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The 5 Best Money-Saving Apps That Work Hard So You Don’t Have To

Use one of the best money-saving apps to help pay down debt

Saving money is a lot like eating your leafy greens regularly or flossing your teeth every day. You know it’s important, yet you’re probably not spending much time or thought on it.

If you’re not making consistent contributions to your savings account, your long-term goals will end up suffering. Big and small financial goals are important so that you can save for emergencies, retirement, vacations, holidays, etc.

And that’s what the best money-saving apps help you do. It’s not always easy to save, but thanks to technology, there are incredible apps out there that do all the hard work for you.

Yes, you read that correctly! Less pressure and effortless savings are right at your fingertips.

Many of these apps track your everyday purchases, transfer cash to separate savings accounts, and much more.

The Best Money-Saving Apps

Before you hit download, here are the main criteria we followed to find the best of the best money-saving apps for 2020:

  • We looked for free or low price apps because let’s face it; no one wants to spend a lot of money on a money-saving app.
  • Next, we looked for ease of use, flexibility to change goals, and other perks.

It’s never been easier to track your money and stay on budget with the best money-saving apps. Let’s dive in!

1. Digit

For all the people who want to sit back and not think about your savings account, Digit is for you. With zero effort on your part, even non-serious savers can save a serious chunk of change.

Here’s how it works, Digit evaluates your spending habits and transfers money from your personal bank account into your FDIC-insured Digit account.

Every 1-3 days, it automatically makes a transfer ranging from $2-15 based on the algorithm and the status of your checking balance, upcoming income, bills, and spending patterns.

The great thing about Digit is that the amount it takes out is barely noticeable, but the small transfers add up over time. This is certainly not a “get rich quick” scenario, but over time it will build a generous cushion for yourself if you ever need it.

Digit is geared towards the tech-savvy millennial generation that’s very comfortable with technology and looking for an easy way to start saving big just a little at a time.

For these users, the $2.99 monthly fee is worth the convenience the app provides. Digit’s helpful text service allows customers to perform banking transactions without the use of a computer.

From the SMS messaging, you can view your balance, withdrawals, transfers, and upcoming bills. There’s also no account minimums and no overdraft fees.

Plus, all Digit customers earn a 1% annualized Savings Bonus every three months they save. You’ll also get a $5 referral bonus for each friend you get to join.

Give it a spin; it’s free for the first 100 days!

2. Qapital

Qapital Money-Saving App
Photo by Fabian Blank on Unsplash

Qapital transfers cash to savings for you by turning your everyday activities into savings opportunities. It’s effortless, motivating, and honestly even a little fun!

The app is very customizable for the person who knows a thing or two about saving but still wants an extra boost.

All you need to do is link your checking account to Qapital as a funding account; then, they open up FDIC-insured savings account at a partner bank for you. Next, you choose a “rule” that you want the app to save for.

For example, you could have Qapital automatically transfer 10% of your paycheck every time you get paid, round up to the nearest dollar on every purchase and transfer the change to savings, or even move $20 whenever you hit up the gym.

The possibilities are endless. Set it and let the app do all the work for you.

The app is 100% free and has no monthly fees or minimum balances. It also connects to IFTT (an app that stands for “if this, then that”), which suggests even more cool ways to save.

Whenever you’re ready to access your savings funds, you can easily transfer straight into your checking account or spend it using a Qapital Visa® Debit Card. (Qapital Cardholders automatically earn interest on all the money in their accounts, hooray for free money!)

If you want to be able to customize your savings, but leave the hard work at the door, Qapital may be your solution. “Save small to live large” is their motto, and we couldn’t agree more!

3. Acorn

Acorn not only focuses on saving but also smart investing. The app rounds up every purchase you make to the nearest dollar and automatically saves the difference.

It then invests that money in a low-cost exchange-traded fund or ETF. You’ll be asked questions regarding your income, net worth, and risk to determine which investments are right for you.

For anyone interested but nervous about investing their money, Acorn is a perfect first step. There is a $1 monthly fee if your balance is less than $5,000 or a .25% annual fee if your balance is more than $5,000.

Good news for college students, it’s free with a registered “.edu” email! Along with the small fees, users report that Acorn’s customer service is excellent.

You also can set lump sums manually to be saved, such as $5-50 every day, week, or month. Another cool perk is that Acorn partners with Jet, Blue Apron, Airbnb, Boxed, and Hulu.

They offer 10% cash back when you use a linked payment method with them. Essentially, Acorn is a virtual piggy bank.

All your leftover change from purchases is stored in the app, and over time you’ll be pleasantly surprised to see how much all of your “roundups” and investments will grow!

You do have to pay taxes on any gains, so keep that in mind.

However, overall it’s a great non-intimidating way to start investing and saving your money.

4. Money Clouds

Money Clouds Money-Saving App
Photo by Michael Longmire on Unsplash

If you’re a visual person, Money Clouds will be your new best friend. The app helps you visually identify what you want to save for.

Whether that be with an inspiring picture, colors, or fun names, seeing your goals lets you have more control and motivation to save for it successfully.

Each of your goals has a clear plan. Money Cloud’s helpful savings calculator determines how much money to save and how often.

Then, Money Cloud automatically transfers money into your individual goals (into a Cloud FDIC-insured account) on the dates you set, leaving you closer to your goals without even having to think twice about it.

You choose how much to save, and they do all the work for you. Did we mention it’s free? Even better.

This is a great automated app if you want to “set it and forget it.” Before you know it, those seemingly small goal transfers will turn into large sums of savings. Can you smell the warm salty beach air?

That dream vacation is now even closer than you imagined.

5. Tip Yourself

While this app isn’t as automated as the others, it’s so easy to use that it earns a spot on our best money-saving apps list. Tip Yourself is a simple app that allows you to transfer money from your checking account to your tip jar.

There are many motivations inside the app that encourage you to check-in and put money aside as much as you can. Plus, it’s completely free. Reward yourself every time you clean the house, get to work, go for a run, or walk the dog. It will add up!

Before you know it, you’ll be rocking that new designer handbag, boarding a plane to Europe, or smiling at the moment you’re 100% debt-free. What are you waiting for?

Give one (or all!) of these fantastic money-saving apps a try today. Find out which ones work best for you and start saving today!

Apps To Help You Save Money


  1. Great apps to help save money. I actually didn’t realize this was even a thing so I learned something new today!

  2. I have heard of Digit but I have never heard of the others. I am planning to look into Qapital, Money Clouds, and Tip Yourself. I’m all about saving money because you never know when you will need it.

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