Snoop is a new app designed to help you manage your money and save more – without making it an arduous task! With the new year upon us, now’s a great time to take stock of your finances and do everything you can to set yourself up for a richer year ahead.
Snoop is a new – free! – money-saving app that looks after your spending 24/7, to make saving as easy as possible.
The app alerts you if you’re paying too much for your bills or expenses. That includes telling you when there’s a price hike on things like your broadband, mobile, or energy bills and helping you to switch – so you can save money! In January, this function extends to mortgages, too.
The whole point of Snoop is that it looks into your finances so you don’t have to. The legwork is done for you – so it’s super easy to find out where you can make extra savings in your everyday spending. More than that, you’ll also get an individual money-saving feed of hints and tips to help you save even more money based on your lifestyle and spending habits.
Thanks to Open Banking tech, Snoop is able to monitor all of your banking and credit card accounts from one place. Here’s how it works:
- Download Snoop
- Allow permissions to connect your accounts
Once you provide permission and link your accounts, it automatically keeps an eye on the expenditure of each account. This helps build a profile that the app uses to give you 100% personalised saving advice with easy things you can do to save more cash each month.
Open Banking is super-secure, too. While you give permissions for the Snoop app to link to your banking and credit card apps, it won’t EVER see your login details. Your information is always secure!
To apply for Open Banking permissions, an app must adhere to the same high standards as your bank does for their apps, too. The Government scheme is designed to increase competition in the finance industry – and it means consumers gain more control over their spending choices, thanks to apps like Snoop. Because the app has to stick to the same standards, Snoop is regulated by the Financial Conduct Authority which means there are very tight restrictions around data and how it operates – meaning you can use it with total peace of mind.
The Payment Hub
One key feature of Snoop is the Payment Hub. This shows you all of your regular bills and posts an alert if there has been a significant rise (or fall!) in your payment. It’s a great way to spot if you’re accidentally spending too much!
The Payment Hub also lets you set up contract renewal dates for each of your bills, like mobile, broadband, energy and car or home insurance. It’ll then send you alerts 3-4 weeks ahead of your renewal date to help you find the best new deal before you’re moved onto an expensive rolling contract. Even if you don’t put the dates into the app, Snoop will use your payment history to estimate when your contracts are due for renewal and send useful tips about the best deals when it thinks you’re soon due to renew.
The Credit Card Checker
A new feature for Snoop app is the Credit Card Checker. This tool scans your transactions and makes a note of your interest payments. It’ll tell you when you’ve paid foreign transaction fees, or when you’re paying interest needlessly. Soon, this feature will expand to help you transfer and switch to a new credit card too – helping you save potentially hundreds of pounds in interest payments every year!
Most savings apps help you shift your money into a savings pot (which is still a Very Good Thing To Do!). Snoop focuses on helping you save as much money as possible throughout the year through intelligent spending analysis. It does the legwork for you – telling you when your contracts have gone up in price, or where to find a great new deal when it’s time to renew. That means you could save hundreds of pounds (or even thousands) every year – and that’s the cash you can put into your savings account, rather than only sweeping rounded-up pennies into a pot.
More than that, Snoop comes with its own community. Users can join the Snoop community to share money-saving tips – and these ideas can pop up in your personalised Snoop feed in the app. Hints and tips about how others have managed to use their money-saving savvy to nab great deals or reduce their spending, all delivered straight to your personal feed! The best thing of all, of course, is that Snoop is TOTALLY FREE.
We’re all about the money-saving lifestyle here at MoneyMagpie (after all, the more you save, the more you can invest to grow your wealth!). Try these articles next to find more ways to cut your spending and save more – without removing the joy from your life!