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In today’s day and age, we have apps for every essential need; chatting, shopping, traveling, and dine-outs, you will be hard-pressed to find an activity that doesn’t have any digital imitation or assistance. Saving money is an essential task that requires strict and level-headed handling. Savings provide support for the uncertainties in life and give you a feeling of security. Here is where money-saving apps come into play, they provide you with strategies and actions that assist in saving money. These apps give you personalized actions and suggestions according to your preference and financial requirements.
They also help in making a strategy to pay back all your debts and lower your expenses, which ultimately helps you save money in the long term. Here, we have mentioned the ten best money-saving apps. Now, you may choose among these.
10 Best Money Saving Apps
If you need assistance in making your budget, managing your debts, and saving money, you can take help from some of the savings apps that we mention, and select the one that meets your requirements. Some of them are free to use while others charge some fees. Here is a detailed review of all the best money-saving apps:
1. Acorns
Acorns were launched in 2014 with the basic model, where you invest your spare change. Now, it has 10 million users and is known as the “original round-up app”. Basically, the app rounds up what you have spent to the nearest dollar, and the difference is added to the Acorns investment account. Now, the money saved in this account is automatically invested in some EFTs, which are recommended depending on your financial profile. With this, you can save money while shopping, making this a great savings app.
Acorn provides 2 tiers of accounts, which charge two different subscription fees. The first one is Acorn Personal, which provides financial assistance for a single person and charges $3/month. It provides investment, retirement, checking, bonus investments, education, and more.
The second one is the Acorn Family, which costs $5/month and provides investment accounts for unlimited kids per family and all the features which Acorn personal has. This app has an Acorns earn program, which gives you more than 15,000 offers to choose from well-known brands. This app is among the best money-saving apps by many users. Acorns include a library of videos based on financial learning. This provides necessary education to its users on debt management, budgeting, saving money, etc.
Features
- You can earn while shopping.
- This app rounds up your spending to the nearest dollar, and the difference is added to the Acorns investment account.
- Acorn provides 2 tiers of account options.
- The first one is Acorn personnel, which provides financial assistance for a single person and charges $3/month.
- The second one is the Acorn family, which costs $5/month and provides investment accounts for unlimited kids per family, and all the features which Acorn personal offers.
- The app includes a library of videos based on financial learning. This provides necessary education to its users on debt management, budgeting, saving money, and other topics as well.
Pros
- This app has an Acorns earn program, giving you more than 15,000 offers from well-known brands.
- The app includes a library of videos based on financial learning.
- Yours is automatically invested in some EFTs, making this app an all-rounder money-saving app.
Cons
- As investments do not guarantee profit so you can face a loss in which you may lose money.
- It may take some time to retrieve money in case of emergencies. You have to first sell stocks and retrieve your money.
2. Qapital
This money saving app allows you to set your goal and then save money toward the goal. So, after signing up you can set an amount that will save every month toward that goal. It offers a 30-day free trial, then follows a paid membership model. The charges are $3, $6, and $12 depending on the plan you select. You can apply for a Qapital debit card and create an FDIC-insured checking account, which earns a 0.05% annual percentage yield (APY). With every purchase with your Qapital card, the app rounds up and saves the difference toward your saving goal. There are no other fees, but there may be some ATM fees.
When you have to withdraw money from the app all you have to do is send the money back to your checking account and then withdraw it out, you can even spend through the Qapital debit card directly. This savings app also provides a Qapital invest feature, which provides you with a platform for buying stocks and bonds starting from $10 (min).
Features
- Upon signing you will have to set a goal and set a certain amount of money that will be saved toward this goal every month.
- It offers a 30-day free trial, then follows a paid membership model.
- The charges are $3,$6, and $12 depending on the plan you select.
- You can create an FDIC-insured checking account, earning a 0.05% annual yield (APY).
- You can apply for a Qapital debit card and with every purchase with your Qapital card, the app rounds up and saves the difference toward your saving goal.
