Bean Personal Finance Tool: It’s Free And It Will Change Your Finances

I’m a huge fan of money tools, I love things that can free up my time as my day-to-day life is too busy to have a spreadsheet for absolutely everything, thankfully I’ve come across a little beauty called Bean.

Put all thoughts of Rowan Atkinson and yellow minis aside, there is nothing calamitous about this, in fact it’s shown this particular smarty pants he doesn’t know everything about his finances after all.

To my stingy little horror, turns out I’ve needlessly thrown away sixty-nine English pounds on a subscription for the local leisure centre that I presumed I’d cancelled three months ago – conclusively proving once and for all, assumption is the mother of all feck ups!

Gym memberships and free trials are prime examples of where money can be being wasted, it’s thought that £448 million is thrown away on unused subscriptions every year, and the Bean personal finance tool will help to prevent it, better still, it’s completely bloody free – hurrah!

What is the Bean personal finance tool?

In a nutshell, it puts all your banking under one roof.

You sign up needing nothing more than an email address and then add the accounts you want to keep an eye on.

For me personally it made sense to add the ones with direct debits going out of them.

Once you’ve added your banks customer details you can see exactly what direct debits go out of your accounts and on what date.

What I was particularly impressed with was being able to see how many payments you’ve made for each subscription – making it crystal clear to see when you are within the zone to able to cancel twelve month contracts for instance.

If you have accounts across different high street banks, it makes it really easy to see exactly where you are with your finances at a glance.

Bean is only available on desktop, which, to be honest I feel more secure with, I’m not keen on doing too much of my finances on something that I carry around in my pocket with me everywhere.

To sign up for the Bean personal finance tool click here to get started.

Is Bean safe?

After getting stung by fraudsters last year I’m extra careful about any company I give my details to these days, but with Bean you can relax as your bank details aren’t stored in the tool and Bean never even sees them.

Bean have teamed up with Yodlee, who are then world’s biggest data aggregation platform and they send over read only information to Bean.

Should you ever decide to cancel your account with Bean, all your information is deleted too.

Is there any catch?

Bean is completely free to use, however in the future if they think there is a product that could save you some money they may suggest one to you, if you decided to take up that product they would be paid a fee for promoting it to you at no extra cost to yourself.

This is pretty standard with most websites these days and it’s a good way to keep Bean free.

If you don’t fancy the product, don’t take it, and you still get a great free financial tool to help you keep on track of your finances.

My thoughts

Highly impressed!

It’s so simple to set up and use – it literally took me a couple of minutes – and it’s really helpful to be able to see everything under one roof like this.

I’d also still be unaware I forgot to cancel that bloody leisure centre subscription without it too!

If you’ve got multiple direct debits, or multiple accounts it’s a no brainer.

To sign up for a free Bean account get started by clicking here.




***This post has been supported by Bean but all thoughts are my own***

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David Naylor is the editor of the Thinking Thrifty blog. An award winning personal finance and lifestyle blogger, he shows how it is possible to live extremely well for less.
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12 thoughts on “Bean Personal Finance Tool: It’s Free And It Will Change Your Finances

  1. Bean seems like a good idea. I will certainly give it a go and see what the fuss is about. As long as mr bean isnt running the tool then we should all be fine. Good article

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