Regardless of your financial situation, saving up is always a wise plan. Money management might seem like a tedious task, but it’s vital, especially if you plan on paying off those looming student loans or mortgage while also maintaining a healthy outstanding balance.
Even if you aren’t an A+ student on financial literacy, these apps can help you save up and enhance your financial wellbeing. And who knows? You might even pick up a few tips and tricks along the way.
So, what are you waiting for?
These are some of the best money-saving apps out there.
Mint is the app for money management and budgeting.
With Mint, you can keep track of your spending, set financial goals for yourself and set up funds for emergencies and retirement. You can even get a free credit score, which will come in handy when trying to get a loan.
So, with Mint’s help, you can set limits to your spending and create budgets that will keep you in line and allow you to save money overall by utilising your capital in a more informed way. Plus, you can also track your bills and set up reminders for them, which means you’ll never have to miss a bill and face painful penalties again!
From $1 per month on Android and iOS
Acorns helps you achieve financial wellness by investing your spare change from your daily purchases. Essentially, the app offers automatic roundups which utilise your change in recurring investments, and you can also set up an automated retirement account with no fuss through the ‘Acorns Later’ function. Plus, you can earn extra money by earning bonus investments when you shop from specific brands.
Not only that but you can also sharpen your financial literacy through the app’s exclusive content powered by CNBC.
If you want to save money while shopping (to be fair, who doesn’t?), Honey is the app for you. It acts as your personal shopping assistant across more than 400 popular stores and it automatically applies coupon codes that can save you a pretty buck. You can also compile a watchlist for products you have your eyes on, and the app will notify you when there’s a price drop, so you won’t miss out on great deals.
Another great thing about the app is that you while you can shop from different brands and stores, you can place everything in one cart, which will save you from the annoying back and forth from one app to another.
4. YNAB (You Need A Budget)
$11.99 per month (plus 34-day free trial) on Android and iOS
Here’s another brilliant money-saving app that’s earned a spot on this list.
YNAB will allow you to economise better by helping you visualise your spending. According to YNAB, new users tend to save up to $600 in the first couple of months of using the app.
You’ll also have access to personal support, customised reports that will highlight your progress as well as the chance to sync and share your budgeting efforts with your partner.
$5 per month (plus 30-day free trial) on Android and iOS
If you’re not a big fan of budgets and overdrafts, Digit might be a better option for you. The app’s algorithm assesses your financial needs and helps you define your money goals, be it paying off your loans, phone bills or card debt.
Digit will help you save money too, as the app will automatically transfer a calculated amount to a checking account based on your income and spending patterns.
Another cool feature you might find useful with this app is the notifications you’ll get when you’re close to spending more than your checking balance. To prevent you from overdrafts, the app will automatically move money from your savings to your bank account if needed.
6. Personal Capital
What’s great about Personal Capital is that you can keep all your personal finances under one roof, including your bank accounts, stocks, retirement funds and investments. The app’s award-winning tools make it a serious competitor on this list, and you’ll be able to have full control of all your accounts within a single dashboard. This will also enable you to make better money-saving choices both in the short and long run.
You also have the option of syncing your Personal Capital account to your tablet and desktop so you can monitor your finances from wherever you are.
From $1 per month on Android and iOS
Here’s another brilliant financial assistant app.
Whether you want to pay off that overbearing student debt, put some money aside for a rainy day or plan a vacation, you can do so with Stash’s helpful tools. All in all, you can learn to save and budget smarter while sharpening your financial knowledge.
The app offers you access to a personal investment account and a bank account, and it walks you through the first steps of investing and budgeting. Depending on which plan you sign up for, you may have access to even more tools such as a retirement account and custodial accounts.
This innovative app has a lot to offer. At its very core, the Qapital is built on behavioural economic principles and behavioural psychology. Using your personal goals, Qapital supercharges your money-saving efforts by offering you custom tips and advice which will help you save, invest and spend your money wisely.
With the help of this smart personal finance manager, you’ll be able to manage different funds and keep track of your spending, which will help you identify the areas where you could economise more which, in turn, will yield more money at the end of the month or year.
If you’re just getting started on your financial journey and you’re not sure where to go from here, Betterment will walk you through all the steps. Like most apps, Betterment will help you figure out your financial goals, save more on your cash and teach you how you can invest strategically. You’ll also have access to personalised advice from the Betterment team.
Plus, you can grow your savings in a high-yield cash account through their Cash Reserve. Meanwhile, you can rest assured that your money is in a safe place, as, once deposited in Betterment’s programme banks, you’ll be eligible for insurance. And there no transfer fees or transfer limits, either!
This mobile banking app comes with a spending account and an FDIC-insured debit card, while it boasts a lot of useful and impressive features that enable you to have full control of your spending.
The great thing about Chime is that you can save money easily through your automatic savings account, which will set aside 10% of your paycheques. You can also save even more by enabling the app to use spare change from your purchases and transfer them into your savings whenever you use your Chime debit card.
If you need another good reason to give Chime a go, there’s also no charge for overdraft fees, monthly minimum fees or fees for foreign transactions.
Groupon is a great way to save money when you have to spend money. With this app, you could be saving up to 70% on things you need. From travel deals to groceries and Christmas gifts to restaurant discounts, there’s a trove of things and activities you can save on with this handy app.
All you have to do is download the app, share your location and let Groupon find the best local deals.
12. Military Cost Cutters
If you’re a veteran, then this money-saving app is just for you.
Military Cost Cutters connects military staff with military-friendly businesses, and you can find shops in your area using the app’s GPS location search function or QR code scanner.
Military Cost Cutters is constantly updating its database of businesses, so you’ll have a pretty diverse pick of local shops to choose from. You can also help their efforts by uploading discounts yourself in order to help other veterans benefit from these deals in your area, too.
Free on desktop
Trim acts as your personal money assistant by helping you stay on top of all your automated payments. It analyses your spending and alerts you of expenses you can eliminate such as unused or forgotten subscriptions and nuisance charges.
Trim is a little different than other apps. Essentially, you’ll need to sign up and elect a way for the app to communicate with you – either through text messages, Facebook Messenger or email. Once you connect Trim to your bank account, the app will fine-comb through your recurring charges and cancel any unwanted subscriptions. It can also help you save on your monthly bills by generating cheaper service providers or better deals with your current ones.
Free on iOS
This money-saving app keeps your wellbeing in mind. With Peak, you can create digital peaks for each of your saving goals and design a custom plan that can match your needs and earnings. Once you’ve outlined your goals, you can automate transfers and roundups and gradually save up for each of these goals.
Another great thing about Peak is that you can receive a 0.5% annual return every quarter, so the more money you save, the more you’ll earn.
Saving money isn’t just about budgeting. With Ibotta, you can earn cashbacks when shopping for essentials and save on numerous popular brands and products. The best part is that there’s no need for coupons or promo codes; all you have to do is check the app, find online stores that are offering cashbacks (including Walmart, eBay and Target) and earn while you shop. You can also use Ibotta in local shops and still reap the benefits!
With the help of these smart apps, you can maximise your savings and manage your finances more wisely. The first and most important step is to identify your personal money goals. Once you do, you’ll have the power to enhance your financial wellbeing, both on a personal and professional level.
Do you use any of these money-saving apps? Which do you recommend? Let us know in the comments section below!