4 money saving apps to help you grow your wealth

4 money saving apps to help you grow your wealth

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No matter what financial goals you set for yourself, the right tool has the potential to help you reach them faster. Money saving apps can help you manage your finances more effectively.

However, with so many money-saving apps to choose from, it can sometimes be difficult to find the right solution for your needs.

Keep in mind that the best money-saving apps for you may not be right for everyone. So when considering different financial technologies, it’s wise to evaluate the costs, features, and how the various applications match your goals before making any final choices.

Here are four money-saving apps you might want to consider.

Acorns is an app designed to help set autopilot. Once you set up your account, you can link your credit cards to the app and have Acorns collect your purchases to the next dollar. From there, Acorns can save or invest your spare change on your behalf.

The Acorns app offers users several different options to simplify the process of saving money. You can automate savings goals for a (in a Mighty Oak Bank High Yield Savings Account), investment accounts, and retirement accounts based on your personal preferences or on the advice of a robo-advisor.

Monthly fees for Acorns vary depending on the membership level you choose:

  • Personal Acorns: $3 per month

  • Acorns Personal Plus: $5 per month

  • Acorns Premium: $9 per month

All three plans include the Round-Ups® spare change feature. However, the lowest-priced plan – the Acorns Personal plan – doesn’t include a high-yield savings account option to help you grow your emergency fund. Also, if you’re interested in investing or , you’ll want to consider the Acorns Premium option.

Acorns may be best for new investors and savers who appreciate an automated savings process and access to a .

Qapital is another personal finance app that can help users save small amounts of money and automate the process. Plus, with Qaptial, you can set the rules when it comes to saving money towards your automatic savings and investment goals — and there are 15 options available.

For example, you can direct the app to aggregate transactions and deposit money into a specific savings or investment account every time you use your debit or credit card. There is also a “Guilty Pleasure” rule; for example, whenever you brag about doing it, you can direct the app to set aside a certain amount of savings in response.

Qapital also offers users several other useful personal finance tools. The application includes, a debt tracker and the option to .

Qapital offers three different membership levels:

  • base: $3 per month

  • Fill in: $6 per month

  • Prime Minister: $12 per month

All three membership options include unlimited savings goals and the option to share goals with a partner. Full and Premier members also have access to a Visa® debit card and an automated investment account. Qapital Premier offers access to all features, including custom challenges (called Money Missions) to help users save more.

Qapital may be best for people who respond well to visual goals and an automated saving process. The personal finance app can also work well for those who need a tracker to help pay off debt – individually or with a partner.

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Rocket Money is another money saving app you might want to consider. It offers a wide range of features, including budgeting tools, net worth tracking, subscription management, bill negotiation, smart savings accounts, and credit monitoring (among others). You can also link your bank and investment accounts to automate savings goals.

Unlike some other money saving apps, Rocket Money offers users a free version and a premium version to choose from. Of course, the premium version of the app offers more features. But the fact that a free version is available at all is more than what many competitors have to offer.

Rocket Money offers users two different membership options.

If you choose to become a Rocket Money Premium member, the service starts with a 7-day free trial. After that, membership is $6-$12 per month, based on the price you choose at signup.

Rocket Money also offers a bill negotiation service. Fees for this service are 35%-60% of the amount Rocket Money saves you (first year savings only). Again, you choose the percentage to pay the company within this range.

You might want to consider Rocket Money if you’re looking for a subscription management tool or a bill negotiation service to save money on your monthly budget. People who can benefit from the free version of the app may also want to consider this service.

Goodbudget is a money-saving app that puts a digital spin on the traditional. You can use this personal finance app to create a budget and set savings goals, dividing your income into different categories or “envelopes” each month based on how you want to spend and save the money you earn. This type of strategy is called zero-based budgeting, and Goodbudget gives you the digital tools to make it easier to stick to it.

It’s important to note that Goodbudget doesn’t include automatic saving features like some other money-saving apps. But if you upgrade to the premium version of the app, you can take advantage of unlimited budget categories and share your budget with multiple users.

If you’re interested in using GoodBudget to manage your money, there are two membership options:

Free accounts come with up to 20 budget categories (known as digital envelopes). Meanwhile, premium users can set unlimited envelopes and can share the budget with a partner or a group.

Goodbudget can be a good fit for fans of envelope budgeting and people who want a digital tool to track a zero-based budget. Partners and families who want a tool to help them budget together may also want to consider the app.

With so many options available, it can be difficult to choose a money-saving app to help manage your finances. Below are some tips to help you sort through the available options and choose the best money saving app for your situation.

  • Identify your financial goals. Before you start reviewing applications, it’s good to understand the financial goals you’re trying to achieve. If your priority is paying off debt, for example, you should start by looking for digital tools to help you accomplish that task. However, if you’re already debt-free and have a well-established emergency fund, you may be ready for more advanced money-saving tools that automate retirement investments and savings.

  • Review features and rates. Then, you can start reviewing the features and costs that different apps offer. Keep in mind that you may want to sign up for more than one money-saving app to meet different financial goals. Just make sure you don’t put a strain on your budget by committing to more monthly fees than you can afford.

Money saving apps have the ability to simplify difficult or tedious financial tasks. And if they help you save money or stay on track with important financial goals, they can be well worth the cost of any associated membership fees.

However, before you sign up for this type of service, it’s important to do your research. You should make sure you compare the options and choose a digital tool that you believe will benefit you – especially if there is a fee. It’s also important to frequently evaluate the value of any service that charges a recurring monthly fee to ensure it continues to be worth the cost.

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