Many of us have every intention to save money and have quite possibly started sacrificing a few things we enjoy to cut pennies. For example, not buying that latte for a month, sacrificing our nails/hair (no salon visits), cooking more at home instead of the Taco Bell or Burger King drive-thru visits after work, and even reading instead of theater visits twice per week.
The sacrificing only works when you have something to sacrifice, and unfortunately many don’t have enough resources to get by, hence nothing available to sacrifice. I have discovered a few apps/platforms that help penny pinchers (me included) save money where they normally wouldn’t.
I’m aware there are many more available, but I compared maintenance rates and other operational fees to create this list. I will be trying a few of these soon, I hope you will too! Happy Saving!
1. Digit —
A platform that helps users save money without really thinking about it. Signing up is free. Digit calculates the perfect amount of money to set aside every day — based on your income and spending — and automatically saves it for you. Most days it’ll feel invisible, but it won’t take long to feel like the future you’re working toward is within reach.
- 1% annual cash back on your Digit savings, paid every 3 months
- Withdraw as often as you like, at no charge, with no account minimums
- Funds are FDIC-insured and protected by 128-bit bank-level encryption
The platform is fee for the first 100 days and just $2.99/month there after. They have an app available on iTunes and Google Play.
2. RizeMoney —
A platform that allows users to save and to invest their savings. Use goals to organize and track your finances all in one place. Make saving a habit by putting your savings on autopilot. For larger goals, maximize your savings by investing. Minimum of $2/month required.
Build a personalized portfolio that reflects you. Start with only $5. “We’ll help you pick an investment strategy that reflects your interests, beliefs, and goals.” Keep learning from tips and articles, so you can invest with confidence. From innovation to the environment, invest in what matters to you. With Stash, you can choose from over 40 ETFs that are carefully selected by our investment team based on historical performance, expense ratio, and risk profile. First 30 days is free and then pay just $1/month thereafter.
Say goodbye to ridiculous bank fees. Save money automatically. Manage your money from anywhere. When you bank with Chime, you get a Chime Visa Debit Card, a Spending Account, and an optional Savings Account – all managed through a beautifully designed mobile banking app. Set up Direct Deposit and receive your paycheck up to 2 days earlier than your co-workers! No overdraft. No minimum balance. No monthly service fees. No foreign transaction fees. No transfer fees. Over 30,000 fee-free MoneyPass ATMs. Reach your goals faster by saving money automatically. Our Automatic Savings features help you save money any time you spend or get paid.
Save $20 a month and receive another $10. Sign up is free. Join SaverLife today to kick start your savings! You’ll receive weekly savings tips from a financial coach to help you start saving right away. And for every month that you save at least $20, we’ll match your savings with $10. Over the next six months, you can earn up to $60 just for saving your own money! You will have to connect a bank account.
SmartyPig is a free online piggy bank for people saving for financial goals like holiday gifts, vacations, and even retirement, with rates up to 1.30% APY1 to help you reach your savings goals faster. It’s easy! You decide how much and how often you want to contribute and SmartyPig does the rest, from monthly contributions to direct deposit from your paycheck.
EvoShare turns daily contributions into increased retirement contributions. Fund your financial goals with your everyday purchases. Our answer is to save, but spending habits are not easy to change. Why not save while you spend? EvoShare is the only solution converting cash-back rewards into retirement contributions.
8. Marcus (Goldman Sachs)
Don’t just store money. Make money. Earn more interest than the national average with a high-yield Online Savings Account. We also offer high-yield Certificates of Deposit – all benefiting from the history and expertise of Goldman Sachs. No minimum deposit required to open. $1 required to receive the yearly APY (1.50).
From your morning coffee to last night’s Uber, round up your everyday purchases to the nearest pound and invest the change. With just $1, you can invest in companies such as Netflix, Unilever and Disney via three tracker funds. Securely connect a spending card. It’s quick, easy and you will only need to do this once. Round up the spare change from your everyday purchases to the nearest pound. Invest in thousands of global companies via simple tracker funds.