The societal shift from using notes and coins to digital money transfers means that overspending is now easier than ever. Thankfully, technology can help us with this stumbling block it has created.
There are now a wealth of free money saving apps that monitor your spending habits and automatically save small amounts at regular intervals that ultimately add up to a significant chunk.
If you're chronically bad at saving money, this one's for you.
With an easy and fun interface, Chip keeps an eye on your bank account and saves amounts it thinks you can afford based on your income and outgoings. This money can be accessed whenever you want it.
If you tell it to, it will even save money while you are in your overdraft, helping you to eventually save enough to pay it off.
The app currently works for users with existing Barclays, HSBC, Santander, Lloyds, NatWest, Nationwide, RBS, TSB, Halifax, First Direct, Co-operative Bank and Metro Bank current accounts.
As with all financial apps, Chip is completely encrypted and safe to use - don't worry when you are prompted to give the app access to your account transactions.
Similar to Chip, but based entirely within the Facebook Messenger app, Plum analyses your spending habits and saves accordingly every week.
Users also have the option to invest their savings through Plum and earn 3 per cent interest, but - as with any investment - this does come with a certain amount of risk.
As with Chip, you can tell Plum to stop saving at any time if you need to.
More info - withplum.com
If you usually struggle to save money, an automatic saving app could be your answer (Photo: Shutterstock)
Simple, safe and secure, Yomo is an iOS-only app that automatically saves a weekly deposit that you can set yourself.
As you save, the app will reward you with small amounts of money that you can add to your savings.
You can also use the information provided within the Yomo app to learn more about making important financial decisions in the future.
Available on iOS
A similar set up to Plum, Cleo uses a chat-based interface within the Facebook Messenger app to help you reach your saving goals.
The system can tell you exactly where all your money is going, and also allows you to set a monetary goal, calculating how much you need to save in order to get there on time.
More info - meetcleo.com
This isn't a traditional saving app, but it is interesting for anyone looking to make small amounts of money go a little further.
Moneybox rounds your card purchases up to the nearest pound and invests that extra few pence into companies such as Netflix, Unilever and Disney via three tracker funds.