One of the most consistent financial advice given is to save. However, this can be a difficult task as it requires careful planning and most of all consistency. Manual saving might not always be possible if income is low.
There is also the risk of impulse buying and overspending which can put a dent in your saving plans. To solve these challenges, there are several apps you can use that will make saving an easy and continuous part of your life.
There are a variety of ways to save on these money saving apps ranging from the use of coupons and promo codes to rounding up change from your purchases. You can also set aside an amount to automatically save at desired intervals of time.
These apps work to ease the process of money saving. You also get the best offers and deals from retailers. Check out these apps and find the best ones that work for you.
Ibotta (One of the best money saving apps)
Ibotta lets you earn money by shopping. It is a cashback app that has partnered with retailers to allow you to earn points. The app allows shoppers to choose offers to redeem whereby you scan receipts through the mobile app once you purchase the product. In the case of online shopping, Ibotta uses a browser extension to earn your money back when shopping.
Ibotta has partnered with many retailers therefore you can easily find offers on the items you purchase. The app has a linked store account in Target and Walmart therefore shoppers can easily redeem offers in these stores. You can transfer the money earned to your Paypal or turn it into gift cards.
Chime is a free mobile banking app that is available on iOS and Android. It provides a bank account that aids in saving and has a debit card. It offers automatic saving that allows you to set aside a percentage of the funds you deposit into the app.
You can also save more by rounding up your purchases and moving the extra change into your savings account. The app is very useful in preventing spending savings by moving the money immediately when the deposit arrives. There are no overdraft fees and the debit card can be used abroad without incurring any fee.
Digit offers simplicity in saving money. It calculates your spending and earnings from your linked bank account and allocates money to savings. Basically, the app removes the burden of deciding what to save thereby making the process easier and faster.
The app only moves automatically if it knows there is money to save otherwise it doesn’t if funds are low. It does its analysis two to three times a week and also offers a 1% savings bonus paid every 90 days. The app has one-month free trial and after it expires, you will need to pay a monthly fee of $5.
Acorn helps you save by rounding up your purchases from your linked debit or credit cards and transfers them to its investment account. The app allows you to create a portfolio that is based on income and goals. The portfolio can either be conservative or aggressive mainly depending on the risk you are willing to take to get a high yield.
Acorns portfolios are made from Exchange-Traded Funds (ETFs). It has partnered with companies such as Airbnb, Apple and Walmart therefore if you make a purchase with them, a percentage will be deposited to your Acorns investment account. The basic cost of Acorns is $1 per month.
Mint is one of the most effective finance apps that help you track all of your financial activities in every one of your accounts. It notes every single one of your transactions and categorizes them. It also helps you develop a budget to guide your use of money on spending, savings, emergencies, and retirement funds.
The app also assists to pay bills on time to avoid penalties and late fees. It is secured with a password to protect your financial information. Mint has a credit score that will help you in assessing your financial situation and note any problems that may arise. The app is free.
You Need A Budget (YNAB)
As the name suggests, YNAB’s basic role is to assist you in creating a budget. It provides a detailed interface that is easy to use to budget. The app teaches you to prioritize some expenses, assign a job to every dollar, and save for emergencies. It helps you ensure your spending is within your means and reduces reliance on credit cards.
The software is available for use in Windows or Mac at $60. YNAB is also very useful in setting long-term saving goals and saving money little by little towards them. The app encourages you to have leftover money from each month to supplement the budget of the next month. This way, even in case of emergencies, you will be financially cushioned.
Qapital is one of the best apps to set your financial goals. It provides lessons on goal setting and encourages you to appreciate savings even in small amounts. You can save on Qapital in two ways. One is by rounding up the purchases you make that are transferred into a Federation Deposit Insurance Corp (FDIC) account.
You can also decide on a fixed amount to contribute to your fund on a regular basis. Qapital offers you 0.10% interest on your funds. You will have to link a checking account to the app in order to fund your goals. Qapital does not charge you any fees.
Although known for finding coupons and promo codes, RetailMeNot is also a great savings app. You can earn cash-back in-store using its feature which can be redeemed through Paypal or Venmo. For instance, its feature Rxsaver is useful in saving money at the pharmacy.
RetailMeNot provides flexible deals that can be found both online and in-store. You can browse offers near you using your ZIP Code and redeem coupons on your phone. The app also has a browser extension that allows you to combine your coupon codes with cashback.
RetailMeNot will help you get the best offers and increase your savings.
Shopkick offers ‘kicks’ or points to users whenever they make purchases online, scan items, or watch videos. It allows you to earn reward points that can be redeemed through Paypal withdrawals or gift cards. You can also earn points by checking into locations through the app using your Bluetooth.
The app is easy to use and free. The kicks are earned quickly and simply thus allowing you to save up money from your spending at retailers.
Honey specializes in selecting coupon codes to help you save money. It works as a browser extension that you can install on all your devices for ease of use. The app will find you deals that will ensure you save on your online purchases thereby reducing your spending.
It has partnered with a broad range of apps so you will not be limited in your selection of brands and sites. Honey shows you the savings you made when you check out and automatically applies them. It is easy to use and you get to save extra money when shopping online.
You might also like: