Looking to boost your savings, but not sure where to find the money? Have you tried to save, but after paying bills it seems like there is nothing left over to save?
One hack that has helped me is automatic savings. I set it up so once our direct deposit comes in, some of it is set aside.
There are some wonderful tools and services that can make it even easier. One of my favorites is Digit.
Digit: Automated Savings
Digit is a free service that you connect to your checking account and every few days they transfer small portions of your money into your Digit account so you can save.
They monitor your spending patterns so their withdrawals won't overdraft your account. (The company even offers a guarantee if that ever happens.)
Its free and with Digit you money is FDIC insured up to a balance of $250,000. They support over 25,000 banks and credit unions in the United States.
Digit updates you by texts so you know your balance and have complete control over your money.
You can withdraw your savings 24/7 and there are no limits to how many times you can transfer back your money into checking.
Earn Rewards By Saving
As awesome as Digit is there is one downside that I have to mention – right now there is no interest earned on your savings.
They;re not a bank so they cannot offer it, but they do have rewards for keeping your money stashed away.
Set up is a breeze and your savings is all automated. You still have complete control over your money.
If you're looking for more information, go ahead and explore their FAQs or if you're ready, sign-up to open an account today!
Thoughts on Using Digit for Saving
If you’re someone who wants to save and who wants to keep their current checking account, then Digit can be a wonderful option.
Photo Credit: Hello Digit, Inc.
Sign up for weekly newsletter full of tips, stories, and more to help your family become financially free
Get the best of Simplify & Enjoy in your inbox