One of the goals that most people make for a new year is to save more money or have a better spending habit. Whether you are planning to retire in a few years, take your kids to an expensive school, or go on a luxurious holiday — to make all year goals a reality, you need to have enough money. It means you have to start saving earlier.
The importance of saving cannot be overestimated. In fact, automatic savings through an app is one of the best ways to keep money.
Besides, people that have a habit of setting money-saving goals on the year tend to save faster for a particular purpose than those who don’t. Here is the point that saving money on a weekly or monthly basis is not easy for most people, especially if you are living from paycheck to paycheck. Luckily, there are several apps and tools that make the money-saving task easier by automating the process.
So, no matter how tight your budget is, how hard you are finding it to set aside some cash at least monthly or how out of control your finances are — here are the top apps that will help you keep money and even invest.
Are you a student whose main goal for 2020 is to save more money? In college, generally, you barely have enough cash to spare. While you need to pay all your bills on time and even hire an essay writing service to help to cope with some complex assignments, you must have a firm grasp of your finances to avoid accruing more debt.
Digit app helps to create a money-saving habit in the easiest way through an automatic process. What makes Digit unique is that instead of applying the traditional online bank portal, you use text messages to create a specific goal such as a laptop, vacation, or new gadget, then start saving for any big expenditure. Withdrawals are made anytime and without incurring any additional fees.
Do you want to save as a couple? If you have a great expense that will benefit your whole family, then it makes sense to start setting money aside. Twine allows couples to set up common goals that both of you can achieve. Apart from the saving feature, this app has a built-in investing option but gives control over each partner’s account. It means that solo users can still set up their own savings and investment accounts.
This money-saving app rounds up spare change and places it in your investment account. The money is spent based on your income and goals. Besides, you can make withdrawals at any time using your phone.
While the app requires users to add a credit card and bank account details, you get to choose the amount that will be rounded up. It’s free for college students, no minimum amount required to start the app on, and users select from a preferred wide range of investment portfolios.
This app has an automatic saving program that also rewards you when you save a specific amount per year. This online bank has no overdraft or monthly maintenance fees, no foreign transaction charges, and minimum requirements. Real-time transaction alerts are also available to make it easier to stay on top of spending habits.
With the built-in automatic saving when you spend feature, you get to watch your funds grow thanks to the certain rate given. It enables users to save for a specific goal or grow an emergency fund. Furthermore, if your paycheck tends to be late, then you can use the app to access your pay up to two days earlier.
Sometimes it is difficult to find extra money to save, especially when we spend more than earn. In such a situation, it is best to keep track of your expenditure, and Truebill app helps you do that. You might not be aware that some online subscriptions and even bills eventually add up to a lot of expense. With Truebill, you get to cut on unnecessary expenses and get more money to save.
Getting a clear picture of your monthly finances and cutting down costs can make it easier to save money for something specific and desired. However, it’s best to create a saving plan only after you have cleared all your debts. It is because paying off debts allows you to save more and faster.