Young Ukrainian saved 700,000 hryvnias in 3 years: a simple way.

According to The Sun: 27-year-old political consultant Jordan Leet from London used to live in tight financial conditions, having only £20 left at the end of the month. However, thanks to a simple financial app, he managed to save an impressive £16,800.

Three years ago, Jordan started using the Plum app, which helps him save money without even thinking about it.

Plum connects to your bank account and automatically determines how much you can save. There are also 'saving rules' that suggest setting aside money in certain situations, for example, when it rains or when you shop at your favorite store.

In classic mode, Plum offers an interest rate of 3.53%, but by subscribing to Plum Max, it can increase to 4.17%. Withdrawals do not incur penalties, and savings are protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).

Jordan started using Plum after a conversation with a friend in 2022. Over three years, he managed to accumulate £16,800 thanks to various automated features.

“Saving used to be a real challenge for me, as I didn't know how much to set aside at the beginning of the month,” said Jordan.

“Plum does all the work for you, which is incredibly convenient since you don't even think about saving.”

Features that helped accumulate money

Round Ups

Jordan uses the Round Ups feature, which allowed him to save £1,539. This feature rounds up every purchase to the nearest pound and sets aside the difference.

“It saves a lot of money that you don't even realize,” says Jordan.

Auto-saving

Automatic saving helped Jordan accumulate £9,500. The app uses artificial intelligence to determine how much can be saved each week, taking expenses into account.

Weekly Contribution

Every week, Jordan sets aside £38, resulting in him accumulating £5,800.

Rainy Days

The 'rainy days' feature allows him to automatically set aside £2 every time it rains in his area, adding up to £26.

Fun Rule

This rule sets aside a certain amount every time Jordan spends money at his favorite store. He currently chose McDonald’s, although he hasn't visited it since setting up the rule.

Conclusions

Jordan has already invested £3,500, £10,300 in a Cash ISA, and £1,500 in his Plum savings. His annual salary ranges from £42,000 to £48,000.

“I wouldn’t say I'm stingy, but I don’t lead a lavish lifestyle,” he notes.

Thanks to his savings, Jordan feels more confident and has a cushion for emergencies. He emphasizes the importance of saving for his future.

Jordan's success demonstrates how modern financial technologies can help people plan their spending and significantly improve their financial situation. Using similar apps can be beneficial for many who aim to save and invest money more efficiently.