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The best money savings apps in the US
These automatic savings apps are built to make saving easier — even if it’s the last thing on your mind.
Between bills, loans and everyday purchases, life can get expensive. But thanks to technology, we have access to a range of money saving apps built to help us cut down on costs, sweep our spare change into savings and help us invest.
To narrow down our list best money saving apps for today’s savers, we considered key factors like how much it costs, how easy it is to use, how quickly it helps you grow your savings and the extent of its capabilities. That meant digging into account details like interest rates, fees, account features, compatibility, terms and conditions to bring you our best list.
Best round-up apps for saving money
Qapital
With Qapital, you determine when your purchases get rounded up. For example, you can ask the app to make a deposit every time you dine out or visit the gym. Once you set your goals and rules, sit back as the app rounds up change from your purchases to the nearest dollar and moves it to your savings accounts.
Compatibility:iOS 11.0 or later and Android 5.0 and up
Monthly fee: $3, $6 or $12
Service fee: $0
Acorns
Acorns is a micro-investing app that allows you to invest your spare change into a personalized investment portfolio. Once you connect your credit card, Acorns will round up your purchases and send the leftovers to your investments.Compatibility: iOS 11.0 or later and Android
Monthly fee: $1, $2 or $3
Service fee: $0
Digit
Digit is a micro-savings app designed to help you to save money you won’t miss. Once it’s connected to your checking account, its algorithms start learning your financial habits and calculating how much you can afford to save. Then, it strategically transfers money into savings.Compatibility: iOS 9.0 or later and Android 4.1 and up
Monthly fee: $5
Service fee: $0
Best apps for investment
Stash Invest
With Stash Invest, you can start saving for your future with as little as $0.01. The app starts by asking you a series of questions to gauge your investing experience. Then, it suggests certain stocks and ETFs based on your answers.
Compatibility: iOS 11.0 or later and Android 5.0 and up.
Monthly fee: $1, $3 or $9
Service fee: $0
Robinhood
Robinhood is a stock and options trading platform built for new and experienced traders alike. It has zero commissions. But stock prices are known to lag within the app, so it’s not ideal for active day traders.Compatibility: iOS 11.0 or later and Android
Monthly fee: $0 or $5
Service fee: $0
Best apps for budgeting
Simple
Simple is an online bank account with built-in tools to help you budget and save. As you deposit money into your account, you divvy it up between recurring expenses and savings goals. Then, you can confidently spend the rest knowing your necessities are taken care of.Compatibility: iOS 11.0 or later and Android
Monthly fee: $0
Service fee: $0
Mint
Mint is a free budgeting app that helps you track and manage your expenses, create budgets and monitor your credit. It’s free to use, but customers complain of occasional technical glitches.Compatibility: iOS 10.0 or later and Android 5.0 and up
Monthly fee: $0
Service fee: $0
Clarity Money
Clarity Money by Goldman Sachs helps you track your spending, negotiate bills and save money for long-term goals. It’s free to use, but you’ll pay a fee equal to 33% of your savings if the app successfully negotiates a bill for you.Compatibility: iOS 11.0 or later and Android 5.0 and up
Monthly fee: $0
Service fee: 33%
Is a money savings app best for me?
Here’s how to determine if a money savings app is right for you:
- You want to automate your finances. Money savings apps leverage technology to complete a range of financial tasks for you — from cutting down expenses to automating your savings. If you want to automate your finances, a money savings app can help you do it.
- You want a clear snapshot of your financial picture. Money savings apps are chock-full of data that help you analyze your income and expenses, track your savings and more as you work toward your financial goals, which makes them a handy tool if you want a clear snapshot of your current financial situation.
- You don’t know where to start. Whether you want to save, invest or budget, a money savings app can help you take the first step. In most cases, all you do is enter some basic information and the app’s algorithm does most of the legwork for you.
Money savings app alternatives
If your goal is to save, invest or budget, but you’re thinking a money savings app isn’t for you, here are some alternatives to consider:
- Savings accounts. Many banks have savings tools that allow you to set up recurring transfers and even round up debit card purchases and sweep the spare change into a high-yield savings account.
- CDs. If you already have a chunk of money you won’t need for a while, consider putting it in a high-yield CD where it can earn interest while you wait to use it.
- Investing accounts. If you’re looking to grow your savings in the stock market, you may be ready to upgrade to a full-blown investment account.
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Bottom line
Many of us have a long list of monthly expenses. With so many payments to keep track of, it can be hard to save. These apps were designed to automate the savings process and put money aside – with little to no effort on your part.
To get serious about managing your money, compare the latest budgeting software options.
Compare saving apps
Use the tabs in the table to view top apps for savings, budgeting and investing. If you’ve got your eye on a few different accounts, you can click the “Compare” box next to each one to view them side-by-side.
