Saving money is something every one of us struggles with. It’s one thing to find how to make money; it’s another to save it. It doesn’t matter if you earn so little, you can still set out a piece to save for the rainy day. One of the main challenges to saving money is keeping the money away from your reach. With new generation saving apps like Digit app, you can save money without having to change your saving or spending habits.
The Digit app differs from others because it is programmed to help make the procedure automatic while also analyzing your spending habits to help you save more. The app works as a micro-savings platform making it easy for you to save small money over a while. It is perfect for saving for trips and vacations and not something you will be interested in if you want to save for a house or retirement. It is also something you want to try if you are looking to learn how to save money.
The Digit app operates by transferring money from your checking account to your saving account on the app. It does this regularly based on how you spend cash. The app tracks how you spend money over a period and transfers a bit of money for safe keeping. It performs a daily review of your account and determines how much money can be transferred.
The amount to be transferred depends on factors such as your recent spending, upcoming income, bills, and expenses and also your checking account balance.
The app supports more than 7,000 banks and credit unions in the United States. You can’t use credit cards with the app, but it also monitors credit card expenditures since they are linked to your checking account.
Some of the reasons why we love the Digit app apart from that its one way to save money include
1. Occasional saving bonus
One of the benefits of using the Digit app is that after a period of time of using the app, you get an automatic saving bonus which is usually 1%. This bonus is usually paid every 3 months and the 1% bonus depends on the average daily bonus on your Digit account.
2. Easily track your account
You can track your savings on the Digit app. Once you have downloaded and installed the app from your Android or iOS store. You can also use the app to perform transactions such as checking upcoming bills, pausing savings and checking your account balance.
3. User-friendly interface
The Digit app features a user-friendly design that makes it easy for you to use the app to save money. It provides you with text notification daily on the amount transferred.
The app only allows you to use one checking account and also carries a monthly fee of $2.99. Although there are other savings apps that come without fees but for that minimum amount monthly, you get to enjoy a lot of features that are missing in many other apps available.