When you are struggling with saving money, going back to the basics can help you a great deal. When you set and track your budget, it is easier to determine how you will achieve your financial goals. Nowadays, different kinds of apps can help you to stay on track with your saving habits. These are the best apps for money saving goals. These apps can analyze your current and past spending behavior to provide you with much-needed budget insights. This can help you to figure out where your money is disappearing and to plan for those home improvement projects better.
The best part about having a money saving app is that you can find tools and information to improve the way that you make financial decisions. These are easily accessible at your convenience from the app. In no particular order, we have listed these best apps for money saving goals that you can use.
1. Empower
The best apps for money saving goals are the ones that offer you flexibility when you need to access your savings account. Empower is one of these apps that are ideal for implementing an effective savings strategy. It is an ideal app for anyone who may have trouble creating a workable budget regularly. This app can predetermine your spending limits and lower your expenses accordingly to fit your affordability.
Let’s say you wanted to travel overseas for the next Christmas holidays, but you are struggling to come up with a budget that you can work with to plan your trip. This app can renegotiate some of your monthly utility bills to help you save any excess cash into your savings account. It also gives you the option to earn interest in your account.
Everyone enjoys being able to get control over their financial decisions. Having someone to offer financial guidance can be beneficial to maintain the balance with your expenses against your income. Empower offers you access to human coaching that can serve as a valuable tool to make informed financial decisions. The app is available for both iOS and Android devices, and you can have access to it for free for the first 14 days after you sign up. While there is a monthly subscription fee afterward, the money that you will save on renegotiated expenses, you will not feel that small monthly pinch.
2. Digit
This innovative money saving app is ideal for helping you to determine just how much money you can put away each month. This app is easily linked to your bank account to pull the money that will be saved each month. Once you have downloaded the app and linked your account, you can set up your savings goal. The app will be able to analyze your spending habits to calculate how much you can afford to save. Thereafter, the app will be able to take small amounts of money to safely save in a secured account.
If you have been putting off calling a garage door service to fix your leaky garage door, you can now save towards it. Digit will send you real-time notifications to remind you of how much you have to go until you achieve your financial goals. This is the most ideal app for people who prefer to rely on automatic savings. There is a free trial for 30 days, thereafter, you can pay a small monthly subscription fee. This app is available for both iOS and Android devices.
3. Chime
When you think of the best apps for money saving goals, Chime should be at the top of your list. This app combines several saving options into one. You have online access to a checking and savings account that makes it easier to send money back and forth. This app will make saving for a large goal such as installing solar panel systems much faster to attain. It saves any change automatically into your savings account after each purchase. Moreover, you can even set up an automatic savings plan and determine the amount that you want to save each month.
This app is ideal for anyone who prefers their bank to handle the headache-inducing savings strategies that are out there. You can go on about your day knowing that you have one of the best apps for money saving goals taking care of your financial decisions. The best part is that this app is free to use on iOS and Android devices. Chime has different savings options that are tailored to meet the needs of any individual. Setting up your account will not take you more than 5 minutes.
4. Acorns
If you are looking for the best apps for money saving goals, you are most likely hoping to find something that can give you the benefits of a piggy bank and the long-term advantages of an investment account. This app is designed for people who still want to have the flexibility of stockpiling their money while they can micro-invest their cash. This app like the others that have been mentioned can round up your transactions to the nearest dollar while depositing any spare change into an investment account.
The best thing about this app is that it allows you the opportunity to earn cash backs on your purchases. If you have wanted to get braces to align your teeth for a while, you can use the advantages of this cashback option to improve your savings plan. Moreover, this app offers you the option to build up your investment portfolio options. It can give you tips on how to improve your portfolio and which investments should be avoided as they can compromise your investment growth goals.
However, this kind of app is ideal for people who are not afraid to take any risks. With a fixed monthly fee of $1 a month for accounts with a sum that is less than $1000 000. You can even earn a $5 sign-up bonus on your iOS or Android device. The lack of restrictions and fees on deposits and withdrawals makes this an effortless money saving goals app to use.
