There are several apps available out there which claim to help people earn cashback or save some money. There are those that are free traps while other offer people with great services. Below are some of the things you need to consider when looking at these apps.
There’s always an app available that can teach how to improve your saving habits as well as provide you with easier ways for managing money and.
According to a survey conducted by Bankrate, at least two-thirds of people who own smartphones have one financial app on the device. However, since everybody uses a different style to save, varying from set-it-and-forget-about-it to hands-on, consider looking for a tool that will work best for you.
There are 3 major forms of money-saving apps: those that help you save while shopping, apps that you can use to save towards a goal and those that are great for cutting cack on expenses. Depending on the kind of goals and preferences you have, you may require one or two of them.
This article outlines some of the best money-saving apps in every category which will help you make the best decision possible.
Best Automatic Savings Apps
As you already know, having saving is an important part of everybody’s financial livelihood, but remembering to put some money aside is the most difficult part. We’ve compiled a list of some of the apps which will help you find the right ways to save money according to your needs. For instance, the apps are good for rounding up change so that you’re able to set aside some cash in a savings account.
Most of these app require you to download them on your smartphone, create a profile and link a credit card or checking account.
1. Acorns: Best for New Investors
If you’re looking for an investing app that will help you round up or your funds on a linked debit and credit cards so that some of it can be used in a separate portfolio, Acorns is what you’re looking for. Once you begin making investments with small amounts of money, you round ups can start increasing by 2x, 5x or as much as x10.
Before you’re given a suitable investment portfolio by Acorns, you’ll be asked various questions about your income, goals, financial situation and risk tolerance. The app will then refer you to one of their investment portfolios that are 5 ETF-based, but you’ll be able to override their selections.
Acorns also includes a rewards feature: You receive cashback for purchasing items from one of Acorns’ partnering brands such as Nike and Airbnb. This is the best app for beginners, but you should consider upgrading to other platforms that will offer you large investment options in future.
Available on: Android and iOS
Price: $1 to $5 each month
Learn more: Millionable’s Acorns Review
2. Qapital: Best for Goal Setting
There instances when we need to have some fun so that a chore can feel worthwhile. Qapital will help you set up several useful rules which can trigger savings such as saving specific amount of money each time you make Instagram posts or as a reward whenever you use less money than expected. You can opt to use a more straightforward method like saving a certain percentage of your income.
You’ll also be able to decide whether the funds are placed in an investment portfolio or account that is insured by the FDIC and is interest-bearing. This is the most suitable app for setting goals because it offers different ways for tracking your progress and saving money. According to Qapital, an average user sets aside at least $5,000 per year.
Available on: Android and iOS
Price: Free trial period of 30 days followed by a $3 to $12 fee per month
3. Simple: Best Banking Alternative
If you’re looking for looking for an all-in-one app for savings that also provides you with free budgeting tools, a debit card and a checking account, Simple is the best choice. The app scans all the money you have and shows much is available for comfortable spending every week, so that you don’t end up overspending. The app can also automate savings by rounding off all your expenditures on your debit card to the nearest dollar and transferring the funds automatically in to a savings account that is insured by the FDIC.
If you prefer doing your banking transactions on your smartphone, bank accounts from Simple are mobile-first. However, the platform doesn’t have any physical branches, some may want to look at other alternatives if you like an option that offers in-person assistance.
Available on: Android and iOS
Price: Free
4. Digit: best for Simplicity
A great option for savings that will help you calculate your savings based on how much is remaining in your account, your goals and spending patterns, consider using Digit. The app will automatically save your funds in a savings account that is insured by the FDIC and distribute the funds in accordance with the goals your set. Depending on your average day-to-day balance, you’ll also receive a savings bonus of 0.5% after every moths. So, if you manage to maintain an average balance of $1,000, you’ll earn a $5 bonus.
The best thing about using Digit is that it makes most of the legwork easier. Your expenses, income and spending may vary from week to week; therefore, Digit’s number churning will help you go a long way when it comes to saving your time and money.
Available on: Android and iOS
Price: Free trial period of 30 days followed by $5 bonus per month
Learn more: Millionable’s Digit Review
5. SmartyPig: Best Free Savings Money
With SmartPig, you’ll be able to make various different money market accounts which will act as your virtual “piggy banks.” All the goals you attach to your account will have deadlines, for example, “Europe vacation 2021, $4,000”and you’ll be able to automate the savings you have in a linked checking account or to transfer funds manually into your accounts that are FDIC insured. SmartPig will also trail how each of your goals is progressing, as well as be able to adjust them whenever you want.
