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Setting up a budget for yourself and trying to save can be very overwhelming. However, if you have a smart phone or a tablet, it has never been easier! You can download the following apps to help you automatically save money without even having to think about it.
This app automatically puts money away for you and allows you to invest it! You can link it to all of your different accounts including checking, savings, and even your PayPal account. When you purchase a coffee for $3.17, it will automatically put the other $.87 away. Your purchases will always be rounded up in this way. Once you have reached a minimum $5, you have the option of investing it in one of five different investment portfolios with help from firms such as Vanguard. You do have the possibility of withdrawing money from your Acorns investment account at any time if you find it is not working for you, but it is an excellent introduction to investing for beginners. This app is similar to Bank of America’s Keep the Change program which rounds up your purchases and saves the change.
This app is set up so that it forces you to pay yourself first, which is a great way to save money and budget appropriately. After you receive each paycheck, money will be automatically sent from your checking account to your Rize account, which functions as a savings account. It will send you a notification each time this happens and also make financial recommendations and goals for you.
Daily Budget makes saving money simple. It creates a regular budget for you after analyzing both your income and all of your expenses. You can also input what percentage of your income you want to put towards your savings, and the app will factor that in and divide it down to the day. This is a great app for you if you want to know exactly how much you should be spending and saving each day.
Digit simplifies the act of saving money by doing all the calculations for you! This app has an algorithm that determines how much money should be sent to your Digit savings account every few days based on your income and your spending habits. Digit will even pay your overdraft fees if a transfer to their savings account causes an account overdraw. You can request money from your Digit account, and it will typically be available by the next day.
This is another daily budget app that will let you know exactly how much cash you have available based on an analysis of your checking and savings accounts, as well as your spending habits. If there is not enough money in your account to compensate for the way that you are spending money, the Level app will let you know with an asterisk next to the projected amount.
Do you use any other great apps to help you save?