5. Stash
Sometimes you may need an app that can help you to invest your savings in the best way possible. Stash offers you the tools that you need to turn investing into a way to attain passive income. So, if you are looking for ways to automate your savings stash and reinvest it this is the app that can meet those needs. You can set up micro-investments to stash your money into different EFTs and individual stocks. The amount that you set to invest depends on what you plan to achieve, but you do not need to invest a large sum of money to get started.
You can set up your account to automatically invest any change from your purchases with your debit card, or withdraw money at your convenience. The money that you can make from these different investments can be used to book that auto repair that you have been thinking about doing. This app has all the tools that you need to analyze your expenses against your net income and to determine how much you will be able to invest. The costs to use this platform vary according to the balance that your account has. However, you should read the fine print about any ancillary fees that customers may be charged by the app.
6. Qapital
With this app, you can turn the small actions that you take daily into an investment opportunity. Let’s say you are in the paper and packing industries, and you purchase laminating film regularly. This app can round up the price that you pay and save the change in an account for you. This balance that you end up saving regularly can go towards other savings plans such as a holiday or your home remodel. This app is easy to use, and it does not require any minimum balance nor does it charge you a monthly service fee.
There are cool features that are included in the app such as different skills that you can learn and various ways to configure the money that you end up saving. The app allows you to make estimates of the amounts that you will need for anything that you are planning on purchasing. You can use this app on your iOS or Android operating device for free. Setting it up is easy, but you have to open up a new account.
If you are not ready to open up an account with Qapital, you can use their dummy scenario. This is one of the few best apps for money saving goals that allow you to mimic the experience of having a savings account to teach you how to do it.
7. iMoneyLover
If you have a smaller savings goal and need a reliable yet hassle-free app, then iMoneyLover can help you to achieve your financial goals. Let’s say that you were trying to save for something small-scale like a bridal bouquet, this is an app that you can choose as part of your best apps for money saving goals list. This app does not require any setup or linking with your account information. It is basically a simple automated piggy bank system that allows you to customize your small-scale savings.
Its simplicity of use and the ability to reset your data once you have achieved your financial goals makes it a winner. However, it is not equipped with the tools that can track your savings goals like the other apps that we have listed. And it can only show you one financial goal at a time. Moreover, it is only free and available for iOS operating devices.
8. Money Box
This app is similar to iMoneyLover. The difference though is that it offers you an online piggy bank that can track your financial goals and help you to visualize them. You can also link it to your social media platforms such as Facebook and Twitter. But one of its drawbacks is that you have to manually create your savings account and invest your savings there whenever you want.
The options to customize your savings options such as how often you want to save or percentages to track your spending make it a motivating platform to save money on. If you have been eyeing a personalized whiskey barrel for a while now, you can finally save towards it with this app. There are a few things that you may need to maneuver with this app to make it work best for you.
9. Fireants
If you are someone who wants to listen to words of encouragement and motivation to keep you going then this is the app for you. Fireants offers you a visually satisfying and easy experience with saving your money. You will receive monetary proverbs from many financial gurus while developing a habit of saving. You can simply track your savings plan and the total dollar amount that you have saved over time. This app is fast and efficient.
If you have been struggling to purchase new clothes, you no longer need to buy used clothes anymore because when you use this app you will be able to save enough money faster. The only downside to this app is that you can only track one financial goal at a time unless you can upgrade to the premium version.
The Bottom Line
There is a wide range of the best apps for money saving goals that you can try out. Most of them offer you different tools to help you navigate your financial goals and to track your spending habits. It is important to see if your device is compatible with the type of app that you want to use. The best part about using an automated system to achieve your financial goals is the time and money that it saves you.
Learning new ways to save your money no longer has to be a time-consuming task. You can make your debit or credit card purchases without worrying about how much change you can save. These best apps for money saving goals are more than reliable to help you to set and meet your financial goals.
