Apps That Will Save You Money in 2022
The process of setting aside some of one’s income each month for future use is sometimes referred to as “personal finance 101.”
They are certain that it is not hard. You need just do the necessary steps! Focus! Fight the need to spend your money by being as disciplined as possible! Put as much money as you can into credit or that piggy bank!
If I’m being completely honest with you, it’s not even close to being the truth.
Only 15% of individuals living in the United States, as shown by the findings of a study that was carried out by Penny Hoarder and based on survey information collected from the Federal Reserve, have the capacity to come up and pay with two thousand dollars cash.
If only it were as easy to save using apps, the number of people who really do so would be a far greater number.
However, here’s the thing: there are a variety of tools that can save your cash and are affordable; not only will they make the process significantly simpler, but they will also save you from fees, spending too much and missing bills. There are even some of them that pay you with that delicious and sweet interest, which can aid you in earning more cash for yourself.
According to Our Research, These Are the 7 Apps That Will Save You the Most Money in 2022.
Even while it’s wonderful that there is such a wide selection of the best money saving apps to pick from, it’s possible that utilizing them all at once might rapidly get overwhelming.
It’s possible that having that personal finance app for at least three months can help you save money and limit your spending down to the next day, but it’s also possible that it’ll just make things more confusing.
We have compiled a list of the best money saving apps that are currently available in order to assist you in making the selection that is most appropriate for you and the unique financial goals that you have set for yourself (in no particular order).
1. Digit: An Idle Way to Reach Your Savings Objectives
Digit is one of the best cutting-edge smartphone apps that, if you need help finding out how much money you can afford to save per month, it will compute the amount of money for you and show you how much you can afford to save. This will help you save money and make money without a lot of fees, features, or purchases. It’s the best money saving apps and its super easy to use.
Start by downloading the Digit app on your mobile device, then link it to your bank account. (The application will remove funds from this section and deposit them into a savings account. (In my perspective, a financial incentive!)
After that, choose your objectives with regard to your savings. For instance, you may decide to put $2,000 into a savings account for unexpected expenses and then spend the remaining $500 on a shopping trip over the weekend.
Digit will use its sophisticated data algorithms to analyze your income and purchases now that you have an idea of how much money you can put away thanks to the app. It will routinely put very little amounts of money into an account that is FDIC insured and called Digit. This account assures that there will be no overdrafts, interest or extra bills.
Even more so, it will provide you with daily notifications that are updated in real time, so that you are never taken aback by your account balance. Even on a bad day or rainy day, it will always show your digit account!
You are free to suspend or withdraw money from your savings account at any time; however, it will take one business day for the funds to be credited to your checking account after the transaction has been processed.
People who want to rely on automated savings but find it difficult to assess how much money they can afford to save are the best candidates for this type of account.
The first month is completely free, and after that, there is a $5 fee every month.
Accessible through Android and Apple iOS.
2. Acorns: An online kitty bank that doubles as an investment account
Acorns is a micro-investment smartphone software that helps you to save money while also getting your foot in the door of the investing world apps while at the same time giving you the opportunity to make small investments.
After installing the app, link any debit, credit, and/or checking cards you use often. Then, go ahead and enjoy yourself. Your investment portfolio can receive insurance protection of up to $500,000, which means that the entirety of this data is protected.
Once its round-up feature is engaged, Acorns will behave similarly to a digital piggy bank by automatically rounding up your transactions to the nearest dollar and putting the resulting additional change into your Acorns account. This new functionality is available immediately. After then, it will take care of all of the chores that requires a lot of manual labor.
You could even be eligible for cash back when you use Acorns. If you were to join Blue Apron, for instance, you would be offered $30 to invest as a starting capital. You might also obtain a cash back reward of 1.8% to put toward your investments if you book your following Airbnb when you stay and use the app instead of the website.
Best suited for people who aren’t afraid to experiment with their luck with apps and are interested in making financial investments with their own resources.
For Acorns accounts with a value of less than one million dollars each month, there is a fee of $1.
