The trick with any budget is to prioritise your essentials and savings, before working out how much you have left for day-to-day living… and hopefully some fun stuff too! 🎉

What is Plum True Balance?

True Balance represents a significant evolution for Plum. We’ve always had your back when it comes to setting more money aside, but this premium feature provides actionable insights that you can use to adapt your spending habits 📉

The process begins with our Diagnostics feature, which benchmarks your spending against other Plumsters with a similar financial profile 👨‍👩‍👧‍👦 This is based on factors such as where you live, how old you are, and how much you earn.

Our Diagnostics report will identify areas where you may be over-spending, for example. While this knowledge can be very powerful, it doesn’t itself provide a cure for the problem… but that's where True Balance comes in!

True Balance takes some of the guess-work out of budgeting by giving you a rolling account balance which has been adjusted to provide your true financial picture (i.e. once any bills or other payments have also been considered). By doing so, True Balance can help you identify when things are a little tight, which means you’re less likely to over-spend by accident 😯

How does Plum True Balance work?

It works by subtracting any regular payments from your available bank balance, to give an adjusted ‘True Balance’ (do you see what we did there?) of how much you have to last until you next get paid.

And because Plum detects your income automatically, it doesn’t matter if you get paid weekly, monthly, or if your income is less regular. You can even edit the regular payments that Plum finds to fine-tune your balance further still 👌

At present, True Balance is only available for Plum Pro subscribers using our iOS app 🍏 We’re currently working on the Android version which is expected for release later in the year 🤖

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