The 5 Best Money-Saving Apps That Work Hard So You Don’t Have To

Saving money is a lot like eating your leafy greens regularly or flossing your teeth every day. You know it's important, yet you're probably not spending much time or thought on it.

If you're not making consistent contributions to your savings account, your long-term goals will end up suffering. Big and small financial goals are important so that you can save for emergencies, retirement, vacations, holidays, etc.

And that's what the best money-saving apps help you do. It's not always easy to save, but thanks to technology, there are incredible apps out there that do all the hard work for you.

Yes, you read that correctly! Less pressure and effortless savings are right at your fingertips.

Many of these apps track your everyday purchases, transfer cash to separate savings accounts, and much more.

The Best Money-Saving Apps

Before you hit download, here are the main criteria we followed to find the best of the best money-saving apps:

• We looked for free or low price apps because let's face it; no one wants to spend a lot of money on a money-saving app.
• Next, we looked for ease of use, flexibility to change goals, and other perks.

It's never been easier to track your money and stay on budget with the best money-saving apps. Let's dive in!

1. Digit

For all the people who want to sit back and not think about your savings account, Digit is for you. With zero effort on your part, even non-serious savers can save a serious chunk of change.

Here's how it works, Digit evaluates your spending habits and transfers money from your personal bank account into your FDIC-insured Digit account.

Every 1-3 days, it automatically makes a transfer ranging from $2-15 based on the algorithm and the status of your checking balance, upcoming income, bills, and spending patterns.

The great thing about Digit is that the amount it takes out is barely noticeable, but the small transfers add up over time. This is certainly not a “get rich quick” scenario, but over time it will build a generous cushion for yourself if you ever need it.

Digit is geared towards the tech-savvy millennial generation that's very comfortable with technology and looking for an easy way to start saving big just a little at a time.

For these users, the $5.00 monthly fee is worth the convenience the app provides. Digit's helpful text service allows customers to perform banking transactions without the use of a computer.

From the SMS messaging, you can view your balance, withdrawals, transfers, and upcoming bills. There's also no account minimums and no overdraft fees.

Plus, all Digit customers earn a .10% annualized Savings Bonus every three months they save. You'll also get a $5 referral bonus for each friend you get to join.

Give it a spin; it's free for the first 30 days!

2. Qapital

Qapital transfers cash to savings for you by turning your everyday activities into savings opportunities. It's effortless, motivating, and honestly even a little fun!

The app is very customizable for the person who knows a thing or two about saving but still wants an extra boost.

All you need to do is link your checking account to Qapital as a funding account; then, they open up FDIC-insured savings account at a partner bank for you. Next, you choose a “rule” that you want the app to save for.

For example, you could have Qapital automatically transfer 10% of your paycheck every time you get paid, round up to the nearest dollar on every purchase and transfer the change to savings, or even move $20 whenever you hit up the gym.

The possibilities are endless. Set it and let the app do all the work for you.

The app is $3.00 per month. It also connects to IFTT (an app that stands for “if this, then that”), which suggests even more cool ways to save.

Whenever you're ready to access your savings funds, you can easily transfer straight into your checking account or spend it using a Qapital Visa® Debit Card. (Qapital Cardholders automatically earn interest on all the money in their accounts, hooray for free money!)

The interest rate on this account is .10%, which is not great, but it's okay for a checking account. If you want to be able to customize your savings, but leave the hard work at the door, Qapital may be your solution. “Save small to live large” is their motto, and we couldn't agree more!

3. Acorns

Acorn not only focuses on saving but also smart investing. The app rounds up every purchase you make to the nearest dollar and automatically saves the difference.

It then invests that money in a low-cost exchange-traded fund or ETF. You'll be asked questions regarding your income, net worth, and risk to determine which investments are right for you.

For anyone interested but nervous about investing their money, Acorn is a perfect first step. There is a $3 monthly fee if your balance is less than $5,000 or a .25% annual fee if your balance is more than $5,000.

