This smart chatbot helped over 20,000 people to get out of their overdraft by saving for them automatically - here's how it works

Overdrafts are terribly easy to get into and and horribly hard to get out of. We all know we should be being better with our money, but the reality of doing so is much harder without any help.

Knowing what we should be doing is the easy part.

We know we should be saving and putting money aside for our future, like for a house deposit or our retirements. The hard part is actually knowing how to do it, - knowing how much to put aside, keeping track of your spending, figuring out your budget and remembering to actually do all the above every day/week/month/year... Especially when you're trapped in your overdraft!

Luckily, there’s a free and easy way to put money aside that works automatically based on your income and spending, which also adapts to your authorised overdrafts: Plum.

Recommended by Financial Times, BBC, and Money Saving Expert and with over 375,000 users in the UK.

Here's how it works:

1) You link Plum to your bank account so it can analyse your spending patterns and income. Using this, Plum calculates how much you can save without impacting your lifestyle.

2) Plum then puts small amounts aside automatically every few days which quickly add up to a nice stash. It is even clever enough to help you save to get you out of your overdraft - just type 'overdraft'.

3) Add your authorised overdraft limit to start saving on overdraft and Plum will never save beyond that limit. That way, Plum keeps saving and you can use it to pay off your overdraft and start using it less and less. Plum always recalculates, so will use less and less of your overdraft to save as you use less of it. Gradually saving your way out of it for good.

4) Plum will whir away in the background automatically moving money into your savings.

5) Plum will also notify you when you are paying bank fees due to your overdraft, so you can fix it with your bank! Say no more to ridiculous overdraft fees.

Try it now here - it's free.