- This app also provides a Qapital invest feature, which provides you with a platform for buying stocks and bonds starting from $10 (min).
Pros
- You can create an FDIC-insured checking account, earning a 0.05% annual yield (APY).
- It offers a 30-day free trial.
- You can retrieve money whenever you want without any hassle.
Cons
- The paid membership costs are high.
- There are ATM card fees that may be charged.
3. Digit
Digit is a far more personalized savings app that helps you save money. With the help of AI, it tracks your spending and income. The app transfers some money from the checking account to the digit account when it predicts that you can afford it. You have the facility to set your spending goal for a loan or for purchasing something etc. The app will assist you with budgeting for these goals. Upon saving for three consecutive months, you get a reward of 0.10% on the annual savings of your Fidic-insured digit account. Digit reimburses users for overdraft fees for 4 months, caused by Digit saving per month. Lastly, the first 6 months are free of cost for any new user, after that the app charges $5/month for using it. You should consider other apps to save money if you have fewer funds to spare.
Features
- With the help of AI, it tracks your spending and income.
- The app transfers some money from the checking account to the digit account when it predicts that you can afford it.
- You have the facility to set your spending goal.
- The app will assist you with budgeting for these goals.
- Upon saving for three consecutive months, you get a reward of 0.10% on the annual savings.
- The app charges $5/month after the free trial period.
Pros
- The app provides assistance with budgeting for the goals you set.
- Digit reimburses users for overdraft fees for 4 months, caused by Digit saving per month.
- The first 6 months are free of cost for any new user.
Cons
- The charge for using the app is pretty expensive.
- You cannot set a limit on how much money will be transferred to the Digit account.
4. Mint
This app is one of the most popular apps that help save money. It monitors and analyzes all your accounts, and the loans attached to them, to give you personalized strategies to pay them back and save money. The mint savings app interface is user-friendly, and it gives clear information about your financial behavior. The app provides you with a notification of bills or subscription fees that you have to pay, a perfect feature for beginners. It is free of cost which makes it among the best money saving apps for beginners.
Features
- It is free of cost.
- It monitors and analyzes all the bank accounts that you have linked.
- The app provides you with a notification of bills or subscription fees that you have to pay.
- The app provides you with personalized strategies to deal with loans and expenses and save money.
- You get clear information about financial activities.
Pros
- The app provides personalized strategies to deal with loans and expenses and save money.
- It is free of cost.
- The app provides you with a notification of bills or subscription fees that you have to pay.
Cons
- The app contains ADs.
- It does not provide any platform for investing your money.
5. YNAB (You Need a Budget)
YNAB is easy to use, it focuses mainly on shopping and other kinds of spending. The app even keeps track of your spending and provides real-time information about spending activity. There is a fee for using it; the app charges $14.99 monthly and $99 annually. After signing in, you have to allot a budget for each category that you will spend money on, the app helps you in achieving the budget you set. You can even link loans and debts of your other account to your budget. According to a report published by YNAB, people using this app have saved $600 on average in 2 months and $6000 annually. Making it the best money-saving app for budgeting. This app is best for someone who wants help in creating a budget and following it.
Features
- The app even keeps a track of your spending and provides real-time information about spending activity.
- It provides 34 days of free trial after that, There is a fee for using it, the app charges $14.99 monthly and $99 annually.
- This app is very easy to use, it focuses mainly on shopping and other kinds of spending.
- After signing in you have to allot a budget for each category that you will spend money on, the app helps you in achieving the budget you set.
- You can even link loans and debts of your other account to your budget.
Pros
- You can create a budget and this app helps in achieving it.
- People using this app have saved $600 on average in 2 months and $6000 annually.
- It provides a 34-day free trial.
Cons
- The fee is quite high compared to other best money saving apps.
- There are no investment options.
