Let’s talk about the latest apps that help save money. It is not strange that you are looking for ways to save money. Who doesn’t want to have extra bucks in their pockets, eh?
There are many ways to save money, I am literally, you can save money simply by putting a dollar away every day in an envelope, you can get your own cute money bank and start saving. However, you can also adopt digital methods to save money too. There are many apps that help save money.
Honestly, there are thousands of apps out there to help you save money, but which one to try out? every single app? no way, that is time-wasting and we do not want to waste time as it is also money.
What I have done is, I tried almost all of the top-rated apps for you so that you can narrow down your search for the apps that help save money.
How good are these apps, and how do these apps help save money? We will discuss this in detail here in this article for you.
Let’s dive in…
Should You Use Apps to Help You Save Money?
This should be the first question that you should be asking, It is important. If you are not using payment methods that include online transactions, from your bank or other payment platforms, or you are not paying for subscriptions then the apps that help save money are not much of a help for you. You might end up spending more on these apps as not all of them are not free.
If you are a person who is walking cashless, your payments are online, you pay your bills through your mobile device, you have a subscription to Netflix, Spotify, and countless other platforms. You should download one of the apps that help save money. Yeah, Right Now, get one.
List Of Apps that Help Save Money
I have created a list of apps that I think are the best apps that will help you save money. All you have to choose the one that fits your needs. All of these apps are amazing and do their job perfectly.
These are the best apps that help save money. I will explain the features of each app one by one and how each app can help save money and how can you improve your financial situation using these apps.
One of the most downloaded apps, Mint definitely will help you save money. This app has proven its grounds. This app has some amazing features that I will be discussing in a moment.
Mint claims that you can save $150+ every month if you are using this app. Although this amount is not guaranteed still it’s a bold claim. Let’s see how can you use this app to help you save money.
Features of Mint
One of the things that I like about Mint is the way its reports show up, you can get a clear clutter-free outlook of your spending and goals. You can create custom goals in Mint if you like.
1- Bill Negotiation
This app helps you save money through bill negotiations. Mint has partnered with Billshark to negotiate on your behalf for your bills. We all know that we pay way lot of bills every month.
With Mint and Billshark you don’t have to worry, Billshark will do the talking and if they fail to save money for you on bills, you don’t have to pay them anything. If they help you save money, you pay them a small fee, from the savings and both parties win.
This is a great feature, if you want to save money on fixed bills, try it.
2- Financial Coaching
Being one of the best apps that help save money, Mint has also taken a step to educate people about their personal finance. Knowledge is power, the more you know the better you perform.
Mint provides a personal coach for each user who will be doing an in-depth analysis of your finances to let you know where do you stand. You will be given information about the things that you are doing good and the things that your need to improve in order to save money.
You will also be given a personalized plan of action that you can adopt to improve your overall financial situation.
3- Payment Tracker
Apps that help save money should include this feature, and Mint is no exception. With the bill tracker, you will be notified about your upcoming payments and subscriptions in advance.
Mint shows all of your bills in one place, so you never forget what you have to pay and never miss a payment. Late payments are a big “No” if you are using Mint.
If you know how much of your money is going to the bills, you know how to improve your budget. With Mint, you can do it.
4- Custom Budgets
With Mint, you can create your own custom budgets. You can create unlimited categories, and allot a budget for each category. Mint will notify you whenever you reach your limits.
This will stop you from overspending. This is another feature that makes Mint one of the most useful apps to help save money. Based on your custom budget, Mint will also give suggestions to help you improve.
Last but not the least, If an app is not safe, it can not be categorized as the best app that helps you save money. Safety is our priority, especially when it comes to our financial data.
Mint is from Turbotax and Quickbooks, Your app is also protected by a PIN code and multi-factor authentication which is another layer of security.
We all struggle at saving, and if we are unable to save, We are definitely unable to invest. While Mint was helping you to save money by cutting down your expenses, Acorns is one of the best apps that help save money through investing.
Whenever you swipe your card at a grocery store or a gas station, Acorns rounds up the spare change to a dollar and then automatically invests the money in shares and stocks. Isn’t that great?
You would be amazed to see how much have you invested without knowing in a few months when you will see those pennies going up.
Features of Acorns
1- Easy Investing
When I first tried to invest, I was reading about the methods to invest, looking for investing platforms, fees, etc. which was time-consuming and difficult.
