Emma Pro

Eleven Reasons You Need Emma Pro

Emma Pro is the premium version of Emma. 

For a small yearly fee, you’ll have access to a whole bunch of new and exciting features. All of which have been set up to give you greater control of your finances! 

So what are these great features we speak of? 

1. Accurate Net Worth

Your net worth is a single number that can be used to determine your current financial position.

This number could be positive, or negative, and can be tracked over a person’s lifetime. Tracking net worth can be a helpful way of understanding if your finances are improving or not.

For example, if your net worth at the end of 2020 was £10K, and now it’s £12K you know your finances are heading in the right direction.

In Emma Pro, we’ll help you calculate and then track your net worth. We do this by adding up the value of your assets (savings/ investments) and then subtracting the value of your liabilities (credit cards/ loans).

You can even add assets like the value of your property, vehicles, and even personal items like art and jewelry to make the net worth calculation accurate.

Net Worth Emma Pro

2. Create Custom Categories

If you’re already an Emma user, you’ll know that whenever you spend money we’ll automatically group your spending into set categories. 

These categories include things like bills, groceries, and transport. But what if your spending doesn’t quite fit into one of these categories? That’s where Emma Pro comes in…

With Emma Pro you can create your own custom categories, letting you manage categories that make sense to you. These extra options mean you can now budget and track your spending for specific things – like takeaways, makeup, clothes, gifts… you name it. 

You can even edit the design of these categories, by choosing the colour and emoji that best describes its purpose.  

If you want to see some examples of other custom categories created, click through to our Community pages here. 

Custom Categories Emma Pro

3. Export Your Data

From time to time, you might like to see your transactional data sorted in Emma on a spreadsheet. 

With Emma Pro, you can export all your transactional data to a CSV. file which you can then use on a spreadsheet. 

If you love excel (like I do!) you can have a play with more advanced budgeting features, like future forecasting. Or, you can keep note of how your spending has changed over time. 

All you need to do is select a time frame, type in your email address and we’ll send you all the info you need! 

4. Advanced Transaction Editing

You may decide every so often that you’d like to re-categorise your transactions.

With Emma Pro, we offer advanced transaction editing so you can re-categorize multiple transactions from different merchants in one go!

Head to your recent transactions and click the pencil icon to edit, and voila your transactions will now sit under a new category.

5. Rename Transactions

Do you ever look at your transaction history and see a payment that you can’t recall what it was for? Perhaps you sent £20 to a friend for their birthday, but all you can see is £20 attributed to a long account number?

With Emma Pro, you have the ability to rename all your transactions. That £20 transaction can now be renamed to something more useful, like “Lucy Birthday” for example! 

6. Offline Accounts

This feature lets you manually create any kind of account. This is particularly useful if you have an account that isn’t supported in Emma but you still want to track.

Offline accounts behave in the same way as your other bank account, except the information is not always automatically received.

For example, within each offline account, you may have to create manual transactions to track your spending. You will also have to manually update any account balances.

Any manual transactions you create will then show up in your transaction history and spending analysis. This feature, therefore, helps you create an even more accurate picture of your spending history and habits.

To make offline accounts even better, we’ve also added the ability to link the logo to a Twitter handle. All you need to do is click “edit logo” and type in the Twitter handle of your choice!

offline accounts Emma Pro

7. Smart Rules

As mentioned in the previous point, you can manually add any accounts you like to Emma. If you have a lot of manual accounts it can be quite time-consuming to update balances and add transactions. This is where Smart Rules come in.

Smart Rules is an Emma Pro feature that lets you track movements from a linked account to an offline account.

For example, you might transfer money from a Nationwide Account to NS&I Premium Bonds every month. Smart rules would detect the payment coming out of Nationwide and know to automatically create a transaction and update the balance of your NS&I account.

Find out how to set up smart rules by clicking here.

8. Split Transactions

You may want to split a transaction if part of the transaction needs to be differentiated from the rest. For example, you purchase from a store that sells both groceries and home goods. You may want to split the transaction into two, and assign one to groceries, and one to housing.

Again, this feature allows for more accurate spending analysis – showing you truly where and how you spend your hard earned money. 

If you have a joint account linked to Emma, you can also use this feature to represent what you’ve actually spent each month.

For example, say you spend £100 at Sainsbury’s… If you use the split transaction feature you can split this so it shows as two payments of £50. Simply exclude one of the payments and it’ll look like you’ve only spent £50 that month on groceries. 

9. Double The Cashback

Cashback is a new feature in Emma that has been designed to help you save money on your shopping.

Head to More> Cashback in the Emma app to view all the brands available. Once you’ve found a brand you’d like to shop with, click on the “get cashback” button to start browsing.

If you buy something through the link in Emma, we’ll be able to track how much you’ve spent and can then offer a percentage of the cost back to you.

For example, you can currently get 4% cashback with The Body Shop. If you buy something for £50, you’ll pay £50 but will then get £2 back. This £2 is recorded in Emma, and you can then withdraw to a PayPal account.

If you’re an Emma Pro user you can actually get double the cashback rewards. This Body Shop offer would therefore give you 8% cashback.

Emma Cashback Pro

10. Turbo Updates

The free version of Emma updates around 1.5 times a day.

Emma Pro user’s accounts update more often, around 4 times a day. This means your account balances and transaction history will be as up-to-date as possible every time you open the Emma app.

11. Rolling Budgets

This feature is coming soon to Emma Pro, and we are V excited! 

Say you’ve budgeted £100 a month for eating out… Realistically, you’re not going to spend exactly the same amount of money each month when visiting restaurants. 

With rolling budgets, whatever you don’t spend in one month can be pushed into the next! So for example, if your eating out budget is £100 and you only spend £80, next month your budget will be £120! 

Summary

If you’re thinking about switching to Emma Pro, visit the “more” tab in the Emma app. Or, visit our FAQ page to find out everything you need to know.

Got any more questions? Feel free to drop us a message on Instagram, Twitter, Facebook, or start a new topic on the Emma Community!