6. Chime
Chime is used by millions of users across the states. It was launched in 2014 as a money saving app. You can set a certain % of the money that chime will transfer from your income to your chime account for savings or you can directly deposit your income to your Chime account. The annual percentage yield (APY) on your Chime savings account is high compared to other saving money apps in the country. It does not hold your bank deposits as it is not a bank, your bank deposits are held by FDIC-approved partner banks such as The stride bank and Bancorp Bank. The app has high ratings on the google play store and Apple app store.
Features
- You can set a certain % of the money that chime will transfer from your income to your chime account for savings or you can directly deposit your income to your Chime account.
- The annual percentage yield (APY) on your Chime savings account is high compared to other apps in the country.
- Your bank deposits are held by FDIC-approved partner banks such as The stride bank.
- It is free of cost.
- Chime is used by millions of users across the states.
- The app also has round-up features.
Pros
- The app has high ratings on the google play store and Apple app store.
- The annual percentage yield (APY) on your Chime savings account is high compared to other apps in the country.
- It is free of cost.
Cons
- It does not provide any platform for investments.
- There are no branches for in-person assistance.
7. Clarity Money
This app was launched in 2017, and after its huge success within 1.5 years, it was acquired by Goldman Sachs. This app helps in canceling your unnecessary subscriptions and tracks your spending and tries to reduce it. According to a BusinessWire press release, users of Clarity money have saved $300 on average annually. It is free to use.
Clarity Money app provides a savings account that has a high annual percentage yield (APY) through Marcus, the parent company. This savings account does not charge any fee and has no limit of minimum balance. It has a dedicated support team that helps users with all technical issues, making it one of the best money-saving apps. Clarity Money has a huge network of lenders who can provide you with loans for low interest, including 2000-dollar fast cash options.
Features
- This app helps in canceling your unnecessary subscriptions and tracks your spending and tries to reduce it.
- It is free to use.
- This app provides a savings account that has a high annual percentage yield (APY) through Marcus by the parent company.
- The saving account does not charge any type of fee and has no limit of minimum balance.
- It has a dedicated support team that helps users with any technical issues.
- Clarity Money has a network of big lenders that can provide you with loans for low interest.
Pros
- Clarity Money has a network of big lenders that can provide you with loans for low interest.
- It can reduce your spending and save you money up to $300 annually
- The savings account provides a high annual percentage yield (APY).
Cons
- It does not provide investment opportunities.
- There is no customizable option in the case of budgeting.
8. Qoins
This app focuses on clearing debts and saving money. Qoins automatically saves money for debt and saving money, this feature allows you to pay the debt quickly and save on interest. It has a round-up feature as well, where it rounds up your daily transaction to the nearest dollar and the difference is added to the Qoins balance account. You can set a certain sum of money, ranging from $0.50 to $1 (least aggressive), $1.50 to $3 (Moderately aggressive), and $3 to $5 (very aggressive) per day basis for your savings account. The app charges a monthly fee of $2.99 per goal or $4.99 for unlimited goals. The app has high ratings on the google play store and Apple app store and is considered one of the best money saving apps.
Features
- Qoins automatically saves money for debt and saving money.
- It has a round-up feature as well, where it rounds up your daily transaction to the nearest dollar and the difference is added to the Qoins balance account.
- You can set an amount of money per day, ranging from $0.50 to $1(least aggressive), $1.50 to $3 (Moderately aggressive), and $3 to $5 (very aggressive) on the basis of your savings account.
- The app charges a monthly fee of $2.99 per goal or $4.99 for unlimited goals.
- The app has high ratings on the google play store and Apple app store.
Pros
- By using this app you can pay all your debts quickly as it automatically saves money for clearing the debts.
- It has a round-up feature.
- The app has high ratings in app stores.
Cons
- The charge for using this app is expensive.
- There is no debt pay-off planning.
9. Customer One Shopping
It is the best cash app borrow cards for shopaholics. This helps you in finding promo codes for purchases, and comparing prices from various marketplaces, saving you a lot of time and money. It is absolutely free of use. When you use Customer One Shopping app while purchasing a product, it automatically applies the available code, this saves you a lot of time in searching for a genuine code.
