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If your friend told you not to drop $1,000 on the latest iPhone, you might be a little offended. Who can you spend money on? On the other hand, an app specifically designed to track your finances might welcome you to save that money instead.
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Many financial apps are out of the box these days, including save apps that can be downloaded and set up in minutes. Check out the six main benefits that savings apps bring to your budget.
1. Inspire retirement
Let’s be honest, saving for retirement can be tough, whether you’re only a few years away from retirement or have decades to save.
That’s where apps like Acorns come in, taking the leftover change from your transactions and applying that amount to long-term financial goals, including retirement. Fees are very low with plans ranging from $1 to $3 per month depending on how aggressively you are looking to invest. In addition to that, Acorns can “turbocharge” Roundup to provide additional moolah to your account.
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2. Goodbye Subscriptions
We all do it at some point. I signed up for a free trial to take advantage of streaming music and watching movies for a few months, but forgot to cancel when the trial ended. Apps like Trim, which lets you sign up for free and boast that users “save an average of $620 a year,” cut spending with early alerts about upcoming payments and cancellation of unused subscriptions. It helps you keep track. .
3. Get an education
A quality college education is priceless, but the price of college is…Woof, the stomach becomes more and more hard. Luckily, when it comes to wasting money for tuition, savings apps, including Upromise, which not only sets college savings goals but also helps users make those dreams come true through automatic deposits. does not skip
According to their website, “Families saved over $1 billion for college using Upromise.” This means that students can spend a little money on all the essential college necessities (such as a case of commercial-size Cup of Noodles).
4. Cash for kids
The savings app BusyKid allows parents to assign chores to their children and allows them to mark tasks as complete. When Friday comes around, the allowance for household chores is credited directly to her BusyKid account on her FDIC insurance, and a weekly percentage is automatically deposited into the child’s BusyKid savings account. Throw your piggy bank out the window because this app is all you need to teach your kids about money management.
5. Cashback
gas. groceries. The list of costs goes on and on! Many debit and credit cards offer cashback opportunities, but with a savings app like Upside, you can earn extra on your daily purchases at 50,000 branded retailers and local outlets across the US. can be rewarded. According to Well Kept Wallet, “As of 2022, Upside users will have $200 million.”
6. Keep coupons handy
Apps like Capital One Shopping have free savings tools that compare prices per transaction. Set your preferences, check out daily featured offers and shop frugally with confidence.
The Capital One Shopping App checks the entire web to get you the best prices regardless of what’s on the online market. It saves you more money than cash back because the price doesn’t go up in the first place.
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