FTC: This post is not sponsored, but does contain some affiliate links. All thoughts and weird opinions are my own.
I am a firm believer that any and everyone can save money effectively. Whether you are saving to go on vacation, make a major purchase or to pay down debt. However I know that distractions are real AF and can get in your way. That is why you need to always seek help when you need it. I think I’m really good at saving money, when I have a goal so I like to keep visual reminders of my goals.
Since I spend most of my time on my phone (I’m actually trying to change that), I’ve installed 3 out of the 6 recommended apps below… and I’m planning on adding one more to the mix. You don’t want to overwhelm yourself so I don’t think you should download all 6 immediately. Jumping head first into your money saving journey is great, but remember we’re going for long term and I don’t want you to burn out! I’ll share my thoughts on the apps that I do currently use, and give you the 411 on the other apps you may want to give a try.
6 Easy Money Saving Apps To Save You Coin
PROS: Automatically saves money for you that it thinks you can afford to save. This takes out the guessing game and extra step that you have to do. The app analyzes your accounts, your spending history, and your bills. If the algorithm thinks you can put away some extra money into a savings account they automatically take the money out of your account daily. This can be anywhere from 2-17 dollars a day. You can take the money out of that savings account at any time.
CONS: I used Digit back in 2016, so since then a few things have changed. When I used Digit two years ago it was a completely free app. It now gives a free trial, and will cost you 2.99 a month when the trial ends. I don’t know if I’d love to use a money saving app that actually charges me money so that is a bit of a turn off. Also (this is based on my use of the app back in 2016) they did not have settings that allowed you to change how much could be saved. So there was a possibility that you could be over drafted. To avoid this you can turn off savings withdrawals for X amount of days until your account gets back up to where you want it to be.
PROS: Qapital is FREE99 and you have a bit more control than Digit offers. Qapital lets you use roundups to the nearest 1 or 2 dollar amount. For example if you have spent 3.40 on a purchase, Qapital will take .60 cents into your savings account. What I like most about Qapital is how it has evolved as an app. I’ve been using Qapital since 2016, and not only can I save by using the roundup option, I can also set up my savings to trigger to take 10% of my paycheck. You can also set up the 52 week plan that would result in 1,378 dollars at the end of the year. Best part if you and your bestie or your boo are trying to save for an ultimate goal, you can save and track your progress together. If you guys get into a fight, or no longer decide to work on the goal together, you can only take out what you put in.
CONS: I’m not a fan of seeing tons of transactions on my account, and Qapital takes money every single day. So if you have the roundups option on you will see little .30 and .60 cent transactions on a daily basis. It’s not the worst thing, but it just irks me personally.
Acorns is my BAE! I’ve been using Acorns since 2016 as well (that was the year I really started waking up about financial responsibility obviously) and it has helped me save the most coin over the years
PROS: If you are looking to get into investing and stocks in a small minor way that won’t be too intimidating, Acorns is a great way to get started. They use roundups just like Qapital, and invests that money into low cost exchange traded funds (EFTs). This app is also great to help you with saving money. You can take the money out at any time, or increase the savings options. You can do 1 dollar a day, 25 a week, or just use roundups as a method of saving.
CONS: If you have an account that is below 5,000 dollars they will charge you a monthly fee of 1.00 dollar. I just don’t like saving options that take money too…so that is the only downfall to this app.
I’ve never used Trim before but I’ve heard many good things. So this review is based off other people’s experiences.
PROS: I love a good algorithm that can help me see things I can not see, especially about my finances. Trim offers suggestions in areas you can/should cut back on to save more money. This means it will cancel subscriptions for you that you don’t really need, and will work on finding you more affordable costing services in regards to cable, car insurance, and internet. I’m always looking for ways to cut bills so I’m definitely thinking about adding this app to my money saving repertoire.
CONS: Since I haven’t used this app before there are no known cons for me.
PROS: I’ve heard such amazing things about Mint that I decided to download it and give it a try. Mint is a budgeting app that helps you stay on track with your bills and allocate an appropriate amount of money into savings. I also love the fact that Mint helps you keep an eye on your credit score, and you can set up savings for retirement or an emergency fund. I love options!
CONS: I’ve only been using Mint for a few weeks and haven’t run into any major issues I’d consider to be a con. I will say that I don’t know if this app is for the faint of heart when it comes to budgeting and saving. It can be a bit intimidating at first, but after a few weeks I’ve gotten the hang of it. But I can see how someone who is new to budgeting may feel overwhelmed.
6. Debt Tracker Pro
PROS: I haven’t used this app yet, but I did download it to my phone to give it a shot. Debt tracker pro is a great app to use to monitor your debt, and make a viable plan to pick away at it. This app gives you a snapshot of your spending and helps you save money to make the payments that will help you dig yourself out of debt. They set up a visual plan for you to get out debt and the interface is super easy so there is a quick learning curve. As someone with a shit ton of student loans I can appreciate this app a lot, and once I have used the app for a while I will absolutely bring you a full review of it.
CONS: This is another app that costs money to save money. This app is a one time purchase cost of 1.99, so if you can get passed that initial fee, then its smooth sailing from there.
If you have had experience with any of these apps, or know any others that could be of assistance let me know in the comments below! I’m always open to new ways/methods and apps that help save money!
You May Also Like
Hey there! I’m Melissa, co-founder of Trials n Tresses, natural hair and beauty lover, binge tv watcher and lover of life. When I am not creating content for TNT, I’m busy teaching the future of society.