Acorns, however, do the hard work for you, you don’t have to get information about anything, all you have to do is use Acorns and your portfolio will be created automatically and you will become an investor without knowing.
2- Investment Accounts
You can use Acorns and set up investment accounts for you and for your family, you can also set up savings account for you children with just $3 or $5 dollars a month. Yes, Acorns investment is not free.
You can sign up and use the app for free, but investing with Acorns is not free, you will have to pay a monthly fee.
3- Personal Portfolios
Acorns have multiple portfolios that are created by experts, you can choose the one that fits your needs. These portfolios are recommended to you based on your financial goals.
Acorns also have a feature that automatically rebalances your portfolio. Most of the things happening in Acorns are in the background, so it’s less worry for you. All you know is that your spare change is not getting wasted. These awesome features make Acorns one of the best apps that help save money.
Another good thing about Acorns is that you can earn while spending money. Acorns give you a chance to invest through the bonuses that you receive for shopping at some stores.
You can shop in more than 12000 brands. The more you spend on these shops the more you will get the chance to invest. You can also find learning material about investing in Acorns for free. This app helps you save money in the form of investments and building your portfolio.
As I said earlier, No app is worth using if it helps save money but is not secure enough. Safety has to be the priority. Acorns do it well, you get notified of any unusual activity. If someone tries to access your account you will get instant notifications.
On Acorns, you get SPIC protection. The app and website are 256 bit encrypted so it is very difficult to breach, you will be contacted by Acorns about any unusual activity against fraud protection.
Your account is also protected locally by two-factor authentication, automatic log-out, and ID verification. All of these security features make Acorns one of the best apps that help save money securely.
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Digit is a very powerful app that helps you save money without you even noticing. Just like Acorns, it works in the background. Digit is a kind of mix between both a savings account and a budgeting platform.
You can consider it an extension to your bank account.
Features of Digit
Digit is obviously one of the popular apps that help save money. The first thing that digit will do is analyze your account, this analysis will help digit to decide what are your monthly expenses. These expenses will then be categorized.
Once you receive a deposit to your bank account, Digit will start splitting that money according to your expenses, the money for your bills will be separated automatically, the money for subscriptions and utility will go to its own section.
The money that is left is all yours to spend.
This might not be the best budgeting app, but still, digit does its job very well. You can create your own budget and avoid debt. You can also automate your monthly expenses and the money will automatically be designated for them.
All you have to do is input your monthly bills in Digit that you always pay, and digit will do the rest. It will take money from your bank account and set it aside in separate accounts for bills.
And when the time comes, your bill is ready to be paid, the amount is safe and you can pay the bills in time every time.
3- Digit Save
This is by far the best feature, of all apps, digit saves the best. You don’t have to worry about your savings. Once you start using Digit, it will analyze your spending habits and start saving money for you automatically.
It will save very small amounts, in pennies that you won’t even notice, and after a week you will be amazed how much those pennies have piled up.
You can also set up your own goals, let’s say you want to buy a pair of sneakers at the end of the month, you can set this personal goal in Digit and it will start saving for you, and at the end of the month, you will be ready to buy those sneakers.
How much amount Digit will save depends on your Goal and the time frame that you set in the App.
Another thing that makes Digit one of the best apps that help save money is that you are in complete control. You can set the limits, you can set a daily limit on how much money you want this App to save.
You can also pause savings at any time.
This app combines both investing and saving features. You can also invest in the stock market through digit and you don’t need to learn anything. All you have to do is create an investing account with Digit.
Digit will analyze your spending habits, your financial situation, and your money goals, and will automatically start investing on your behalf without you even noticing.
It will choose one of the portfolios that are designed by the experts, it will analyze your personal situation and invest right according to your own financial health.
Digit is also a secured platform like the other two. You can keep up to $25000 in your Digit account, and this amount is FDIC insured, so you are not gonna lose money in case of any mishap.
If you are interested in saving money, well of course you are and that is the reason that you have read so far, then check these Best Podcasts on Personal Finance.
In my opinion, these are the best apps that help save money. These apps are also good if you want to invest and start earning some money passively. I personally used these apps to help save money and they really work.
I hope you have got all the information about the apps that help save money, Let me know in the comments about the apps that you use on daily basis for budgeting and saving money.