Saving money can be difficult. In fact, according to CNBC, only 20% of all Americans have anything at all in their savings account. This means if you aren’t saving enough, you are not alone. To change this trend, we suggest the following apps designed to make saving easier:
This helpful app makes saving money so effortless, you might not even notice it’s happening. It works by rounding up the purchase amount on your debit or credit cards and saving the difference via your Acorns account. This money is then invested in exchange-traded funds. You get to choose whether or not you want aggressive or conservative funds.
This budgeting tool isn’t a saving app per say, but it can still help you save money. With the Mint app, you can keep a tighter hold on your bills, ensuring you don’t pay any late fees or over limit charges. You can also set aside a specific amount for savings each pay period by using Mint as your budgeting tool.
Trim is a personal financial assistant in app form. You use it by linking your accounts to the app. Each transaction is then analyzed. Eventually, Trim will make suggestions on where you can cut back and see your savings increase as a result. For example, it might say those stops at the coffee shop every day before work need to go. Be prepared, this is an eye opening app and only for those who are truly ready to get serious about saving.
This effortless app takes the thinking out of saving money. It evaluates your current income along with your bills and other expenditures. It then comes up with an amount you should be able to save on a regular basis. It doesn’t stop there, though. Digit actually places this amount in an FDIC insured Digit account.
This app works similar to Acorns, in that it rounds up your purchases to the nearest dollar and puts the difference in a savings account. However, it goes one step beyond in actually educating you in the process of goal-setting, ensuring you set and reach your savings goals.
Clarity Money is aptly named as it, in essence, helps you “clarify” areas of wasteful spending. It evaluates your current bills and provides negotiation help to get them lowered and will also suggest canceling subscriptions and the like. Clarity Money features a budget element that ensures you stay on top of your expenses and work towards your goal of building a savings.
You Need a Budget
Speaking of budgets, this app appropriately called You Need a Budget features a user friendly interface that helps you learn the value of your money. It also teaches you how to prioritize certain expenses and helps you look for ways to save more of your hard earned money and live within your means.
If you hate fees, and who doesn’t, this is the app for you. With FeeX, you can analyze your investment accounts, such as your 401K and the like. It can suggest alternatives that are more cost effective as it relates to your individual investments and the fees that go along with them.
Use any of the above apps to start saving money and working towards financial freedom.
Clarity Money: https://claritymoney.com/
You Need a Budget: https://www.youneedabudget.com/apps/