How Much Does a Money Saving App Actually Cost to Build?

Building a money saving app is one of those things where everyone thinks they know what it'll cost—until they actually start getting quotes from developers. I've had clients come to me saying they want "something like Monzo but for savings" with a budget of £15,000, and honestly? That's a bit like saying you want to build a house but you've only budgeted for a garden shed. The gap between expectation and reality in savings app development cost is massive, and it catches people out every single time.

The truth is, there's no simple answer to what a money saving app costs because the range is enormous. A basic savings tracker that lets users manually log their spending and set simple goals? You're looking at somewhere between £25,000 and £45,000 for a properly built app on one platform. But if you want automatic bank synchronisation, intelligent spending analysis, or any kind of predictive features, you're suddenly in the £80,000 to £150,000+ territory. And that's before we even talk about the security requirements that financial apps need—which, spoiler alert, add a substantial chunk to your budget.

The biggest mistake I see is people focusing purely on features without understanding that financial apps have regulatory and security obligations that triple the complexity of everything you build.

Over the years I've built savings trackers for startups with bootstrapped budgets and full financial management platforms for established brands, and what I've learned is that the real cost drivers aren't always obvious. Sure, features matter. But the hidden expenses—data encryption, compliance testing, financial institution integrations, ongoing security updates—these are what separate a £30,000 project from a £120,000 one. Let's break down exactly what you're paying for when you build a money saving app, because understanding these costs upfront will save you from some very uncomfortable conversations with your development team halfway through the project.

Understanding the Different Types of Money Saving Apps

When people come to us wanting to build a "money saving app," they usually don't realise theres about six completely different categories they could be talking about. And honestly? The type you choose makes a massive difference to your budget—we're talking anywhere from £15,000 for a basic tracker to well over £200,000 for a comprehensive financial platform. I've built apps across all these categories, and the feature requirements are worlds apart.

The simplest type is what I call passive savings apps. These connect to your bank account and automatically round up purchases to the nearest pound, moving the difference into savings. Think apps like Moneybox or Plum. They need bank API integration (which isn't cheap) and some basic automation logic, but the core functionality is actually quite straightforward. Then you've got budgeting and expense trackers—apps that categorise your spending and help you stick to budgets. These need more complex data processing because they're analysing transaction patterns and generating insights. I worked on one for a fintech startup that had to process thousands of transactions per user per month; the backend infrastructure alone was a significant cost.

Cashback and rewards apps are a different beast entirely. They require merchant partnerships, offer management systems, and often complex referral mechanics. The development isn't necessarily harder, but the business relationships and ongoing maintenance make them more expensive to run. Deal aggregators that find discounts and coupons need web scraping technology or API integrations with multiple retailers—its a maintenance nightmare because retailer websites change constantly. Investment-focused savings apps combine savings features with stock market access, which means you're dealing with similar regulatory complexities as cryptocurrency apps and real-time market data feeds. These are properly expensive to build and maintain because of the legal requirements alone.

Common Money Saving App Categories

• Passive round-up savings apps (automatic micro-savings from purchases)
• Budget tracking and expense management tools
• Cashback and rewards platforms with merchant integrations
• Coupon and deal aggregators with retailer connections
• Investment-linked savings apps with market access
• Goal-based savings apps with visual progress tracking
• Bill negotiation services that automate price reductions

Bill negotiation apps are relatively new—they analyse your recurring bills and either give you recommendations or actually negotiate on your behalf. These need sophisticated recommendation systems to identify savings opportunities and sometimes human customer service teams as backup. Goal-based savings apps focus on helping users save for specific things like holidays or house deposits; they're essentially budgeting apps with better psychology built in. The costs vary depending on whether you want gamification features on a budget, social sharing, or AI-powered suggestions. What matters most is being clear about which category fits your business model because trying to be everything to everyone is how you end up with a bloated budget and an app that does nothing particularly well.

Core Features That Affect Your Development Budget

When you're building a money saving app, its the features you choose that'll make or break your budget. I've seen clients come in with a list of "must-haves" that would cost £150,000 to build, when really they only needed about £40,000 worth of functionality to launch. The trick is understanding which features actually move the needle for your users and which ones are just nice to have.

User authentication is your first major cost driver—and its non-negotiable for any financial app. Basic email and password setup might cost £2,000-3,000, but if you want biometric login (fingerprint or Face ID) and two-factor authentication, you're looking at £5,000-8,000. I always recommend starting with the secure option because rebuilding authentication later is bloody expensive and risky when you've got live user data.

