7 Apps That Could Help You Save Money Without Even Trying

Developers have created apps to cover virtually every aspect of our daily lives, and our finances are no exception. While many apps cost users dearly with in-app purchases and hefty subscription fees, some have actually been created to save you money. In this article, we share a selection of savings apps available to download today.

1. You Need a Budget

You Need a Budget (YNAB) is a simple-to-navigate budget app that operates by four simple rules:

• Live on last month’s income.
• Save for a rainy day.
• Roll with the punches.
• Give every dollar a job.

The app helps users to manage their money better, enabling them to check transactions and budgetary restrictions 24/7. For those attempting to get a better grasp of their financial situation, YNAB is an incredibly useful tool to help them turn their finances around.

2. Qapital

For $3 a month, Qapital enables customers to automate their savings, round up spending from linked accounts to the nearest dollar, and then place the excess in a goal account held at an FDIC-insured partner bank. Alternatively, customers can opt to contribute a fixed percentage to their fund on a regular basis.

Although Qapital’s 0.10% interest rate is on the low side for an online savings account, it compares well with the rate offered by most checking accounts. The platform also offers premium membership for an additional fee, enabling members to set rules to automate investing.

3. Clarity Money

Clarity Money helps members to organize their income and expenditures, breaking down spending into categories so that users can track transactions via their mobile phone. With a dashboard displaying cash on hand, recent spending, and outstanding debt, Clarity Money enables members to see at a glance whether they are on track with their spending and saving.

For those with numerous subscriptions, Clarity Money makes cancellations a breeze, enabling users to save money without trying too hard. Available on Android and iOS, this all-in-one budgeting app is available free of charge.

4. Digit

Also offering a 0.10% annual savings bonus, Digit analyzes income and spending patterns in a linked bank account to let users know what they can realistically afford to set aside, placing savings in an FDIC-insured account. The platform does currently offer a 30-day free trial, following which there is a $5 dollar-a-month subscription fee.

The 0.10% savings bonus is paid every 90 days based on the average daily balance kept in the user’s account throughout that period. Although members can pause Digit transfers and set balance limits, they do not directly control the precise amount Digit transfers each day. It is therefore important for users to monitor their balance and upcoming transfers.

5. Dobot

This easy-to-use app makes saving money a breeze. After the user has linked their checking account, Dobot starts automatically transferring small amounts to their savings account every few days, making it a great option for those seeking a free platform to help them start saving for the things they care about most.

Dobot users can link a checking account with any bank. Savings deposits are held at Fifth Third Bank, Dobot’s owner. One of the app’s standout features are its visuals, incentivizing users by reminding them what they are saving for every time they log on, helping them to pass up the instant gratification of splurging, instead prioritizing long-term savings goals.

6. Long Game

Americans continue to spend an inordinate amount on lottery tickets each week, but in reality the odds of winning are infinitesimal. Over the years, a few bucks here and there can mount up to staggering sums. Long Game redirects money spent on lottery tickets, turning it into savings.

Users who save via the app still get an opportunity to win extra money through prize-linked savings. The more they save, the more opportunities they have to play games and win more cash. Insured by the FDIC, Long Game presents the opportunity to win extra money without jeopardizing principal or deposits. The app essentially makes savings fun, conferring the thrill of a lottery without the risk. Best of all, it is free.

7. SmartyPig

SmartyPig takes the concept of the piggy bank to the next level, presenting a free online savings platform that empowers users to plan for the future and save for their financial goals.

When a new member signs up with the app, they link their external checking account and set their savings goal. All they need to do then is sit back, and let SmartyPig do the rest, checking their progress via the app.

Members can make one-off payments whenever they want, or set up recurring payments. If they do opt for recurring payments, they must deposit at least $10. With an annual percentage yield of up to 0.70% in 2021, SmartyPig offers a higher-than-average interest rate compared with most savings accounts. Available for download on Android and iOS, SmartyPig’s new mobile app enables users to access their savings 24/7, enabling them to create new goals, transfer funds, and set up recurring deposits.