Behind Plum are over a million users moving along their financial journey. We sat down with four of them to talk through their money experiences. Here’s what they had to say.
Meet Malik: “Plum has shown me that investing is attainable”
Malik is a digital content producer from East London, and like most of us, he’s in a love/hate relationship with money. In his earlier years, Malik was given solid advice to save cash, but wasn’t told how to. With money being so taboo, talking about it straightforwardly was difficult:
“Growing up I was told to save my money, but the techniques were never really presented to me. That's something I've had to go out and find on my own or ask friends for advice.”
And that’s exactly how he found Plum. After a quick Google search on ways to save money, Malik came across Plum and set off on a new money journey. As well as helping him build a nest egg, Plum introduced him to the world of investing.
“Plum showed me that investing is attainable. Suits and shiny shoes come to mind when you think of investing, but average people invest too. It doesn't necessarily mean 6 figures, it's what you can afford and what your goals are.”
But mostly, Malik’s using Plum to keep tabs on where his money is going.
“Plum is a friendly reminder of where my money's going and how I'm doing with it. It's a guide for how my month is going money wise and it shows the potential my money has, and where I can go with my future.”
💡Remember, your capital is a risk when you invest. If you invest, you should be satisfied that it is suitable for you in the light of your circumstances and financial position.
Over to Mary, who’s using Plum to take her family to Disneyland
Mary’s a governance officer, and like many parents, her relationship with money transformed when she had her daughter. Having a family to look after meant Mary had to look further into her financial future, planning for her child’s education and the fun stuff like family holidays.
And then she found Plum — her “secret weapon” that helped her build a safety cushion. With the app, she’s able to set small amounts of money aside without feeling a dent in her bank account. But those little sums can add up into something momentous: like a holiday to Disneyland.
“I'm very proud of the small amounts. They’ve added up into something tangible now. I'm going to use that to get myself back on my feet. Not that I'm falling off anywhere, but I want to book a holiday for myself and my daughter next year to Disneyland, so that will help me get there. I can't wait.”
As well as building a nest egg, Mary has started investing with Plum too. Before Plum, she understood what investing was but thought that it was a time-consuming affair. TV and film have often portrayed investing as such, dressing it up as an “experts-only” field. But in the modern world, that’s not necessarily the case. You can buy and trade stocks from your phone now with just £1*.
💡Although investing is more accessible these days, some things never change. Your capital is still at risk when you invest. So, before making any investment decisions, it’s important to do your own research to ensure that it aligns with your current financial position and personal circumstances.
Say hello to mum and daughter duo, Rosemary and Aisha
Rosemary and Aisha are mother and daughter Plumsters who are using the app to improve their relationship with money. They both explained that they have ups and downs when it comes to their finances, something everyone can relate to. When they have a concrete goal in mind, they’ll stick to it; otherwise, it’s harder to save consistently.
Now they’re both setting aside money regularly, bit by bit, without even thinking about it.
“Plum takes the money out of your account based on the amount of money that you earn. And the good thing about it is you can actually pick how much you want to save and it just really, really works for me” says Aisha.
Meanwhile, Rosemary explains that Plum “makes setting money achievable because it takes control of the amounts that you actually save. And so you become a saver as opposed to a spender.”
Those pennies can quickly add up. In fact, Aisha used Plum to buy her first home! Now that she’s on the property ladder, she’s using her money for experiences that she can enjoy with her family while Nana Rose is keen to continue treating her grandchildren!
Life flows with Plum
Money plays a significant role in every aspect of our life, and yet we’re not actively taught how to take control of it and make it work.
Plum exists to fill that gap. We want to empower people to look after their money in a manageable way. Instead of telling you to just save money, we give you the tools to make that happen consistently. While the app’s busy working in the background to get your finances where they need to be, you can focus on what matters to you.
Please remember that, as with all investing, your capital is at risk. You shouldn’t invest in or deal in any financial product unless you fully understand it and the inherent risks. Plum does not provide investment advice and individual investors should make their own decisions or seek independent advice.
All interviews were conducted in 2022 as part of Plum’s customer research.