If saving money is a tricky task for you, leave it to technology to save the day. Some of the best money saving apps on the market automate your savings, letting you see the savings start to pile up.
If you haven’t heard about these best budgeting apps, it’s never too late to learn about these money-saving apps. Money saving apps are some of the most downloaded apps on both iPhone and Android, hinting at a collective desire of young people to make smart financial decisions. If you’re struggling to save money and looking for the easiest way to budget, look no further than this list of the best savings apps available.
The Digit app is arguably one of the best savings apps out there for its automated features. The app literally saves the money for you. In fact, it uses an algorithm to study your income, analyze your spending habits and adjust the amount of money it moves into a savings account.
Saving money has never been easier! It deposits money from your checking account into an FDIC-insured savings account, so you don’t have to. The Digit app is like having a personal financial planner in your pocket. You can adjust the amount of money it moves over into a savings account, but the idea behind the app is to make saving money completely hassle-free.
Digit is free to download and does not charge any fees. After signing up and setting up a savings account, you can communicate with the app in chat boxes. You can even communicate with the app via iMessage if you don’t feel like opening the app.
The Mint app is another incredible savings tool that helps you track your spending, pay your bills and save money. Unlike Digit, Mint truly is an all-in-one budgeting device, detailing transactions in bank accounts and credit cards. Mint allows you to create a budget and view suggestions based on your income and spending habits.
Money saving websites are often accompanied by mobile apps, just like Mint. However, some users prefer using the website for a larger and more thorough money-saving experience. Large, color-coded graphs that display your deposits and withdrawals are a bit easier to see on a laptop or tablet.
The benefit of using the Mint app is taking your finances with you wherever you go. Receive mobile alerts when a payment is coming up, so you never miss a due date. You can even manually enter cash payments on the spot, so you don’t forget by the time you get home.
The Wally app is one of the best budgeting apps for ease of use. On a single display screen, you can see your monthly income, total monthly expenses, upcoming bills, such as mortgage and auto loan payments, and a remaining balance. It relies on your own input, but as long as you keep the app updated, it can help set savings goals to stick to.
Wally is best for individuals who are interested in tracking expenses and income. Unlike some other savings apps, it does not automatically set money aside into a separate account. However, it does make it easy to see daily expenses in a color-coded pie chart.
Goodbudget utilizes the age-old envelope savings method to set money aside for specific expenses. Rather than envelopes, however, the app keeps the money separated into digital folders. You can determine the labels for each folder and designate a certain amount for each one.
The best money savings apps let you share your goals and budgets with those who matter, and Goodbudget is no different. You can create your own budget and sync it with your mobile device and desktop. Then, you can share it with family and friends to share savings goals.
Goodbudget is free to download and offers a free basic plan, which includes 10 envelopes, one account, a license to use the app on two devices and a one-year browsing history. Those who want a bit more can opt for the Plus package, which costs $50 per year. The Plus package comes with unlimited envelopes, unlimited accounts, five devices and seven years of history.
Visual learners will love Pocketguard, another type of money saving app that separates expenses into clean, easy-to-see graphs. The home page is color-coded by account, so you can quickly glance at your finances.
Pocketguard automatically categorizes each expense to show you where your money is being spent. You may not realize that half of your money goes toward food, but after viewing the pie chart, you can’t un-see it.
The “in my pocket” feature lets you see how much money you have left after paying all your debts and bills for the week. Using this tool, you can easily set money aside into a savings account or move it into another tab to be used elsewhere.
Pocketguard does not have a separate savings account that you can use, like other apps. However, you can use the app to assist you in moving money over manually. Using the app’s features and suggestions, you can avoid getting overdrawn or moving too much into your savings account.
Money saving websites like EveryDollar are just as popular as mobile apps. While this site does offer a downloadable app, the web budget tool is extremely popular. If you prefer using both, don’t worry. The website syncs with the mobile app to keep you up to date.
After signing up for the free personal budget software, simply add your income to calculate your deposits. Then, customize the expense template to allot a certain amount of money for each category. For example, you can determine how much money you are willing to spend on gas, groceries, utilities and fun.
The basic website is free, but EveryDollar does offer a Plus package. With the Plus package, you can connect your bank account to the app and the website to automatically load your transactions. It’s a hassle-free way to track spending so you never forget to input an expense.