In today’s fast-paced world, managing finances effectively has become more important than ever. From everyday spending to setting up long-term financial goals, it can feel overwhelming. I’ve found that using the right apps can make a significant difference in how I manage my money. Whether you want to keep track of your daily expenses, save for a big purchase, or simply become more mindful of where your money goes, there are apps that can help. In this article, I’ll share 10 of the best apps to help you save money, along with some examples and comparisons to help you find the ones that work best for you.
Table of Contents
1. Mint
One of the most popular apps I use to manage my personal finances is Mint. It’s a free budgeting tool that connects to my bank account and credit cards to track spending and income. Mint automatically categorizes my expenses and shows me a clear breakdown of where my money goes each month. The app also allows me to set up monthly budgets and alerts me if I’m about to exceed them.
Key Features:
- Expense categorization: Automatically categorizes transactions.
- Budget tracking: Sets up customizable budgets for different categories.
- Bill reminders: Sends alerts for upcoming bills.
- Free credit score monitoring: Keeps me updated on my credit score.
How it Helps Me Save:
Mint helps me see my spending habits clearly. I can quickly identify areas where I’m overspending, and adjust accordingly. For example, if I see that I’ve spent more on dining out than I planned, I can make a conscious effort to cook at home more often. Mint’s budget tracking feature has helped me reduce my discretionary spending by around 15% over the past year.
2. Acorns
Acorns is an investing app that I use to save and invest small amounts of money. What sets it apart is its round-up feature. Whenever I make a purchase with my linked debit or credit card, Acorns rounds the amount up to the nearest dollar and invests that difference. For example, if I buy a coffee for $2.75, it will round it up to $3.00 and invest the $0.25.
Key Features:
- Round-ups: Automatically invests spare change.
- Personalized investment portfolios: Offers low-cost, diversified portfolios.
- Automatic recurring contributions: Lets me set up automatic savings.
- Found Money: Offers cashback from certain brands that goes directly into my investment account.
How it Helps Me Save:
Using Acorns, I save money without even thinking about it. The round-up feature adds up quickly. I’ve seen an extra $50 in my investment account just from my daily coffee runs and grocery trips. Over time, this can add up to a substantial sum without feeling like I’m actively saving.
3. Digit
Digit is an app that automates my savings by analyzing my spending habits. It looks at my bank account activity and transfers small amounts of money to my Digit account when it thinks I can afford it. It’s an easy way for me to save without thinking about it, and the best part is that I can set my savings goals and watch them grow.
Key Features:
- Automatic savings: Transfers money from checking to savings.
- Customizable goals: Allows me to set specific savings goals, like saving for a vacation.
- No fees for standard transfers: I can access my savings without penalty.
- Text alerts: Sends me updates on my savings progress.
How it Helps Me Save:
Digit has been particularly useful for saving for specific goals. For example, I set up a vacation fund, and over a few months, I’ve been able to save over $500 without actively transferring money myself. Digit analyzes my spending habits, and I barely notice the small transfers happening in the background.
4. You Need a Budget (YNAB)
YNAB is a budgeting app that I rely on for more detailed, hands-on budget management. It encourages a zero-based budget approach, meaning that every dollar I earn gets assigned a job. I make sure to give every dollar a purpose, whether it’s for savings, bills, or spending. This system has helped me feel more in control of my finances.
Key Features:
- Zero-based budgeting: Every dollar has a purpose.
- Goal tracking: Allows me to set financial goals, such as paying off debt or saving for a down payment.
- Real-time syncing: Syncs my bank accounts and credit cards for accurate budgeting.
- Educational resources: Offers video tutorials on budgeting strategies.
How it Helps Me Save:
YNAB helps me track every dollar and make sure it’s going toward something productive. It forces me to be mindful of my spending, and as a result, I’ve managed to pay off over $1,000 in credit card debt in just three months.
5. Chime
Chime is a mobile banking app that helps me save money through its automatic savings features. It offers a no-fee checking account and savings account, which is a huge plus. The best part about Chime is that it helps me save automatically by rounding up my purchases and transferring the change to a savings account.
Key Features:
- No fees: No monthly fees or overdraft fees.
- Automatic savings: Round-ups and automatic savings transfers.
- Early direct deposit: Get paid up to two days early.
- Fee-free ATMs: Access to over 24,000 fee-free ATMs.
How it Helps Me Save:
With Chime’s round-up feature, I’ve saved an extra $100 in the past few months without making any extra effort. It’s the small amounts that add up over time, and I’ve been able to use this money for unexpected expenses or add it to my long-term savings.