The savings tracking mechanism itself varies wildly in complexity. A simple manual entry system where users type in what they've saved costs around £3,000-5,000 to build properly. But if you want automatic bank account integration? That jumps to £15,000-25,000 because you're dealing with Open Banking APIs, constant data syncing, and loads of error handling for when banks change their systems (which they do, constantly). One fintech client learned this the hard way when their banking integration broke three months post-launch and needed £8,000 worth of fixes.

Budget Allocation for Key Features

Goal-setting features sit somewhere in the middle complexity-wise. A basic version where users set a target amount and date costs about £4,000-6,000, but adding smart suggestions based on spending patterns, milestone celebrations, or automated transfers when goals are reached can push that to £8,000-12,000. The question I always ask clients is whether their users will actually engage with the fancy stuff or if they just want something simple that works.

Push notifications seem simple but they're not. Basic reminders cost £2,500-4,000, but personalised notifications based on user behaviour, spending triggers, or location-based prompts need proper backend logic and can run £6,000-9,000. And here's something most people don't realise—you need to design these carefully because annoying notifications are the fastest way to get your app deleted.

Data visualisation is where I see the biggest scope creep. Charts showing savings progress might cost £3,000-5,000 for standard implementations, but custom interactive dashboards with spending breakdowns, trend analysis, and comparison tools can easily hit £10,000-15,000. One e-commerce client wanted Netflix-level data viz for their savings features and we had to have a frank conversation about whether users would actually use it enough to justify the cost.

Start with manual tracking and basic goals for your MVP. You can always add bank integration later once you've validated that users actually want your app—I've seen too many projects spend £20,000 on auto-sync features that nobody ends up using because the core value proposition wasn't right.

Simple Savings Trackers vs Full Financial Management Apps

The difference between a simple savings tracker and a full financial management app isn't just about features—its about complexity, cost, and honestly, how much of a headache you're willing to take on. I've built both types over the years and the cost difference can be anywhere from £15,000 for a basic tracker to well over £120,000 for a comprehensive financial platform. That's not hyperbole; the scope really does change that dramatically.

A simple savings tracker does one thing well—it helps people watch their money grow towards a goal. You're talking about manual entry of deposits, maybe some goal setting, progress visualisations and push notifications when milestones are hit. These apps don't connect to bank accounts, they don't categorise transactions automatically, and they certainly don't try to give you investment advice. I worked on one for a client in the education sector that let students track their savings for university; it took about 3 months to build and cost around £22,000. Clean, focused, effective.

Full financial management apps? They're a different beast entirely. We're talking about Open Banking integrations (which require extensive security protocols and compliance checks), automatic transaction categorisation using machine learning, bill tracking, spending analytics, budget forecasting, and often investment portfolio tracking. One fintech project I handled required integration with 12 different banking APIs, real-time transaction syncing, and had to pass rigorous financial conduct audits. The development stretched to 9 months and the budget was closer to £140,000—and that was before ongoing maintenance costs.

Cost Breakdown by App Type

The thing is, you need to match your app type to your actual business model and user needs. I've seen clients get starry-eyed about building "the next Monzo" when what their users actually want is something dead simple that helps them save £20 a week for holidays. Starting with a simple tracker and validating demand before building out complex features isn't taking shortcuts—it's being smart about resource allocation and proving your concept works before you sink six figures into development.

iOS, Android, or Both? Platform Decisions That Impact Cost

This is probably the question I get asked most when someone wants to build a savings app, and honestly it drives the budget more than almost anything else. Building for both platforms from day one can double your development costs—we're talking £30,000 to £60,000 instead of £15,000 to £30,000 for a single platform. That's a big jump, right?

Here's the thing though; the decision isn't just about money. I've worked on fintech projects where we launched iOS first because the data showed us that users with higher disposable income (the ones most likely to use a savings app) were predominantly on iPhones. Made sense for that particular client. But then I've also built Android-first savings apps for markets where Android has 80% market share. You need to know where your users actually are before making this call.

The platform you choose should be dictated by where your target users spend their time, not which one you personally prefer

Cross-platform frameworks like React Native or Flutter can save you maybe 30-40% compared to building native apps for both platforms. I use them quite a bit actually. But—and this is important—they come with trade-offs. For a savings app that needs to integrate with banking APIs, handle sensitive financial data, and perform complex calculations, native development sometimes gives you better performance and more control. Its not always the cheaper option that wins in the long run; maintenance costs and user experience matter too. If your app crashes when someone's trying to check their savings balance? That trust is gone instantly.

The Real Cost of Security and Financial Data Protection

When you're building an app that handles peoples money (or even just shows them their bank balances), security isn't optional—its the foundation everything else sits on. And bloody hell, it's expensive. I mean, we're talking about an additional £15,000 to £50,000 just for proper security implementation, depending on how much financial data you're actually storing and processing. That's before you even get into ongoing compliance costs.

