Saving is a skill. You have to build up your savings account and make it work for you. But how do you do that? Saving money is much easier said than done, especially when you’re living paycheck to paycheck. It’s tough to save when you barely have anything coming in- but these automatic saving apps will help make saving money a little easier on you.
My favorite Money Saving Apps
There is a lot of great money saving apps out there, but my favorite is Acorns. Acorns are an app that allows you to invest your spare change. Every time you make a purchase, the app rounds up the total to the nearest dollar and invest the difference into a portfolio of your choice. Over time, this can really add up!
Another great money saving app is Digit. Digit is an app that analyzes your spending habits and automatically transfers money into a savings account for you. You can set goals and track your progress over time. This is a great way to save money without even thinking about it!
Finally, Qapital is another great app for automating your savings. With Qapital, you can set up rules to automatically transfer money into your savings account. For example, you could set up a rule to transfer $5 into your savings account every time you go over your budget for the month. This is a great way to make sure you always have some money saved up!
Top 7 Automatic Saving Apps
1. Acorns:
This app rounds up your spare change and invests it in a portfolio of ETFs.
2. Digit:
This app analyzes your spending patterns and withdraws small amounts of money from your checking account that you can afford to save.
3. Qapital:
This app allows you to set up rules-based savings goals. For example, you can automatically transfer $5 to your savings account every time you make a purchase with your debit card.
4. Simple:
This app offers a feature called Safe-to-Spend™ that shows you how much money you have available to spend after bills and savings goals are taken into account.
5. Wealthfront:
This robo-advisor offers a free service for automated investing and saving.
6. Betterment:
This robo-advisor also offers a free service for automated investing and saving.
7. Personal Capital:
This app tracks your net worth, investment portfolio, and spending patterns. It also has a retirement planner tool that can help you save for the future.
How to Save More Money with These Apps?
There are a few simple steps you can take to make sure you’re getting the most out of your money saving apps.
First, set a budget for yourself. Decide how much money you want to save each month, and then track your progress. This will help you stay on track and reach your goals.
Second, take advantage of features like automatic transfers and round-ups. Many money saving apps offer these features, which can help you boost your savings without any extra effort.
Third, consider using multiple apps. This can help you diversify your savings and maximize your chances of reaching your goals.
Finally, don’t forget to withdraw your savings when you reach your goal. This will give you a nice financial cushion in case of unexpected expenses.
By following these simple tips, you can make the most of money saving apps and reach your financial goals.
How These Apps Work
There are a few different ways that automatic saving apps can help you save money.
First, some apps will round up your purchases to the nearest dollar and save the difference. For example, if you spend $3.50 on coffee, the app will round up to $4.00 and save the extra $0.50. Over time, these small savings can add up.
Another way that these apps can help you save money is by helping you set aside money each week or month into a savings account. You can choose how much you want to save, and the app will automatically transfer that money into your savings account. This is a great way to make sure you are consistently saving money each month.
Finally, some of these apps also offer cash back rewards when you shop at certain stores through the app. For example, you might get 5% cash back on all of your purchases at a grocery store. This can be a great way to earn some extra money while you are doing your normal shopping.
Overall, automatic saving apps can be a great way to help you save money. There are a few different ways they can do this, such as rounding up your purchases or transferring money into a savings
Conclusion
There you have it — the top three automatic saving apps that can help you save money without even thinking about it. All of these apps are free to download and use, so there’s no excuse not to give them a try. If you’re looking for an easy way to save money, one (or all) of these apps could be a great option for you. Give them a try and see how much you could save!
