7 simple ways you can spring clean your finances with a money app

With every new season, comes change. And we could all use a little extra. That’s right - we’re not just talking about the daffodils and a new wardrobe. This spring, welcome change by shaking up your money routine, getting back on track with any of those goals you set back in January, and giving yourself – and your money – a fresh start.

If you’ve ever wondered how you can use a money app to spring clean your finances, look no further. We’ve got seven simple ways you can do just that with Yolt this spring. We promise, once you’re done, looking at your money will be like a breath of spring air!

Spring Clean Total Balance

1. Take stock of everything you have

This one’s important. Even though it might seem scary, if you want to grow and improve, you need to know where you stand. That means knowing exactly how much money you have across your accounts and credit cards. You can connect your current accounts and savings accounts, along with any credit cards, to Yolt for a full view across your money. Once you’ve done that, set up your Total Balance, so you can quickly see exactly how much money you have across those connected accounts.

Once you’ve set it up, your Total Balance tells you your total spending power: your total sum across your accounts, with any credit bills and upcoming debits subtracted.

Spring Clean Categories And Merchants Copy

2. Tidy up and get organised

That’s cleaning 101 – for your money. Once you’ve connected your accounts to Yolt you can see exactly how much you’re spending across different merchants (from Tesco to Ted Baker) and categories (from Eating Out to Education). Get organised by re-categorising your expenses according to the categories that make sense to you – for example, you can sub-categorise your ‘Eating Out’ expenses as Lunch and Coffee.

There are 21 categories to choose from, but if you want to be more specific, you can use tags to organise your spending with any label you want, from #BirthdayPlans to #HawaiiHoliday. Then you can track any and all expenses that fall under that label to how much you’ve spent.

Spring Clean Subscriptions

3. Throw away the things you don’t use

OK, you’ve taken stock of your money, you’ve organised your spending. Now, it’s time to declutter and get rid of all that stuff you don’t use! We’re talking old gym memberships, forgotten magazine subscriptions, and any other direct debits you haven’t thought about since 2007. Head to the Yolt Subscriptions Tracker to find any forgotten subscriptions. Once you know what you’re not using, you can cancel them and save – that’s pretty easy money.

Spring Clean Left To Spend And Budgets

4. Set rules and targets

You’ve done a lot of the heavy lifting, so now it’s time to get proactive so things don’t fall back into old habits. That’s where budgeting comes into play! Head to your Yolt dashboard and set up your ‘Left to spend’ tile. This is perfect for setting a top-level spending target for every month. With this spending target in mind, you can now set individual budgets for all your top categories, making sure they all fit inside that top level spending target.

Bonus tip: If possible, it’s best to set a spending target below your monthly salary. Then, any money left over at the end of the month can go straight into savings.

Savings Tile Yolt

5. Sow the seeds for good savings

Speaking of savings…Once you’re spending smart, saving smart starts to come naturally. There are few simple ways to amp-up your saving plan with Yolt. First set up your Savings Tracker on your dashboard. You can link one of your connected accounts to keep an eye on your monthly savings and see all your hard work in plain view – as they say, seeing is believing! As we mentioned in #4, try to put any leftover money from your ‘Left to spend’ target straight into savings at the end of the month.

If you’re thinking long-term about your savings, great! You can also see your pensions and investments in Yolt thanks to our connections with PensionBee and Wealthify! Check them out in the Yolt Actions tab.

6. Save on your energy

Get smart about where and how you can save that little bit extra by looking for better deals. Now that winter is over, it’s the perfect time to look back on your gas and electricity bills – you might be taken aback by just how much you spent. It’s also the perfect time to shop around and look for better deals. Did you know, that by switching energy providers, you could actually save up to *£302? That’s why we’ve just teamed up with leading energy comparison provider, MoneySuperMarket. Head to your Actions tab in Yolt and tap MoneySuperMarket. Then you can easily compare energy deals, see what you could save, and switch – all in Yolt!

Spring Clean Notifications

7. Set up reminders to keep you on track

You’re basically a pro now, but even the best of us need a hand when it comes to staying on top of our money. Yolt’s spending notifications do just that. Enable them in app, and we’ll send you handy reminders about your spending, from upcoming payments to a friendly nudge if you’re nearing your ‘Left to spend’ target!

That’s it! Now you’re a money pro, go out and embrace all that positive change you can look forward to this spring.

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