Just about everyone wishes they could save more money, but with the cost of living rising for essentials like rent and healthcare, putting something away for the future can be a real struggle. Technology is changing our world in amazing ways every day, and personal finances haven’t been left behind! Read on to see five of our favorite apps that will help save you money.
Lauded by Entrepreneur, Digit is a lot like a digital personal financial assistant right in your pocket. After linking your spending accounts, Digit automatically analyzes your earnings and spending habits to calculate an appropriate savings amount, then moves those funds to a secure Digit account with a one percent savings bonus paid every three months. Not only will you rack up four bonus payments a year, Digit makes saving easy by making smart transfers for you that won’t end up being more than what you need to pay the bills – simple!
Max My Interest is a super cool new app that helps you collect the maximum possible interest on the money you save, helping it grow over time. Recommended by Credit Karma, The app splits your funds between many different banks across the US, monitoring each for changes in rates and shifting your funds accordingly. It’s a whole lot easier than tracking down the rates and moving the money yourself and can make a big difference to how much the banks pay you each year, depending on the size of your savings.
Magnify Money thinks Qapital might be one of the smartest ways to save for that next big purchase on the market right now. The app uses multiple rules and triggers set by the user to put away a bit of cash each time a certain event takes place, like filling up your gas tank or going out to lunch during work. There are more complex triggers too, to help keep you honest – a guilty pleasure event might automatically save five dollars when you order a pizza over the weekend, or Qapital can round up to the nearest dollar amount and save the difference on some or all of your purchases.
The College Investor recommends Acorns for those interested in investments as a part of their savings routine. The app takes stock of your income and how much risk you want in your investments, then uses the info to pick stocks that are best suited to your needs at the time. Your account is funded by Acorns rounding up each of your purchases to the nearest dollar and depositing the difference in your investment account. If you’re already comfortable with the size of your emergency fund, Acorns can be a great way to build more annual return into your savings portfolio.
If you normally tip for great service, there’s no reason you shouldn’t start using Tip Yourself to reward the person who does the most for you each day – yourself! Doubling as an app for building good habits, users can easily set up tips to be paid when you go above and beyond in your own life and deserve a little extra reward. The suggestion comes from Credit Karma, and while the deposit account doesn’t earn interest, Tip Yourself is one of our favorite ways to save up for a night on the town that you won’t feel guilty about with the added benefit of helping you reach both financial and other types of goals in your personal life.
No matter what your goals are, saving money is one of the most important things we can do to improve our daily lives and build the foundation for a brighter tomorrow. These apps are leading the way in helping make it easier than ever for people just like you to save, even if they didn’t think it was possible before. Check them out in the App Store or on Google Play and start saving today!