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These are 6 “set-it-and-forget-it” apps that save your money automatically.
The cornerstone of financial planning is money saving. (Freepik/Representative Image)
Saving money can be tough, especially with daily expenses and unexpected bills. Automating your savings takes the stress out of the process by regularly setting aside money without requiring manual effort. It promotes financial discipline, ensures steady progress toward your goals, and reduces the temptation to spend impulsively.
Whether you’re building an emergency fund, planning a vacation, or growing long-term wealth, automation makes saving effortless. It also allows you to benefit from compound interest by starting early and saving consistently.
With the right tools and apps, saving becomes a seamless background task quietly working toward your financial future while you focus on living your life.
Here are the top 5 apps to automate your savings:
Acorns:
Perfect for beginner investors, Acorns rounds up your everyday purchases and invests the spare change. While not exactly a savings app, it automates micro-investments, which can grow significantly over time. It’s ideal for those who want to combine saving and investing without thinking about it.
Digit (now owned by Oportun):
Digit analyses your income and spending habits, then automatically transfers small, safe amounts from your checking account to savings. It intelligently adapts to your cash flow, so the transfers are hardly noticeable, but the growing savings balance is. You can also set custom goals, such as saving for a vacation, paying off debt, or building a rainy-day fund.
Qapital:
Qapital helps you save by linking your spending to savings rules. It’s great for those who like goal-based saving and want their financial plan to align with personal behaviours.
Chime:
Chime is a mobile banking app that rounds up transactions and automatically transfers the difference to a savings account. It also offers a feature to save a percentage of your paycheck automatically. With no monthly fees and early direct deposit, it’s a great all-in-one digital banking tool.
Truebill (now Rocket Money):
Originally designed for managing subscriptions, Rocket Money also helps users set savings goals and automate transfers. You can customise amounts and schedules, making it ideal for those who want more control. It’s also helpful for tracking expenses and identifying ways to save more.
Goodbudget:
Goodbudget is a household budgeting app built on the traditional envelope budgeting method, where you allocate portions of your income into virtual “envelopes” designated for specific categories like groceries, rent or loan payments. Available in both free and paid versions, the app helps users effectively plan and manage monthly expenses. While it excels at organising budgets and tracking spending, Goodbudget lacks built-in tools for saving or investing, limiting its functionality to budgeting alone.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
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