The smartphone has become the one-stop-online shop when it comes to purchasing goods. With the huge number of downloadable apps available, there is an app for almost everything. With this influx of unique and intuitive apps, now is the time to take advantage of finance-related technology.
Our 5 Top Recommendations for Money Saving Apps: From Calculating Financial Budgets to Avoiding Late Fees
1. Qapital
Qapital is considered one of the best money saving apps on the market. The app to help you saving money is free. Things you can do with this financial app is rounding up your change or contribute a lump into an FDIC-insured savings account.
Rounding up change or setting a specific dollar amount is an effective way to get into the financial habit of saving on an ongoing base.
Qapital allows its app users to earn interest on savings. But it’s only at a rate of 0.10%. Don’t forget to sign up for a separate spending account which provides you with a debit card. With the spending account, you can transfer your spare change right into a Qapital savings account.
2. Digit
Do you have a challenge budgeting? If it isn’t your strong suit, let Digit help you! This money saving app evaluates your current income for you — plus all of your personal expenses — and then computes the exact amount so you know what you can save.
After you agree to this recommended savings amount, it will be transferred to a Digit account. Your account is insured by the FDIC.
Over time, you will develop a good understanding of how much to save depending on your expenditures and income. Please keep in mind, Digit charges a monthly fee starting at $2.99 after a 100-day free trial. The good thing is, it will pay any overdraft fees if it saves too much on your behalf.
3. Honey
Honey is another great money saving app. 80% of Americans have purchased something online (source: PEW Research Center). Forecasts for online shopping continues to show upward trends. If you love the convenience and easiness of buying your goods online, the Honey app helps you to save money and limit overspending.
Use the free browser extension Honey offers to automatically find coupon codes for the store of your choice. The money saving app can find coupons you can use on over 30,000 shopping websites.
4. Mint
Do you easily overspend while shopping or are you plagued by fees and penalties from late payments? Mint helps you track all of your bills and sets up payment alerts. In this way, you can make late fees and penalties a thing of the past. It’s a free money saving app and easy to set up.
5. Clarity Money
Not only does this financial app educate you to understand where all of your money is going, but Clarity Money helps you to find forgotten subscriptions. It also reminds you in case you are paying for something that you don’t use anymore.
It helps you to save money every month by negotiating lower rates on your credit cards or other loans. In case you struggle saving money or you don’t know exactly where the money flows every month, Clarity Money gets you back on track.
Financial apps like Clarity Money are a great resource when it comes to money management. But it’s only one piece of the puzzle on the road to having a great financial plan.
Working with an experienced investment advisor to gain a good understanding of your financial situation and plan for the future is a must.
Our team’s knowledge and expertise combined with today’s technological advances like these money saving apps can help you get back on track with your savings and set a course for achieving your longer term financial and retirement goals.
References:
- Want To Save Money Without Thinking? NerdWallet- USA Today – https://www.nerdwallet.com/blog/banking/best-money-saving-apps/#qapital
- Online Shopping and E-commerce Aaron Smith-Monica Anderson – http://www.pewinternet.org/2016/12/19/online-shopping-and-e-commerce/
- 15 Money-saving Apps For People Tired Of Being Nickle-and-dimed Renzo Costarella – https://www.entrepreneur.com/article/306015
- Banking Designed with Your Goals in Mind. https://www.qapital.com/
- Champion Of Your Money https://claritymoney.com/
- Digit https://digit.co/
- Honey https://www.joinhoney.com/
- Money, Credit Score & Investing https://www.mint.com/