This is an easy-to-use app for saving money, and since it only takes a couple of days for you to receive any withdrawn money in to a checking account, the buffer will step in when you’re tempted to overdraw your savings.
Available on: Android and iOS
Price: Free
6. Twine: Best for Couples
Are you looking for an app which allows you to add a partner to your savings goals such as paying off a debt or savings? Look no further because Twine is the best app for this. You and your partner can either decide to transfer the funds in to a savings account that’s insured by the FDIC or invest the cash in a portfolio that you select.
The app not only tracks your progress, it also offers recommendations according to your financial goals and for people who prefer a more hands-off approach, it will automate the savings process. Since there’s an option that allows two people to have shared goals, it’s a great tool if you’re planning to save or invest with a partner. You don’t really need to share your other financial accounts.
Available on: iOS
Price: Free for saving cash; then for each $500 invested you’ll pay $0.25/month
7. Chime: Best for Spotty Banking History
The other money-saving app that’s completely free and comes inclusive of other services such as savings and checking accounts is Chime. Through the browser or app, you’ll be able to automatically save a certain percentage of your income or ask for assistance from Chime so that they can round up your transactions and transfer the balance into a savings account.
Theis is the best option for people who have a spotty credit or banking history because the bank won’t go through your ChexSystem report or run a credit check before you can register with them. The bank refers this as the “second chance banking” program because it also comprises of a maintenance fee per month, zero overdraft and a doesn’t require a minimum balance.
Available on: Android and iOS
Price: Free
Learn More: Millionable’s Chime Bank Review
8. Peak Money: Best for Visual Goal Setting
The Peak app is centered around savings which are goal oriented but with a visual twist. When you set financial goals into place, the app will start tracking your progress by filling in digital mountains incrementally (which they refer to as “peaks”), allowing them to represent different goals that you’ve planning for.
You can choose to either round up your transactions or set up automated transfers, where all the money you save will receive a 0.5% return which is distributed after every quarter. If you’d like to have visual reinforcement of how your savings are progressing, you’ll get motivation from Peak which will help you achieve your goals.
Available on: iOS
Price: Free
Best Money-Saving Apps for Shopping Savings
Nobody wants to end up paying more than they’re required to. However, the traditional method that involves clipping coupons (and not forgetting to carry them everywhere you go) can be quite inconvenient. Sign up for cashback apps so that you’re able to sabe some cash on almost all the purchases you make on your browser extension or smartphone.
9. Capital One Shopping: Best Browser Plug-In
If you’re looking for a browser extension or app for free coupons that will send you alerts whenever there are any discounts on all your online purchase, consider Capital One Shopping. Once you’ve downloaded and installed the extension on your device, you’ll start getting pop-up notifications from Capital One Shopping every time you purchase products on website with savings offers.
You can easily save funds on your day-to-day online transactions, and the app can also be used to search for low prices as well as scan barcodes for all in-store purchases.
Available on: iOS, Mozilla Firefox, Safari browsers, Google Chrome and Microsoft Edge
Price: free
Learn More: Millionable’s Capital One Shopping Review
10. Swagbucks: Best for Getting Rewards
Swagbucks is a site that allows you to earn rewards for completing different activities such as watching videos, playing games, taking online surveys and shopping. When you register and finish filling out your profile, you’ll be matched with the right activities according to your demographic.
The points you’ll earn when you complete your tasks are known as Swagbucks or SBs and can later be redeem for gift cards. You have better chances of earning SBs by shopping from the company’s partnering retail stores like Starbucks, Walmart, Amazon and Target.
Available on: Android and iOS
Price: Free
Learn More:Millionable’s Swagbucks Review
11. Fetch Rewards: Best for Simplicity
Fetch Rewards is a free mobile app which allows you to earn rewards when take photos of your receipts. If your receipt has a product from a participating brand, you’re awarded with points depending on how much you purchased the product for. The points can later be redeemed for gift cards, be used to enter the monthly sweepstake or be donated to charity.
This is the best tool for people who don’t want to keep tracking their purchases and searches, especially if you don’t lack the time required to earn points after finishing tasks or you’d like to avoid the hustle that comes with using coupons (both manual and digital ones).
Available on: Android and iOS
Price: Free
Learn More: Millionable’s Fetch Rewards Review
Best Apps for Bucket Tracking
The Bankrate did another survey which stated that at least 21% of consumers don’t save any money at all, which is often because the spend most of their income for their day-to-day expenses. However, if you’re using one of the best budgeting apps, you’ll be able to spare some money for savings.
12. Trim: Best Browser Service for Hands-On Savings
Trim is a budgeting app which helps you to stop all unwanted subscriptions especially those bothersome trials that you didn’t remember to cancel by negotiating your bills. They do app meaning that need to register and link all your bank accounts.
