No matter how disciplined we are with our personal finances, it can sometimes feel like a challenge to consistently budget and save money.

Human willpower is a finite resource. So, while a money-saving app or budgeting app like Plum can help automate aspects of your financial strategy, it’s important to allow yourself a little leeway in your budget for the odd treat, too. And this is where our new Naughty Rule might come in handy!

What is the Plum Naughty Rule?

Plum’s automation is designed to analyse your spending and adapt.

We also offer Round Ups and gamified Rules, like the 52 Week Challenge and Rainy Days, to make the process of setting money aside more engaging. Because we believe they can help you save more over the long term.

The Naughty Rule is the latest addition to our range of automated deposit methods. It will set money aside whenever you shop with a merchant that you specify as ‘Naughty’ 🤭 Not that we would ever judge!

We made this Rule to recognise the fact that we all need a cheat day away from our budget occasionally. It can ease some of the associated ‘buyer’s remorse’ from your naughty purchase… And most importantly, keep you moving towards your goals when you feel you deserve a treat.

How does the Naughty Rule work?

Customers can use the Plum app to choose from a selection of retailers where they might want to limit their spending, such as fast food outlets and clothing stores. So, whether your weakness is takeaways or online shopping, we’ve got you covered.

Once the customer has confirmed their particular Naughty merchant, we’ll arrange to deposit a fixed amount of money whenever they spend with them using their linked bank account or Plum Card.

The amount that’s set aside is controlled by the customer through the Plum app, with options ranging from £1 (for those feeling ‘Mildly Mischievous’) to £10 (for those feeling ‘Very Villainous’).

The Rule can only be triggered a maximum of once per day, should the customer make multiple purchases from the retailer within a 24-hour period. Money is taken weekly, in a combined deposit with other Rules.

Who can use the Naughty Rule?

The Naughty Rule is currently available to UK customers who are subscribed to our Plum Ultra tier (priced at £4.99 per month, with a trial month free).

It forms part of our Ultra suite of smart budgeting tools, which also includes:

• Our Visa debit card lets you spend money straight from Plum.
• Full access to our Spend Tracker  that can help you manage your budget.
• Access to the 1p Challenge (to set aside £667.95 in a year).

Note, for customers who want to access all of Plum’s features (including our full range of investments and automation options), we offer a Premium tier.

What other Rules does Plum offer?

Automatic (algorithm)

Our algorithms adapt to track your spending and income, calculating what you can afford to save and arranging to deposit small amounts to your Plum Account, without leaving you short for what matters.

Round Ups

Save as you spend by setting aside any spare change from purchases.

Pay Days

Deposit a set amount when you’re first paid… And before life gets in the way!

52-Week Challenge

Starting with £1, each week this Rule will set aside £1 more than the week previously, for an entire year. That’s a total of £1,378.

1p Challenge

A lighter version of our 52-Week Challenge, which instead begins with 1p and increases the amount deposited daily to reach a total of £667.95.

Rainy Day Rule

This Rule is triggered once for each day that rain is forecast in the area where you live, setting aside a fixed amount of your choosing.

What else does a Plum subscription offer?

Plum Basic (free)

Even the Basic (free) version of our smart money app lets you automate deposits, start saving money in a Pocket that pays interest and access stock investing, so you can trade fractional company shares.

Here’s what you can expect from Plum Basic:

• Earn interest on your savings with 1 Interest Pocket* (your bank might call this a savings pot, but it works like a regular savings account).
• Automate deposits with our Algorithm or Round Ups.
• Invest in over 1,200 company stocks commission-free†.
• Consolidate existing pensions and get tax relief on contributions when you invest for retirement with a SIPP‡.
• Unlimited withdrawals, with no hidden charges or fees.
• Use the Splitter to automatically save into an Interest Pocket.

* Easy Access Interest Pockets are provided by Investec Bank Plc. and protected by the Financial Services Compensation Scheme (FSCS).

† Other fees apply. Capital at risk. ‡ Capital at risk.

Plum Pro (£2.99 per month)

In addition to the smart stuff in our Basic tier, Plum Pro provides a better interest rate, more ways to save money with gamified deposit Rules, access to our introductory range of investment funds, customisable Pockets and Cashback.

Here’s what you can expect from a Plum Pro subscription:

• A higher interest rate compared to Basic for your savings.
• Gamified deposits with our 52-Week Challenge or Rainy Days Rule.
• Create up to 15 Interest Pockets* and set separate savings goals.
• Choose from our introductory range of diversified investment funds† (more funds are available with a Premium subscription) and use the Splitter to automatically apportion your deposits between savings and a Stocks and Shares ISA or General Investment Account (GIA).

* Easy Access Interest Pockets are provided by Investec Bank Plc. and come with FSCS protection. † Capital at risk.

Plum Premium (£9.99 per month)

A Premium subscription can complete your Plum experience by offering our best rate of interest and more investing options, with a wider range of funds and stocks to pick from. That’s in addition to everything in our lower tiers, including full access to our Spend Tracker to help you budget.

Here’s what you can expect from a Plum Premium subscription:

• Access our best rate of savings interest*.
• Invest in up to 3,000 company stocks, commission-free†, including meme stocks, greater geographic diversification and a wider selection of the brands you know and use every day.
• Invest in our complete range of funds‡, which offer opportunities for greater diversification with assets like Gold, Biotech and Real Estate.
• Once you’ve decided on your strategy, you can make automatic investments with recurring stock buy orders.

* Easy Access Interest Pockets are provided by Investec Bank Plc. and come with FSCS protection. † Other fees apply. Capital at risk. ‡ Capital at risk.

To learn more about Plum and our latest interest rates, you can check out our website.