6. Simple
Simple is another app I use to manage my finances, especially when it comes to budgeting and saving. The app is known for its intuitive interface, and it provides me with a clear overview of my spending, savings goals, and account balances. Simple offers a “Goals” feature, which allows me to set up specific savings goals and track my progress.
Key Features:
- Goals: Set up personalized savings goals.
- Safe-to-Spend balance: Shows me how much I can spend without derailing my budget.
- Automatic savings: Automatically transfers money into my savings goals.
- No fees: No monthly fees, maintenance fees, or minimum balance requirements.
How it Helps Me Save:
I use Simple’s Goal feature to save for things like a new phone or a weekend getaway. It automatically deducts small amounts from my checking account and puts them in the appropriate savings goal. It’s an easy way to save without even thinking about it, and I’ve saved up over $200 for a new phone upgrade in just a few months.
7. Rakuten
If you love online shopping like I do, Rakuten is an app you’ll find invaluable. It offers cashback on purchases made through its platform from a variety of popular retailers. Every time I make an online purchase through Rakuten, I earn cashback that I can withdraw to my PayPal or bank account.
Key Features:
- Cashback offers: Earn cashback on online purchases.
- No fees: Signing up is free, and there are no fees for withdrawing cashback.
- Bonus offers: Sometimes there are special promotions for increased cashback.
- Wide retailer network: Partners with thousands of retailers, from Amazon to Walmart.
How it Helps Me Save:
Rakuten has saved me money on a variety of purchases, from clothing to household items. For example, I bought a $100 pair of shoes through Rakuten and earned $10 in cashback. That’s an instant 10% off the purchase, and it’s easy to redeem. Over the course of a year, I’ve earned over $150 in cashback by shopping through Rakuten.
8. Honey
Honey is another app I use to save money while shopping online. It automatically finds and applies coupon codes to my purchases, ensuring that I always get the best deal. Whenever I’m about to check out, Honey runs a quick scan of available coupons and applies the one that gives the best discount.
Key Features:
- Automatic coupon finding: Finds the best coupon codes for me.
- Price tracking: Tracks the prices of items and alerts me when there’s a price drop.
- Honey Gold: Earn points that I can redeem for gift cards.
How it Helps Me Save:
Honey has helped me save on multiple online orders by automatically applying the best coupon code. For instance, I purchased a $50 item and saved $8 by using a coupon from Honey. Over time, these savings add up.
9. Tally
Tally is an app that helps me manage credit card debt. It consolidates my credit card payments into a single payment, which helps me avoid late fees and interest charges. The app also offers a credit line to help me pay off high-interest credit cards more quickly.
Key Features:
- Credit card payment management: Consolidates payments into one monthly bill.
- Interest rate optimization: Offers lower-interest credit lines to pay off high-interest cards.
- Automated payments: Makes automatic payments on my behalf.
- Credit score monitoring: Tracks my credit score as I pay down debt.
How it Helps Me Save:
By using Tally, I’ve been able to reduce my overall credit card interest payments by consolidating debt. This has saved me hundreds of dollars in interest charges. For example, I paid off a $2,000 balance at 20% interest over 12 months and saved around $300 in interest by using Tally’s lower-interest line.
10. Zeta
Zeta is an app I use with my partner to manage our joint finances. It’s particularly useful for couples because it allows us to track shared expenses, set up goals, and even split bills. Zeta keeps things organized and transparent, which helps avoid any misunderstandings.
Key Features:
- Shared accounts: Track joint expenses and savings.
- Bill splitting: Split bills and track contributions.
- Goal setting: Set joint financial goals and track progress.
How it Helps Me Save:
Using Zeta has helped my partner and me stay on the same page with our finances. For instance, we used Zeta to save for a vacation and were able to track our progress toward our goal. We ended up saving $500 faster than we expected, thanks to our shared budgeting and automatic savings features.
Conclusion
Saving money doesn’t have to be complicated. With the help of these 10 apps, I’ve been able to automate my savings, track my spending, and find ways to save on everyday purchases. Whether you’re looking to reduce debt, save for a big purchase, or simply become more mindful of your finances, these apps offer a range of features that can help you reach your goals.
By using a combination of these apps, I’ve been able to save more money with minimal effort. It’s all about finding the right tools that suit your personal financial situation. With the right mindset and these apps at your fingertips, you can take control of your finances and start saving today.