Here's the thing most people don't realise when they first come to us with a money saving app idea; there's a massive difference between building a simple budget tracker that stores data locally on someone's phone versus an app that connects directly to their bank accounts through Open Banking APIs. That second option? You're looking at PCI DSS compliance requirements, regular security audits, penetration testing every six months minimum, and a whole load of encryption standards that need implementing correctly. We built a savings app that connected to multiple UK banks and the security requirements alone added four months to the development timeline—not because we were being slow, but because you genuinely cannot rush security testing when peoples financial data is involved.

What You're Actually Paying For

Security costs break down into several categories that people often forget to budget for. Sure, everyone knows you need encryption, but what about the infrastructure to support it? The ongoing monitoring systems? The compliance certifications?

• End-to-end encryption implementation (both data in transit and at rest) adds £8,000-£15,000 to your build cost
• Secure authentication systems with biometric login, two-factor authentication, and session management typically cost £5,000-£12,000
• Third-party security audits and penetration testing run £3,000-£8,000 per audit, and you'll need at least two during development
• Compliance documentation and legal review for GDPR, FCA regulations (if you're handling actual transactions), and data protection policies cost £4,000-£10,000
• Secure cloud infrastructure with proper firewalls, intrusion detection, and regular backups adds £200-£800 monthly to your hosting costs
• Security monitoring tools and content protection systems cost £100-£500 per month depending on your user base

The Ongoing Reality of Financial App Security

One thing that catches people off guard is that security isn't a one-time cost. We had a client who built a decent savings tracker and thought they were done once it launched—then they got their first security audit report back with 12 high-priority vulnerabilities that needed addressing immediately. That's just how it works with financial apps; the threat landscape changes constantly and you need to stay on top of it. Annual security audits and compliance updates cost £5,000-£15,000 depending on your apps complexity, and if you're handling bank connections through Open Banking you'll need these regularly to maintain your compliance status. Its not fun paying for them, but its absolutely necessary if you want to keep operating... and more importantly, if you want to keep your users trust intact.

Design Costs for Building Trust in Financial Apps

Here's something most people don't realise about fintech apps—design isn't just about making things look pretty, its about making people trust you with their money. And that's a completely different challenge to designing, say, a social media app or a game. When I'm working on a savings app with a client, I usually allocate between £8,000-£25,000 just for design work, and that might sound steep but there's good reason for it.

The psychology of financial app design is quite specific. People need to feel secure the moment they open your app; they need to understand where their money is going without having to think too hard about it. I've worked on apps where we spent weeks just perfecting the dashboard layout because if users can't immediately see their savings progress and understand their financial position in under 3 seconds, they start to feel anxious. And anxious users don't stick around.

What You're Actually Paying For

The design budget for a savings app typically covers user research (understanding how your target audience thinks about money), wireframing the entire user journey, creating high-fidelity mockups, and building an interactive prototype. But honestly? The most valuable part is the user testing phase where real people interact with your designs before any code gets written. I've seen clients save tens of thousands in development costs by catching usability issues during this stage—like confusing navigation or unclear call-to-action buttons that would've required expensive rebuilds later.

You'll also need to factor in brand identity work if you haven't got that sorted already. Financial apps need logos, colour schemes that convey trust (blues and greens perform well here, reds tend to trigger stress responses), typography that's readable at small sizes, and icon sets that are immediately recognisable. The whole visual language needs to say "professional and secure" without feeling cold or intimidating.

Mobile-Specific Design Considerations

One thing that drives up design costs in savings apps is the sheer number of screens you need to design for different scenarios. You've got your main dashboard, multiple onboarding screens (which are critical for financial apps—studies show that fintech apps with structured onboarding have 40% better retention), transaction lists, goal-setting interfaces, notification designs, error states, empty states, and confirmation screens. Each one needs to be designed for different device sizes too; what works on an iPhone 14 Pro Max won't necessarily work on an iPhone SE.

I always push clients to invest in designing micro-interactions and transitions as well. When someone completes a savings goal, that moment needs to feel rewarding—a simple animation or celebratory screen can create genuine emotional connection with your app. These little touches cost extra in design time but they massively impact how users feel about your product.

Don't skip the accessibility audit during design. Financial apps have legal obligations under equality regulations, and designing for accessibility from the start (proper colour contrast, screen reader support, larger touch targets) costs far less than retrofitting it later. Budget at least £2,000-£3,000 for accessibility considerations.

