The 5 killer money-management app that every teenager needs



A big fan among millennials who have just recently entered the workforce, Monzo markets itself as “a bank for everyone”. Essentially, the company offers a (bright pink) debt card that links to its native mobile app.

The idea is that you debit cash from your "traditional" bank account to your Monzo account and then monitor your spending via the app. Users can set themselves monthly spending targets and receive notifications when their spending becomes too frequent.

Starling Bank: 

Starling is a lot like Monzo: there’s a snazzy app, a host of features that enable you to manage your money better and its loved by young people.

The main difference between Starling and Monzo is probably that Starling has cleared major milestones quicker than its rival. For example, it was first to get a banking licence and boasts more integrations with third party payment processors.

All in all, though, we reckon it’s pretty neck-and-neck between the two.


Moneybox encourages teenagers to invest without them even knowing it.

Users connect a debit card to the app and every time they spend money on that card, their purchases are rounded to the nearest pound and the difference is invested in low-risk funds. In other words, if you buy a coffee for £1.80, 20p will be invested straight away.

Since Moneybox only invests in index funds, so you can be sure spare change is being put to work sensibly. Moneybox costs £1 a month and there is a flat platform fee of 0.45% on top of the 0.2% typically charged by the funds.


Chip enables you to save money without even trying. The app’s artificial intelligence software scans your account usage, assesses your outgoings, and automatically sends how much it thinks you should save to a designates savings account.

It’s basically saving for people who lack the discipline. The app works with most leading UK banks and if you’re worried about your data security, don’t be; Chip protects your bank details with a 256-bit encryption - the same type that your own bank uses.

Google Sheets: 

Okay, so this isn’t really a snazzy new app that’s taking the finance world by storm. But that doesn’t mean Google Sheets isn’t one of the best ways to monitor your saving!

If you don’t feel like entrusting your bank details to a third party, you can always automate a budgeting plan on Sheets and manually move money yourself. And, since Sheets uses the same shortcuts as Excel, your teenager can sharpen their spreadsheet skills at the same time.


PS: if you’d like us to make a video explaining how to set up a budget in Google Sheets, email me at (I actually reply).