When you sign up, you will automatically receive a bonus of $5 in your account.
Accessible through Android and Apple iOS.
3. Qapital: A Pleasant (almost Compulsive) Method of Money Saving
Check out the Qapital app if you want to, you know, spice things up while you’re putting money away.
When I initially started using Qapital in 2016, I had just obtained my first full-time job and was having a hard time putting any money down in savings. As a direct result of using it, I was able to steal $700 in around five months’ time.
When you download the Qapital app on your smartphone, you will have the option to set savings goals and link your bank account. You are going to lay down the parameters for each individual target. The portion that I spend the most time on is coming up next.
For example, if you are particularly motivated to save money for your trip to the Bahamas, you might tell Qapital to pay yourself $5 into your Qapital account every time you meet your daily step goal. This is what convinced me to use the free app! Well also that its a good banking app and it helps with my terrible spending habits…
This would be a great way to motivate yourself to be active.
Or, perhaps you are a frequent customer at Starbucks. Instruct Qapital to deposit $1 into each of your savings accounts or investing objectives every time you use it.
(Even though it has expanded to provide banking and other financial services since I last used Qapital, I continue to place a high value on the fact that its primary function is to facilitate savings.)
Individuals who take pleasure in a difficult task and who like to turn the process of goal-setting into a game are the best candidates for this activity.
Following a free 30 day free trial, the basic edition will have a recurring fee of $3 per month.
Accessible through Android and Apple iOS.
4. Twine: A Simple Strategy for Couples to Cooperate and Achieve Mutual Objectives
If you and your significant other are looking for a way to save money together toward a similar goal, you may do it with the help of the app known as Twine. It is beneficial if you own a debit card, as well as one or more credit cards.
Let’s say that you and your significant other have decided that you want to take a trip to the Bahamas for a few days somewhere in the near future. Or maybe you want to put money away for a down payment on a house that you plan to buy in the next few years and that’s your motivation for saving money. Twine gives you both the ability to work toward whatever it is that you want to achieve.
You have two options available to you while using this app. You may either choose to make investments with your money in the hopes of increasing that money’s value, or you can choose to save your money in a free joint account that has a variable interest rate of 1.05 percent. (The price of this option is twenty-five cents for every five hundred dollars that is invested.)
In order to put money into your savings accounts or investment accounts, you and your partner will first need to set up separate Twine accounts for each other and connect your individual bank accounts together. The next step is to decide on the amount of your monthly deposit as well as your objective (vacation, down payment, emergency fund, etc.).
Keep an eye on how much more money you have in your savings accounts as a result of this.
People who want to pool their efforts to reduce their financial cost would benefit the most from this option.
Having saved your money to the nearest dollar. This app is FREE.
When you sign up, you will automatically receive a free bonus of $5 in your account.
Accessible on computers, Apple iOS, and Android.
5. In the language of Varo, a savings account that pays 19 times the average or more
Its good you are putting money down or some spare change aside for the future, which is always a good thing to do. On the other hand, if you keep your savings in a traditional bank account, there’s a strong chance that the value of your money isn’t growing as quickly as it otherwise could be.
However, there is a legitimate method that may make money grow in your online banking accounts more than 19 times faster than the typical person.
It concerns the money saving app known as Varo. In comparison to the modest sum, the online checking and savings account that you open with Varo will pay you more than 19 times that amount on your savings account.
The average annual percentage yield (APY) for a savings account was reported by the FDIC to be 0.06%. Your money is safe in the FDIC’s hands.
In addition, there are not any recurring costs to worry about either.
Even if opening a new bank account isn’t exactly everyone’s idea of a good time, Varo makes the process as painless as possible for its users.
Over 750,000 people have already taken advantage of this free of cost opportunity, and signing up won’t even set you back a penny.
One of my personal favorite apps to save money, this app gives you access to a bank account, debit card, credit card, investment account, and savings account all in one banking app.
Another fantastic software for saving money in general!
