Want Better Saving Habits? Check your Stoa Saving Score for free in just 3 simple steps and take control of your financial future today.

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Let us face it, we can all agree that savings are so boring. We at Stoa are on a mission to make savings fun. We all know games are fun. So we wanted to find a way to gamify tracking our savings. 

Just like a speedometer on your car’s dashboard, which tells you how fast or slow you are driving. Stoa’s Saving Score allows you to keep a track of your savings. For now, checking your Saving Score is free to do. 

The current version of the Stoa Saving Score is calculated by our smart system which monitors both the incoming and outgoing transactions from your main salary bank account. 

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Stoa has built a proprietary algorithm for calculating the Saving Score. It tracks three pillars across: 

Pillar 1: Income Retention

Pillar 2: Savings Allocation

and 

Pillar 3: Saving Regularity  
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Important to note: 

• Stoa Saving Score is not tracking your wealth. Our algorithm is simply guiding you to monitor your savings habit. 

• Checking your Saving Score with Stoa does not leave a print on your credit rating. 

• Stoa’s Saving Score is not linked to your Credit Score. 

• All your transactional data is completely anonymised and used only for calculating your saving score and providing any useful offers and insights.
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The Stoa Saving Score will help you monitor your savings journey and also make savings more of a habit. 

For now you can track your Saving Score for just one bank at a time. Which is why we recommend you check your Saving Score with your salary account. But in the future, you will be able to add multiple bank and saving accounts to your Stoa Saving Score calculator to get a much more accurate score. 

We at Stoa are on a mission to help Britain save better. You can't save better without knowing where you are at with your saving habit. Stoa’s saving score helps you do just that, it helps you track your saving score. Stoa Saving Score is an enabler to get you started and to keep you motivated throughout your journey. 

Stoa's Saving Score is not like a credit score, it does not affect your credit rating. Unlike a credit score, Stoa's saving score is meant to be fun and shareable. We want to remove the stigma around savings.

The Stoa Saving Score is from 100 to 999. Checking your Saving Score is a great start. 

Don’t worry if you don’t get a high score. We all have to start somewhere. I am happy to share my score is improving slightly here is my score 618 that I checked today 21st of November 2024. 

I still need to get better at saving. 

As a society we are so obsessed with spending that we rarely think about savings and we at Stoa are going to change that. 

Our Stoa Saving Score is one of the many features we are releasing. 

Checking your free Stoa Saving Score takes less than 2 minutes. Once you get your score, please share it with your family and friends so they can monitor your progress. Also, you can get them to share their score with you. 

Saving is more fun if done together with family and friends. As a society we are so secretive about money. However, Stoa’s Saving Score allows you to share your score (which does not tell how much balance you have in your account or how wealthy you are), it is more of an indicator of how good is your saving habit. This we hope will allow a lot more people to start looking at savings as a positive action and something they should do more often. 

You could be saving for different reasons. It could be saving to buy your first home, for a rainy day (something unexpected that you might have to spend on), a big or small goal (this could be a wedding, a holiday, a new car, a new kitchen, or a gift) or you are planning ahead and saving for your retirement. 

Amidst a cost of living crisis it is even more important to make sure we are focused on our savings and track them regularly. 

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Pro Tips: 

• We recommend that you check your Stoa Saving Score once a month. So you can track the progress of your score consistently. 
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• Try be regular with your habit of putting some money away in savings or investing. Do it monthly if possible. Even if it is a small amount. 
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• Once you get your salary try to save more than you spend. Maybe cut down on some lifestyle non-essential spending such as, multiple takeaways a week or number of trips to the pub every month, or the third pair of jeans which you might not need, even if they are giving you a juicy offer. 

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We are still developing use cases for our Saving Saving. Some useful and interesting use cases of the Stoa Saving Score could be:

• Merchant offers across groceries, bills, petrol and others. 
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• For property rental if you don't have a credit score, estate agents or landlords could use your saving score to give you short term rentals
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• Getting a better interest when you try to get a loan
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• Brag rights with friends
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• Use it whilst you are dating as a fun game to see if the other person has a higher saving score than you 

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It is still early days for Stoa to help build a complete ecosystem around helping customers save better. But this is the first big step in the right direction.

We are excited to be working with Yapily who are providing the important open banking API connection, this allows us to operate our Stoa Saving Score across 70+ banks in the UK. 

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Check your Stoa Saving Score is 3 easy steps:

Step 1: Register

‍Step 2: Connect your Bank

‍Step 3: Share

Check your saving score. Feel free to drop Mike and Sam the CoFounders of Stoa a line. We would love to hear from you to get your feedback as we continue to make the saving score really useful in our daily lives.

mike@stoa.money or sam@stoa.money

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Written by: Mike Saraswat
Date: 1st December 2024