The other cost factor that surprises people is designing for different user states. A new user who's just signed up sees different content than someone who's been saving for three months. Your app needs to adapt its interface based on user behaviour and progress, which means more design work upfront. I've built apps where we had to design 15+ variations of the home screen alone to accommodate different user scenarios.

If you're working with a design agency, expect to pay £80-£150 per hour for senior designers who understand fintech. Junior designers might be cheaper but they lack the experience to spot the subtle issues that make financial apps feel trustworthy. Its worth paying for someone who's done this before because they'll know things like: never use animation on numbers that represent money (it makes people think the values are changing), always show currency symbols, and make sure delete actions require confirmation screens.

Timeline and Development Phases for Savings Apps

I've built enough savings apps now to know that timeline estimates are where most people get caught out—clients always want it done faster than its actually possible, and developers always add "buffer time" that somehow never ends up being enough. But here's the thing, financial apps take longer than your average mobile app because of compliance requirements, security audits, and the simple fact that you cannot launch a money management tool that crashes or miscalculates balances. The consequences are just too serious.

A basic savings tracker with manual entry and simple goal tracking? You're looking at 10-14 weeks from kickoff to App Store submission. That breaks down roughly into discovery and planning (2 weeks), UI/UX design (2-3 weeks), core development (5-6 weeks), testing and bug fixes (2 weeks), and security audit plus compliance review (1 week minimum). And before you ask—no, those phases don't always run sequentially; we usually overlap design and development to save time, but testing absolutely cannot be rushed.

Once you add bank integration through Open Banking APIs, that timeline extends to 16-20 weeks. Why? Because third-party API integration is unpredictable—documentation is often incomplete, sandbox environments behave differently than production, and you'll inevitably hit edge cases that require back-and-forth with the API provider. I've had projects where a single banking integration took three weeks longer than planned because one bank's API returned transactions in a different format than their docs specified.

Development Phase Breakdown

The phases typically look like this, though I'll be honest—they rarely go exactly to plan. Banks change their APIs, clients realise they need additional features mid-development, or security audits uncover issues that need reworking. That's just the reality of building financial software. Implementing proper DevOps methodologies can help streamline these phases but adds its own cost considerations.

• Discovery and requirements (1-2 weeks): defining exactly what the app needs to do, which APIs you'll use, and mapping user flows
• Design and prototyping (2-4 weeks): wireframes, visual design, and interactive prototypes for user testing
• Core development (6-10 weeks): building out features, integrating APIs, implementing security measures
• Testing and QA (2-3 weeks): functional testing, security testing, device compatibility checks
• Compliance review (1-2 weeks): ensuring GDPR compliance, data protection measures, terms of service
• App Store submission (1 week): preparing store listings, screenshots, and handling review process

What Actually Causes Delays

In my experience, the biggest timeline killers are third-party dependencies (banking APIs, payment processors), scope changes mid-project, and security requirements that weren't fully scoped upfront. I built a budgeting app once where the client decided halfway through development that they wanted cryptocurrency tracking too—that added six weeks because we had to integrate entirely new data sources and handle the volatility calculations differently than traditional currencies.

App Store review for financial apps can also be unpredictable; Apple scrutinises money-related apps more carefully, and I've had apps rejected for minor issues in how we displayed interest calculations or stored financial data. Each rejection and resubmission adds roughly a week to your timeline, so its worth getting everything right the first time.

Conclusion

Building a money saving app isn't cheap—there's no getting around that fact. I've watched clients come in with £10,000 budgets expecting something that realistically costs £50,000 to build properly, and it never ends well. The truth is a basic savings tracker with simple goal-setting and transaction logging will set you back around £15,000-£25,000 if you want something that actually works and doesn't crash every other day. But if you're looking at real-time bank integration, automated savings rules, and the kind of security that keeps financial regulators happy? You're looking at £40,000-£80,000 minimum, sometimes more if your requirements are complex.

Here's what I tell everyone who sits down with me to discuss their savings app idea: your budget needs to match your ambition. I've built plenty of MVPs that started small and grew over time—actually, that's often the smartest approach. Launch with manual transaction entry and solid goal tracking, get users actually using it, then add bank connectivity later when you've validated the concept and secured more funding. Its worked brilliantly for several fintech clients I've worked with over the years.

The other thing? Don't skimp on security and design. I mean it. Financial apps need to feel trustworthy from the moment someone opens them, and if your app looks dodgy or handles their data carelessly, they'll delete it faster than you can say "user retention". Factor in at least 20-25% of your total budget for security implementation and compliance work—yes, it seems like a lot, but one data breach will cost you far more than that in reputation damage alone. And remember, building the app is just the beginning; you'll need ongoing maintenance, server costs, and regular updates to keep everything running smoothly. Budget for the long term, not just the launch.