Common wisdom holds that sometimes you have to spend money to make money. But does the adage apply when you are simply trying to build up your savings?
The mobile app Digit has helped users save money by analyzing their spending habits, moving small chunks of cash from their checking to their savings accounts and even offering cash bonuses. However, the formerly free tool is set to begin charging a monthly usage fee.
You can still download Digit and use it for for free for 100 days. But you’ll be charged a $2.99 monthly subscription rate after that trial period ends. Existing users get 100 days free as well, which began on April 11, 2017.
Perhaps you save enough using the app to justify the charge. If not, there are several free alternatives to Digit. Check out these free money-saving apps to find the best one for you:
1. Clarity Money
This iOS app analyzes your spending habits and offers ways that you can save. In addition, you can set up automatic withdrawals to a Clarity savings account. While the app is free, Clarity does charge for some services, such as transfers and bill negotiation, so read the fine print.
Download this free app, connect it to your checking account and set up a savings goal. Dobot creates a visual for each goal you set and tells you how much you can safely save toward each one. You can send money automatically or manually to your Dobot savings account.
3. Level Money
Powered by Capital One, this free app provides a personal spending guide so you can determine how much you can afford to save. It also helps you track your spending and gives insight into your bank accounts, credit cards and bills.
4. Long Game
Think saving money is a bore? This app turns saving money into an exciting game. As you maintain and grow your savings, you earn entries into games with real cash prizes.
Although it doesn’t directly enable you to save cash, this free app can help you get a better handle on your finances. You can use it to create a budget, track and pay bills, check your credit score and more.
6. Money Clouds
Create your visually motivating savings goals in this free iOS app and then securely link your checking account. Money Clouds helps you devise an automatic savings plan to reach each goal you establish.
This free app gives you entertaining motivation to reach your financial goals. Link up your various accounts (securely, of course) and begin earning reward points as you reach your goals. Use the points for instant win games, with prizes such as cars and vacations.
Do away with your traditional checking account when you switch to this free app, which acts as a digital bank account. Simple will help you set savings goals, creating digital “envelopes” where you can stash money or budget spending. It even tells you how much you can safely spend.
9. Tip Yourself
If you have ever worked in the service industry, you know that tips can add up, so why not tip yourself? This free iOS app lets you transfer small amounts from your checking account to your tip jar. You can also find motivation from the Tip Yourself community, track your stats and withdraw your cash at any time.