Best suited for people who require a separate, hands-off account to save their money and benefit from compound interest.
Price: Free App
Accessible with Apple iOS.
*Varo disclosure: As of January 29, 2019, the APY was correct. This rate is erratic and subject to change. Account opening does not need a minimum balance. Interest on savings accounts must be at least $0.01. The Bancorp Bank, a member of the FDIC, offers deposit insurance to at least $250,000 for its customers.
6. Choose-Your-Own-Adventure Investing: The Stash App
A phone shows the money-saving apps software called Stash.
The Penny Hoarder by Aileen Perilla
All you need to get started investing your funds is a smartphone, the Stash app, and $1.
This software provides all the resources required to make investment purchases a fully passive activity and is a great way to help you make money without an extra cost.
Choose to round up your purchases to the nearest spare change and invest the extra change or cash, program Stash to withdraw funds on a predetermined timetable, or rely on its Smart-Stash function, which will assess your income and outgoings to calculate how much you can afford to invest.
Put your money in one of more than 150 individual stocks and ETFs. You don’t need to invest a lot of money to start because they are micro-investments.
Best for people who wish to invest their savings after automating their savings.
Price: Cost is $3 to $9 monthly
Bonus: After you make your first deposit, The Penny Hoarder and Stash will offer you a $5 free sign-up bonus.
Accessible through Android and Apple iOS.
Clients could be charged any additional cost that is not covered by the monthly Wrap-Fee by Stash, its custodian, or both. It is an FDIC-insured app!
7. Chime: A Service That Will Carry Out All Your Hard Work
Chime is the service to utilize if you want to include several of the options on this list into a mobile app that is simple, free, and straightforward to use.
When you join up for Chime, you will be provided with access to an online checking and savings account. Since they are connected, exchanging cash between the two is a straightforward process that can be done at any time online.
In addition to this, whenever you use your Chime debit card to make a purchase, the amount of your transaction will automatically be rounded up to the nearest whole dollar, and the difference will be saved in your savings account. In addition to this, you may set up your savings account to receive deposits on a regular basis.
Creating an account on Chime will cost you around five minutes from start to finish.
Customers who are sick of downloading new programs and would rather that their financial technology provider take care of all the data of their savings account would benefit the most from this solution.
Mobile operating systems such as Android and iOS from Apple are supported.
During the course of our apps analysis, we delved into additional detail about the several savings options offered by Chime.
Are You In Need Of Further Assistance? Find the most suitable mobile app or apps for managing your finances.
If you are still having problems saving money, you might want to think about beginning the process all over again using a budgeting program. By developing a spending plan and keeping careful tabs on your checking account, credit card, investment accounts, and banking fees, you may determine exactly where there is spare change and how you can more efficiently work toward achieving that savings bonus!
Clarity Money: Apps to help you with your savings goals
As a starting point, we recommend that you make use of Clarity Money*, which is a free tool that helps you to view, organize, and take control of your financial situation all at the same time.
It’s not a complicated procedure at all. By installing the app, linking it to your existing accounts, and utilizing it, you may be ready to learn more about where your money is going and how you can get some of that money back. This is one of the greatest apps available to assist you in your road toward achieving your financial goals, and it is also a fantastic app for saving money.
Clarity Money will analyze your spending history and use that information in order to provide you with financial insights. It will reveal your real expenditures in a variety of sectors, such as bars and restaurants, as a fraction of your overall spending.
On the other hand, it is more than just an aesthetically pleasing recap of the you spent over the weekend shopping or even every three months incase your looking for those features.
In addition to this, it gives you access to the information and tools that you require in order to begin making better choices with your shopping, investing, bills, checking account and any savings. In addition, each of them may be accessed with features in the app and can be used in a manner that is not overly complicated.
Price: Cost is $3 – $15 Per month depending on the user
*Chime is not a bank; it is a provider of financial technologies. The Bancorp Bank or Stride Bank, N.A., members of the FDIC, offer banking services and issue debit cards.