Zurich updates budget calculator mobile app

Insurer Zurich UK has updated  its ‘Budget Calculator' mobile app aimed at helping people keep better track of their day-to-day spending habits and identify where they might be able to make savings.

The new features on the app make it quick and easy for users to categorise expenses and set budgets under nine common expense categories, and to track progress against budget.

They include a colour-coded budget-tracking option for easy reference- red if budget is reached or exceeded, green when on track and amber if about to go over the budget - and an option to set savings goals at the outset and track progress regularly.

The app is available free of charge for i-phones and Android smart phones, and can also be downloaded from Google Play or the App store.

Expenses can be categorised under nine common household expenses:

1. Food and drink
2. Clothing and footwear
3. Transport and fuel
4. Household items
5. Phone, TV and internet
6. Holiday, recreation and leisure
7. Health and education
8. Savings
9. Other

Dave Hodges, Client Relations and Servicing Director of Zurich's Corporate Savings business says:  "As household budgets continue to be squeezed, and more and more people feel  the pinch, our budgeting app encourages people to think about their long term financial future and consider how, by making small savings on household spending, they may be able to contribute more to their pension and enjoy the lifestyle they want in retirement."

The budget planning tool  is the latest in a series of initiatives launched by Zurich, aimed at encouraging more people to save money to help them  increasing awareness of individuals to save more to live comfortably in  their retirement.