14 Jan 2017

Squirrel Budgeting App Review

squirrel budgeting app

Squirrel is a budgeting app with a big difference.

The difference is, it's like a very clever bank account. So clever in fact, you'll soon be asking your employer to divert your salary in to it. It's part budgeting app, part bank manager and part Dad. I'd better explain!

Here's how Squirrel works:

Squirrel works in between your bank account and your employer;  your salary is paid in to your Squirrel account who will pay money in to your bank account when the bills are due. The remaining money is divided in to savings pots, and an allowance which is paid out to you weekly. So when I said it was part Dad, I meant it!

How to use the Squirrel app:

squirrel budgeting app logo

When you first install the Squirrel app it asks you to set up your income and expenditure, so be truthful. Then saving goals, be it a deposit for a house, saving for a holiday, for Christmas presents or a car. You can personalise all of this with photos and names, it's really quite fun. Next you'll receive an email asking for photos of your drivers licence/passport and recent utilities bill to prove your identity. Reply with those, tell your employer and within a day you'll be up and running. 

How safe is Squirrel:

Very. They are powered by Barclays (you don't need to hold a Barclays account to use Squirrel) they are regulated by the Financial Conduct Authority and backed by the Cabinet Office.

How much does Squirrel cost:

Squirrel is free to use for three months after which it's £3.99 a month. There's no hidden fees or contract so you can cancel at any time.

Is there a video I can watch that explains how Squirrel works:

Funny you should ask!

So that's my quick review of the Squirrel budgeting app, do let me know if you're using it and if it's helped you.

About the Author


Author & Editor

Anthony is a SEO, Social Media and Money Saving Blogger | Business Development Manager | Husband | Father to a noisy toddler | Optimistic | Boundless Enthusiasm | Fortunate!

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