You also can set lump sums manually to be saved, such as $5-50 every day, week, or month. Essentially, Acorns is a virtual piggy bank.

All your leftover change from purchases is stored in the app, and over time you'll be pleasantly surprised to see how much all of your “roundups” and investments will grow!

You do have to pay taxes on any gains, so keep that in mind.

However, overall it's a great non-intimidating way to start investing and saving your money.

4. Varo

If you're looking to grow your savings quicker than the average person, Varo is a mobile banking app that can help. With Varo, you can open an online checking and savings account that pays more than 19 times the average APY on savings accounts.

There are also no monthly fees. more than 750,000 people have already signed up with Varo, and you can open an account with just a penny. So if you're looking for a way to grow your savings quickly and easily, Varo is a great option to consider.

5. Stash

If you're looking for a way to invest your money without having to put in a lot of work, Stash is a great option. All you need is your phone and $5 to start. The app offers all the tools you need to make investing a totally passive activity.

For example, you can opt to round-up your purchases and invest the spare change, set Stash to withdraw money on a set schedule, or rely on its Smart-Stash feature to determine how much you can afford to invest.

Best of all, there's no minimum balance required and the monthly fee is only $1 for accounts with balances under $5,000. So if you're looking for an easy and affordable way to invest your money, Stash is definitely worth checking out.

Frequently Asked Questions

What is the 30-day rule?

For anyone who struggles with impulse buying, the 30-day rule can be a helpful way to curb spending and make more thoughtful purchases.

The Rule is: If you see something you want, wait 30 days before buying it.

This waiting period gives you time to consider whether you really need the item, how much it will cost, and whether there are cheaper or better alternatives available. It can also help to avoid buyer's remorse, which can often set in after making a purchase on a whim.

Of course, the 30-day rule is not always possible or practical, but for big-ticket items or items that are not likely to go on sale, it can be a useful way to save money and make smarter choices.

Is there an app that saves your spare change?

Many people find it difficult to save money, but there are a few apps that can help.

Acorns is one of the more popular apps that puts your spare change into an investment account. You simply link your debit or credit card to the app and it rounds up your purchases to the nearest dollar, investing the difference. Over time, this can add up to significant savings.

Another similar app is Digit, which also helps you save by automatically transferring money from your checking account into a savings account. Both of these apps are great for people who want to save without having to think about it too much.

How can I save $1000 in 3 months?

Saving money can seem like a daunting task, but it doesn't have to be. With a little planning and discipline, you can easily save $1000 in just three months. Here are a few tips to help you get started:

Set a goal.

Decide why you want to save $1000 and what you'll use the money for. This will help you stay motivated when things get tough.

Make a budget.

Sit down and figure out how much money you have coming in each month and where it all goes. This will help you find ways to cut back on your spending so you can save more.

Automate your savings.

Set up a direct deposit from your paycheck into your savings account so you don't have to think about it. Or, set up automatic transfers from your checking account to your savings account each week or month. This way, you'll never even see the money you're saving and it will start to add up quickly!

Save your windfalls.

When you get a bonus at work or come into some extra cash, put it straight into your savings account rather than spending it. This will help you reach your goal even faster.

Decide how much you need to save.

Finally, figure out how much you can realistically set aside each day, week, or paycheck to reach your goal. If you get paid every two weeks, divide your goal by the number of paychecks you'll receive in that time period. To save $1,000 in three months, you'd need to be saving $11 a day or about $83 a week.

Conclusion

If you're looking to save a little extra money, there are plenty of great apps out there that can help make the process a little bit easier. We've highlighted five of our favorites here, but there are plenty more where that came from.

So don't be afraid to do some digging and find the app that's best for you. And remember, even if you only use a few of these tips, every little bit counts when it comes to saving money.

So get started today and see how much of a difference it makes in your bottom line!