At some point, we have all tried to budget our personal finances and, while we may have good intentions, ticking off bank statements and typing into spreadsheets is just not practical. At best, we would keep this up for a couple of months and then slowly start to forget about it. Let’s be honest, how useful is it to realise you have gone over budget a week later? What’s done is done.
Thankfully, the Fintech boom has provided us with a solution; Yolt – the smart money manager.
Yolt has taken advantage of open banking and has API connections to more than 40 banks and institutions, including credit cards. It can also be used with challenger banks, such as Monzo, Revolut and Starling. Read our blog about challenger banks here.
Connections can be set up to track your spending across all of your bank accounts. In my case, my Nationwide current account, savings account and Revolut account are all integrated with Yolt.
Budgets can be set up for various categories and payments will automatically be coded from your bank transactions. There is even a category for coffee; normally a painful sight for anyone who enjoys a Starbucks! Payments are categorised as soon as they clear your bank, giving you very real-time information. Checking a live budget before you purchase something is now possible – so there is no need to worry about it being out of date.
See upcoming bills
Unexpected payments happen to everyone at some point, so it is always good to know what expenses are around the corner. Yolt automatically identifies and displays recurring bills in a dedicated section of the app, and sends you notifications to let you know about an upcoming bill.
Find out more
The rise of the Fintech industry has led to a whole raft of useful banking and budgeting apps to help you keep track of your finances. Our tech experts are up to date on all the latest financial tools and can help you find new ways to efficiently manage your money. To find out more, or for further advice, get in touch with our experts using the details below.