The app helps you compare the prices of products from various marketplaces, so you do not have to open multiple tabs to check prices. In addition to these amazing features, the app provides cash-back rewards, such as 2% on Walmart products, 7% on Microsoft products, etc. You can gain shopping credit by spending money with your linked card; these credits can then be redeemed as gift cards from various shops. It is a one-stop app for checking price drops and getting exciting deals; you even get notifications when the price drops for the products saved in your watchlist.
Features
- The app helps you in comparing the prices of products from various marketplaces.
- The app provides cash-back rewards, such as 2% in Walmart, 7% in Microsoft, etc.
- You can gain shopping credit by spending money with your linked card, now these credits can be redeemed as gift cards for various shops.
- It is a one-stop app for checking price drops and for exciting deals, you get a notification when the price drops for the products saved in the watchlist.
Pros
- The app helps you in comparing the prices of products from various marketplaces.
- It is absolutely free of use.
- When you use the Customer One Shopping app while purchasing a product it automatically applies the available code.
Cons
- You will need a U.S. shipping address to use Capital One Shopping Credits.
- There are no investment options.
10. PocketGuard
This is a customizable budgeting app that has high ratings on the Google play store and Apple app store. The app provides you with detailed information about your spending in well-structured pie, and bar charts. To get this information you have to link your credit/debit card to the app. You can even set financial goals. It is safe and secure to use this app, the app follows 256-bit SSL encryption, which is used by many financial institutes. The pocket guard app has biometrics and PIN Code features as well to protect privacy.
PocketGuard follows free as well as paid membership models. The free membership gives access to only one financial goal, whereas with a paid membership, you can have unlimited goals. The paid membership is also known as PocketGuard Plus, the charges for which are $7.99 a month, $79.99 a year, and $99.99 for a lifetime. This app has a feature that projects the amount of money that will be left after spending on bills and financial goals, this feature is known as IMP (In My Pocket).
Features
- The app provides you with detailed information about your spending in well-structured pie, and bar charts.
- You can even set financial goals.
- It is safe and secure to use this app, the app follows 256-bit SSL encryption, which is used by many financial institutes.
- The free membership gives access to only one financial goal, whereas with paid membership you can have unlimited goals.
- This app has a feature that will project the amount of money that will be left after spending, bills, and financial goals known as IMP (In My Pocket).
Pros
- A personalized budget for every user
- A huge number of banks can be linked to this app.
- This app is secure to use.
Cons
- The paid membership price is expensive.
- The website is not user-friendly.
Various Categories of Money Saving Apps
Well, saving money is not only bound to budgeting. There are various types of apps that help save money.
1. Budgeting Apps
These kinds of Apps help save money by creating a budget and following it. They track your spending and provide information on your expenses in a well-structured manner. You can set a budget for multiple categories where you may spend money. In this article, we have covered most of the popular budgeting apps. Some of the budgeting apps to help save money :
- Qapital
- Mint
- Clarity Money
- YNAB (You Need a Budget)
- Rocket Money
2. Cash Back Apps
As the name suggests, by using these apps while spending you can earn cash-back rewards. Whenever you make a purchase using these apps you can get credit points or cash backs that you can redeem and get gif cards or earn cash backs. Some of the Cash back apps include:
- Drop
- Ibotta
- Mypoints
- Dosh
3. Coupon Apps
Apps that help you find genuine coupons while purchasing any product come under this category. This kind of app helps you save a lot of time and effort in searching for a coupon. Some of the apps apply coupons automatically getting you the best deals. The most popular app in this category is the Capital One Shopping app, we have rewired the app in the above list of the best money-saving apps.
