Saving money can be difficult, but it’s important if you want to experience financial success in the future. If you’re considering a debt consolidation loan, it’s also important that you start exhibiting good saving behavior. Fortunately, financial technology is able to help you keep track of your savings – it’s a great way to encourage yourself to save as much as possible.
It’s never too late to start saving money. We’ve created this guide to help you get a better understanding of some of the best money saving apps on the market. There are plenty of great tools you can use to help you improve your saving habits. If you struggle to motivate yourself to save, it can sometimes help to have a digital partner to push you along. Apps have been helping hundreds of thousands of Americans improve their futures. Check out our recommendations below!
Digit is an advanced platform that appears to be the ‘artificial intelligence’ of the savings world. Digit analyzes your bank statements and credit card accounts to find trends in your earning and spending. It makes suggestions to try and help you better approach your saving goals.
In addition, if it feels as though you are not saving as much as you can afford to, it will transfer money from your account into a Digit savings account automatically. You can extract money from this account at any time. You can sign up for a free trial, but this app will end up costing you a small monthly fee of $2.99. It’s well worth the cost if you use it effectively.
Qapital is another extremely advanced platform that allows you to fully customize the way that you save. It’s an awesome tool for people who are trying to create automatic saving mechanisms for their bank account. Qapital can be used to fully integrate and customize the way you save. For example, you can have a certain amount of your pay check deposited into you Qapital account every week.
With Qapital, the possibilities are truly endless – there are a variety of different customization techniques that you can sync with the app. It adds a bit of fun to the entire saving process. In addition, all their bank accounts are FDIC insured – your money is safe in a Qapital savings account!
Acorns is an extremely popular app that takes money from your checking account and places it in an investment portfolio – everything happens automatically. Acorns rounds up every purchase you make, and uses the spare change to start accumulating money in an investment portfolio. You can link it to bank accounts, debit cards, or credit cards.
Because you’re not technically putting money in a savings account, this is an investment app by definition. But you can choose the amount of risk you want to take, and all portfolios are diversified. Don’t expect to see huge returns on your money, but most portfolios have appeared to be pretty stable! Regardless, this app is a great way to start saving money without having to lift a finger!
Clarity Money is another great platform that helps thousands of people around the country save more money. Clarity Money analyzes your accounts and makes suggestions – such as cancelling subscriptions. It also allows you to set budgets and assists you in helping save money over prolonged periods of time.
Clarity Money is a great app for those who want a platform with great features – it is much more minimalist in terms of design when compared to some of the other apps we have suggested in this article.
Mint is another extremely powerful application – it also has a desktop function. This is backed by the same company that provides you TurboTax – it has the strength of a large software firm behind it. It provides you with analysis and budgeting across various different accounts. You can connect credit cards, debit accounts, savings accounts, and investment accounts.
This platform is great for those who want an app that can handle a range of different accounts and portfolios. You can sign up for the service for free, which makes it accessible to an individual on any budget. Another major benefit of this platform is that Mint provides you with free credit reports – it can help you keep on top of your credit score too!
Unsplurge is a bit different to some of the other apps that we’ve mentioned. This app allows you to set specific savings goals to meet – it’s best for those who are saving for a holiday or some other form of item or product. It also integrates with your social media accounts so you can share your savings journey with friends or family.
Unsplurge is good for people who have a specific item they want to purchase – it’s not a great platform for someone who wants a comprehensive savings approach. If you want to receive in-depth analysis or information via this app, don’t get your hopes up!
The one good thing about Unsplurge is that it makes the habit of saving enjoyable for people. Even though it isn’t an in-depth savings platform, it does help people develop good habits. Any form of saving is good saving!
Fortunately, there are plenty of great apps available to those who want to start saving money. Now more than ever, you can receive metrics and personal financial data to help you make better savings decisions in the future. In addition, you can set up automatic payments and withdrawals to help you better accumulate money without the added stress of manual transfers and reminders.
Saving money is the first step to financial freedom. Having cash saved is the best way to make sure that you’re able to take advantage of financial opportunities. It also means that you’re prepared for emergencies, should they arise. If you don’t save money, an emergency may mean that you end up having to borrow money to cover costs – this can result in a serious amount of debt, especially if you get a loan with a high interest rate. Consider looking into the best debt consolidation if its gotten out of control. And remember there are credit card consolidation loan bad credit options if your credit score happens to be lower.
Financial Advisor, MoneyBeagle
Claire is a noted financial writer and author of hundreds of articles about personal and business finance. Before getting her MBA, she graduated with a BS in Economics. Her coursework focused on the different ways that debt, debt structure, and debt restructuring affect micro and macro-economic issues.
Upon graduation, she took a job at an investment bank that worked with municipal and county governments to help them reorganize and structure their debt so they could continue to provide essential city services.
Get out of Debt Today