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Budgeting and Saving Money can require a lot of work and effort, so do it the lazy way with these apps
Today on the show, we talk about how to save money wtihout really thinking about it.
Saving money is already is enoguh, because it's easier to just put money in a bank account than to go out shopping adn follow the latest trends.
But these apps put savings on autopilot or make it a lazy task to do.
(Crazy) Cat Lady Katherine comes on the show to share how to make Spider Man cat boots.
8. Rize
• Set a savings goal
• Automatically calculates how much you should save
• You can break down the savings amount (weekly, bi-weekly, or monthly)
7. Tip Yourself
• Whenever you do a certain behavior or do something that deserves a tip – just go into the app, hit a button and give yourself a monetary reward
• Completely manual. No automatic deposit
6. Qapital
• Integrates with IFTTT (If This Then That)
If I purchase from Arby’s
If I got to the gym
If I tweet about popcorn
...then save x amount of money
5. Chime
• Round up spare change
• Save percentage of pay check
• Get $50 for each friend who opens a Chime account and receives a payroll direct deposit of $200 or more within 45 days.
4. Bank of America Keep the Change
Like Acorns without fees.
Round up spare change
not a start up, but established brand
3. Mint
auto track budget
multiple accounts (savings, checking, investments
2. Goalsetter.co
focus on parents
“gift cards” that deposit directly into FDIC insured account
set goal, automatic transfers
1. DIGIT
Great starting point to learn how to budget/save. My favorite and not so favorite at the same time.
A text chat bot. No app download required.
Digit helped me realize that money can be saved and I didn't have to be completely broke.
Analyzes the how much and when of your spending behavior, income, and bill payments to automatically calculate and deposit small amounts in a savings account with interest.
But the monthly fee is way too high. All the other apps are free.
A minimum account balance of $3600 is required to BREAK EVEN with the fees at $3 per month or $36 per year (rounded up by some change). Most users I imagine have waaaay less than $3600 in their account. I mean let's be real about this.
It’s important to note that none of these other savings apps offer an interest rate at all though, so it might be worth it if you do have above t $3.6k in your app, but most of their customers are low income people trying to achieve financial goals and learn how to budget. That’s quite a large sum of change for someone of low income.
Charging a fee goes against their mission statement to help people “avoid hardships,” because let’s face it, any additional fee or expense in life when you’re at a certain socioeconomic level IS a hardship.
OTHERS/Runner ups....
Olivia
• iOS only
• Budget & Savings chat bot
Plum
• like Digit.co, a messenger bot but on Facebook
• UK only
• Anazyzes income and spending behavior to auto save
• Guaranteed no overdraft
• Free for savings and 1 euro per month for investing, like Acorns
Acorns
• Round up spare change to to nearest dollar
• $1 per month
• $12/year
• 0.25% of account so ver $5k
YNAB (You Need a Budget)
for full manual control over your budget with a clean user-friendly interface
Review ProcrastiN8r on Google Business
My "Quote-a-gram" created by SpacePiratePoetry
CREDIT:
Host & Production by Nate Zerambo
Includes Music by Kevin Macleod
Includes Voice Clip from Dave Jackson's Podcast Rodeo Show review of ProcrastiN8r, used with permission.
All other clips (sound effects, quotes, catchphrases, etc.)are either purchased and used royalty free or implemented under free use.
Today on the show, we talk about how to save money wtihout really thinking about it.
Saving money is already is enoguh, because it's easier to just put money in a bank account than to go out shopping adn follow the latest trends.
But these apps put savings on autopilot or make it a lazy task to do.
(Crazy) Cat Lady Katherine comes on the show to share how to make Spider Man cat boots.
8. Rize
• Set a savings goal
• Automatically calculates how much you should save
• You can break down the savings amount (weekly, bi-weekly, or monthly)
7. Tip Yourself
• Whenever you do a certain behavior or do something that deserves a tip – just go into the app, hit a button and give yourself a monetary reward
• Completely manual. No automatic deposit
6. Qapital
• Integrates with IFTTT (If This Then That)
If I purchase from Arby’s
If I got to the gym
If I tweet about popcorn
...then save x amount of money
5. Chime
• Round up spare change
• Save percentage of pay check
• Get $50 for each friend who opens a Chime account and receives a payroll direct deposit of $200 or more within 45 days.
4. Bank of America Keep the Change
Like Acorns without fees.
Round up spare change
not a start up, but established brand
3. Mint
auto track budget
multiple accounts (savings, checking, investments
2. Goalsetter.co
focus on parents
“gift cards” that deposit directly into FDIC insured account
set goal, automatic transfers
1. DIGIT
Great starting point to learn how to budget/save. My favorite and not so favorite at the same time.
A text chat bot. No app download required.
Digit helped me realize that money can be saved and I didn't have to be completely broke.
Analyzes the how much and when of your spending behavior, income, and bill payments to automatically calculate and deposit small amounts in a savings account with interest.
But the monthly fee is way too high. All the other apps are free.
A minimum account balance of $3600 is required to BREAK EVEN with the fees at $3 per month or $36 per year (rounded up by some change). Most users I imagine have waaaay less than $3600 in their account. I mean let's be real about this.
It’s important to note that none of these other savings apps offer an interest rate at all though, so it might be worth it if you do have above t $3.6k in your app, but most of their customers are low income people trying to achieve financial goals and learn how to budget. That’s quite a large sum of change for someone of low income.
Charging a fee goes against their mission statement to help people “avoid hardships,” because let’s face it, any additional fee or expense in life when you’re at a certain socioeconomic level IS a hardship.
OTHERS/Runner ups....
Olivia
• iOS only
• Budget & Savings chat bot
Plum
• like Digit.co, a messenger bot but on Facebook
• UK only
• Anazyzes income and spending behavior to auto save
• Guaranteed no overdraft
• Free for savings and 1 euro per month for investing, like Acorns
Acorns
• Round up spare change to to nearest dollar
• $1 per month
• $12/year
• 0.25% of account so ver $5k
YNAB (You Need a Budget)
for full manual control over your budget with a clean user-friendly interface
Review ProcrastiN8r on Google Business
My "Quote-a-gram" created by SpacePiratePoetry
CREDIT:
Host & Production by Nate Zerambo
Includes Music by Kevin Macleod
Includes Voice Clip from Dave Jackson's Podcast Rodeo Show review of ProcrastiN8r, used with permission.
All other clips (sound effects, quotes, catchphrases, etc.)are either purchased and used royalty free or implemented under free use.
