenges including rising utility bills, housing payments and council tax costs. That’s why many of our users find automation helpful when it comes to meeting their savings goals so they don’t have to actively do it themselves.
“Inspired by our popular Rainy Day Rule savings automation, our new Sunny Day Rule is brilliant for people who feel like they’re behind on saving and want to make their finances brighter! The new automated feature allows users to save each time the sun shines, without having to remember they’re doing it. Over the course of a few months, you’d be shocked at just how much you can save by setting a little money aside, but frequently thanks to this new automation.”