Trim will then evaluate all your expenses so that they’re able to find recurring expenses and notify you when you overspend. If you want to stop all recurring services, Trim will either negotiate your bills or discontinue unwanted subscription for you. If you succeed to save money, you’ll have to give Trim 33% of the total amount saved during the first year.
Available on: All smartphone web browsers
Price: Free when you first sign up, if you decide to use bill negotiation option, Trim will deduct 33% from your savings
Learn More: Millionable’s Trim Review
13. Truebill: BEST App for Hands-On Savings
If you’re looking for an app that monitors your expenses and spending as well as link your financial accounts and then negotiate your transactions without charging you, then Truebill will cater to all your needs. If you succeed in saving some money, you’ll get charged a certain percentage of your saving for both services. Truebill takes 40% (compared to Trim’s 33%) and also comprises of better budgeting capabilities such as a monthly spending report.
One of the major differences between Trim and Truebill is the logistics behind their functioning: Trim doesn’t have an app, but Truebill does.
Available on: Android and iOS
Price: Free to open and operate; there’s an optional Premium service that costs between $3 to $12 per month.
Learn More: Millionable’s Truebill Review
14. Empower: Best All-in-One App
Empower is a money-saving app which combines various features available in other services like Automatic Savings, Interest-bearing Checking, Cash Advance of about $250, customized recommendations and budget tracking. Once the app is connected to your checking account, it will help you analyze your daily balance as well as mover money to your AutoSave Account when you don’t have enough funds to do so. If after one week of opening account you don’t have enough money, the app will try the process all over again the next week.
Empower will also analyze your expenses, income and spending patterns so that you have money-saving recommendations that are personalized. The app will also send you notifications for things such as when any of your bills increases, bank charges and missed payments.
However, you won’t be able to create different savings goals, but the additional features found in the app really make up for this exception.
Available on: Android and iOS
Price: A 14-day free trial period, the $18 per month
Learn More: Millionable’s Empower Review
15. Tiller: Best for Spreadsheet Budgeting
Tiller is a budgeting add-on that whose add-ons are operated through Excel and Google Sheets. Once your bank account is linked to your credit card and any other financial accounts, the app will transfer the information to the spreadsheets and repeatedly synchronize the accounts.
You’ll be able to view your net worth if you use the standard Foundation Template, share your spreadsheet with other users, distribute your transactions into at least 200 different categories, etc. Even though Trim won’t reduce your expenditures, you’ll be able to get an in-depth view all your accounts from a single place.
The Budget tab that is sent to you each month displaying how your budget is allocated in every category and the remaining percentage of the budget in comparison to the remaining days of the month. Viewing the tab allows you to either the amount of money left in your budget you assign to particular categories or regulate your expenses accordingly.
Available on: Uses Excel or Google Sheets; no available apps
Price: A 30-day free trial followed by $79 per year
Learn More: millionable’s Tiller Money Review
16. it: Best for Debt Payoff
Undebt.it is a money-saving tool that assist people to create customized plans for paying-off debts. When you finish setting up an account, you can key in your debts as well as the amount of money owed, minimum payment, interest rates and due dated. The app also lists the details through an easy-to-translate dashboard, then the information is used to calculate your plan for repaying debt.
There are several strategies for paying off debts, and you may have difficulty finding the best one for your situation. Undebt.it evaluates all the methods for paying off debts (like “debt avalanche” and “debt snowball”) so that you can discover the ones that fit perfectly for you, plus the app also customizes the plan in accordance to your goals you set.
Undebt.it claims that their users have managed to clear debt worth more than $9 billion through this service.
Available on: Web browsers
Price: Free, and the Premium version costs $12 per year
Is It Worth Paying or an App That Helps You Save Money?
Although advising you to pay for a money-saving sounds a bit contradictory, but the money-saving apps that have high-ratings will be worthwhile especially if they help you figure out things.
The first step would be to figure out the apps that work perfectly with your spending and saving style. If you require assistance with figuring out the amount of money you spend, saving money automatically and how you can cut back on spending, look for an automatic savings app that will provide you with all the answers. However, if you prefer controlling your expenses, consider using a more hands-on app.
You’ll then proceed to estimate the amount of money that can be saved with the app and then compare the said amount to the cost. If you don’t have enough money to spare in your budget, think about starting a free service and then you can slowly graduate to a paid subscription once you manage to stash away some money. Another great option is to start with a budgeting or savings app, and only registering for a shopping app if you have enough money and time.
In general, you can find support when using a great money-saving app that will help you can achieve your financial goals within a short time.