4. Savings App
The savings app automatically transfers money from your checking account to your savings account on a monthly basis. You can set a certain amount or percentage that you can train to your savings. These are very helpful. Some of the apps are:
- Chime app
- Digit ap
5. Investing Apps
The apps that fall under this type allow users to invest money that they have saved. Some apps have a round-up feature that rounds up your expenditure to the nearest dollar. The difference is there in an investment account. The app provides a platform to buy Stocks and Bonds. Some of the Investment Apps Include:
- Acorns
- Stash
- Robinhood
- Betterment
6. Money Management Apps
These kinds of apps help you manage debt and help in loan repayments. Some apps have the feature to automatically set aside a portion of money from your income on a monthly basis, to clear out your debts. Some of the popular Money Management Apps include:
- Qoins
- Tally
- Debt Free
Do Money Saving Apps Actually Save Money?
Yes, Money saving apps that help you save money actually work. Now, it depends on you, the kind of apps you download, and how you use those apps. Budgeting apps help you create a budget and follow it. They track your spending and provide information on your expenses in a well-structured manner. You can set a budget for multiple categories where you may spend money. With the help of this information, you can make an informed decision while spending money.
Now, saving money is an important thing to do. Savings provide support for all the uncertainties in life and give us a feeling of security. Here is how saving money apps help you. They provide you with strategies and actions that assist you in saving money. These apps give you personalized sets of actions and suggestions, according to your preference and financial requirements. It helps in making a strategy to pay all your debts back and lower your expenses, which will eventually help you save money. This article mentions some of the best savings apps and their detailed reviews.
How to Use Money-Saving Apps?
A savings app provides you with a clear picture of your financial behavior. It chalks out your spending and expenses in a well-structured manner. You can set a budget for multiple categories where you spend money. It provides you with strategies and actions that assist you in saving money. These apps give you personalized sets of actions and suggestions according to your preference and financial requirements.
It helps in making a strategy to pay all your debts and lower your expenses which will help you save money and increase your credit score. There are various types of apps that help save money. It depends on you which kind of apps you download. Every savings app has a different model and it targets different users. We have provided some of the best money-saving apps with detailed reviews, go through them and then download the apps that help you save money.
How to Select the Best Money Saving Apps?
There is no app that will solve all your financial problems. There are 6 types of money-saving apps. We have mentioned the types above and provided apps for each type as well. Some apps can help you clear your debts, some can help you save money on a monthly basis. So, basically, you should analyze your situation and go through all the apps mentioned above, and then decide which one to download. Some of the apps are free to use and some provide free trial periods. If you want to clear out your debt faster, an app like Qoins could be your pick. If you want to automatically save extra money in your savings account then an app like Digit would be perfect. These are some apps that help save money.
Is There a Secure Savings App?
Generally, it is safe to use apps to save money. Some apps like Pocket Guard follow 256-bit SSL encryption, which is used by many financial institutes. These apps have a biometric scan and PIN Code features as well to protect privacy. Apps that do not hold your bank deposit as technically they are not banks. These apps that help you save money have millions of users and high ratings in the Google play store and Apple app store.
FAQs
Q1. Is there an app that automatically saves money?
Yes, there are savings apps that automatically save money, you have to set a certain amount or percentage of money which will be transferred to your savings account monthly. Some of them include the Chime app, Digit app, etc.
Q2. What is the best free round-up app?
There is no free round-up app. However, Acorns is one of the best round-up apps that help save money. The app rounds up your spending to the nearest dollar and the difference is added to the Acorns investment account. Now, the money saved in this account is then automatically invested in some EFTs.
Q3. What is the best app to help save money?
There is no savings app that will solve all your financial problems. You should analyze your financial situation and then decide which apps that help you save money. If you want to clear out your debt faster, an app like Qoins could be your pick. If you want to automatically transfer extra money to your savings account then an app like Digit would be perfect.
Conclusion
Budgeting wisely is an essential part of saving money. Savings provide a sense of independence and stability in the face of uncertainties and give us economic security during stressful moments, be it medical, personal, or anything else. That is why the best money saving apps are one of the most convenient finds of this decade. They embody the spirit of digitization and make financing and accounting truly fast and easy.
Now that you have gone through our list, you are informed enough to make a smart decision. However, never overlook the importance of doing your own research, talking to the right people, and using customer experience as parameters to cross-check your choice before finalizing it.
