Moneyhub Is Shutting Down – 5 Best Alternatives for Managing Your Finances

Introduction

Moneyhub, one of the most popular personal finance management apps, is shutting down its direct-to-consumer (D2C) service to new users. While existing users will still receive support, the company has confirmed a gradual wind-down process, allowing them to complete their contracted 12-month term. Additionally, Moneyhub is offering at least six extra months free of charge to help users transition smoothly.

With this closure, many are now searching for the best Moneyhub alternatives to manage their budgeting, spending, and financial tracking. To help you make an informed decision, we’ve compiled a list of five top-rated money management apps that offer similar—and in some cases, even better—features.

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1. Lumio: Money Management for Couples

Overview

Lumio is the leading money management app designed specifically for couples. It provides both a Private Space for personal finances and a Shared Space for joint financial management. This makes it ideal for couples who want to maintain financial independence while effectively handling shared expenses.

Key Features

• Private and Shared Spaces: Maintain separate personal finances while collaborating on shared financial goals and expenses.
• FCA Authorisation: Operates as an agent of a fully authorised FCA firm, ensuring financial security and compliance.
• Easy Setup: Simple, free onboarding process to start managing your money.
• Comprehensive Account Connections: Supports over 150+ account types, including banks, savings, credit cards, and investment accounts.
• Bill and Subscription Management: Automatically categorises bills and subscriptions, allowing shared bills to be split with notifications for upcoming payments.
• Automated Transaction Categorisation: Faster and more streamlined transaction sharing compared to apps like Splitwise.
• Net Worth Tracking: Real-time tracking of individual and combined net worth.
• I Owe You Tracker: Keeps track of shared expenses between partners.

Pricing

• Individual Pro: £3 per month or £26.99 annually.
• Couples Pro: £4.50 per month or £39.99 annually.

Ideal For

Couples who are moving in together, saving for a wedding, getting married, or simply sharing expenses. Lumio offers an ideal solution for partners looking to manage their finances collaboratively and effectively.

For more information, visit the Lumio website.

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2. Emma

Overview

Emma is a comprehensive personal finance app that helps users track their spending, manage subscriptions, and save money. It offers a holistic view of financial health, making it easier to make informed financial decisions.

Key Features

• Spending Tracker: Categorises expenses and provides insights into spending habits.
• Subscription Management: Identifies active subscriptions and helps avoid unnecessary charges.
• Bank Connections: Supports multiple account integrations for seamless financial tracking.
• Savings Goals: Enables users to set and monitor savings objectives.

Pricing

• Free Version: Basic features available at no cost.
• Emma Pro: £4.99 per month or £41.99 annually for advanced features like custom categories and data export.

Ideal For

Individuals looking for a user-friendly, all-in-one solution for tracking spending and managing subscriptions.

For more information, visit the Emma website.

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3. YNAB (You Need a Budget)

Overview

YNAB is a budgeting app that emphasises forward-looking financial planning rather than past spending analysis. It helps users manage their money, reduce debt, and allocate funds effectively.

Key Features

• Prospective Budgeting: Adjusts budgets in real-time based on available balances.
• No Need for Historical Data: Focuses on current and future financial goals.
• Investment Tracking: Projects potential investment returns.
• Educational Resources: Offers guides on budgeting, saving, and debt reduction.

Pricing

• Free Trial: 34-day free trial available.
• Subscription: $14.99 per month or $99 annually.

Ideal For

Users who prefer a proactive, hands-on budgeting approach and want a tool that emphasises financial discipline.

For more information, visit the YNAB website.

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4. Snoop

Overview

Snoop is a smart money management app that analyses spending habits and provides personalised financial insights to help users save money.

Key Features

• Spending Insights: Identifies spending patterns and provides personalised tips.
• Savings Opportunities: Highlights potential cost-cutting options on bills and subscriptions.
• Account Connectivity: Links various financial accounts for a consolidated financial overview.
• Regular Updates: Keeps users informed with alerts and financial updates.

Pricing

• Free: Basic version with core features.
• Snoop Plus: £3.99 per month or £35.99 annually for advanced insights and features.

Ideal For

Individuals who want proactive financial insights and money-saving recommendations.

For more information, visit the Snoop website.

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5. Cheddar

Overview

Cheddar is a modern money management app that helps users keep track of spending, split expenses, and make payments seamlessly. It integrates real-time payment solutions with expense tracking, offering a streamlined financial management experience.

Key Features

• Instant Bank Payments: Cheddar supports open banking for fast and secure transactions, allowing users to make payments directly from their bank accounts.
• Expense Splitting: Simplifies cost-sharing among friends, family, or housemates. Users can create shared expenses and split payments effortlessly.
• Real-Time Payment Tracking: Provides instant notifications for all transactions, ensuring transparency and accuracy.
• Subscription and Bill Management: Automatically categorises recurring payments and alerts users about upcoming charges.
• No Monthly Fees: Unlike some money management apps, Cheddar does not charge a monthly subscription fee, making it an affordable choice.

Pricing

• Free: No monthly fees for core financial management features.
• Transaction-Based Fees: Some services may have small transaction-based costs.

Ideal For

Users who need a simple, fee-free solution for expense tracking, bill management, and instant payments.

For more information, visit the Cheddar website.

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Conclusion

With Moneyhub winding down its services, users need a reliable alternative for financial management. Whether you’re a couple managing shared expenses (Lumio), an individual looking for budget tracking (Emma), someone keen on proactive financial planning (YNAB), a saver seeking smart money insights (Snoop), or someone who prefers real-time transactions and bill splitting (Cheddar), there are plenty of excellent options to suit different financial needs.

Each of these apps offers unique advantages, so choosing the right one depends on your personal financial priorities. As Moneyhub phases out, now is the perfect time to explore these alternatives and find the best fit for your money management style.