Use these tools to make saving easier
We all need to spend money to live, it is simply a fact of life. Nevertheless, many people spend more money than they can truly afford, or are willing to forgo savings to pay for unnecessary or luxury items. This can lead to money troubles in relatively quick order. Thankfully, it is easier than ever to save money, thanks to some money saving apps that can be accessed right from your phone or tablet. Whether you are heading out for your weekly grocery trip, or you are looking for an easy way to dip your toes into the world of investing, some of these apps might be great tools for you.
Acorns
Acorns, aside from its cute name, derived from the term “squirreling away,” is a money saving app that links to your bank account and rounds up your purchases, taking the pennies that you didn’t spend and investing them. You can choose the way you’d like to invest; conservative investors will have more bonds, while more aggressive investors will have their money utilized in stocks. Aside from rounding up your pennies, you can set up automatic withdrawals from your account each week or month to boost your savings. You can also withdraw from Acorns when necessary, however, it is advised that you leave your money in there and watch it grow.
The process is effortless, and you won’t even notice the pennies that are taken from your account. It is an easy way to start saving without having to think about it, and it’s a great way to introduce yourself to the investment market. Overall, it’s a good money saving app for those interested in investing.
Ebates
If you are not using Ebates, you may be throwing money away. Ebates is the perfect way to save money while shopping online. Your shopping trips are tracked by the app, and you’ll receive a rebate on your purchases, ranging anywhere from 1% to 15%, depending on the participating store. Stores will also periodically change their rebate rate to entice shoppers. Checks are sent out quarterly.
While this is a great way to save money and get a little extra back each quarter, it is a good idea to make sure you aren’t spending money just for the rebate. Use the app only when you really need to make purchases, and double check to ensure you are getting the best price on each item you are ordering. With that being said, it is a great tool during the holidays, when stores really ramp up their rebate offerings. You can combine discount codes with Ebates, as well, for extra savings.
Ibotta
Ibotta is similar in nature to Ebates, but it allows you to utilize your in-store purchases for rebates and cash back. This company works with several major retailers, including grocery chains to offer cash back on specific items. You will need to read the fine print carefully on each deal before you decide to shop, but there is a chance to earn impressive rewards. Ibotta requires you to enter the SKU of the item you’ve purchased and take a picture of your receipt to prove the date of your purchase as well as the retailer. Everything is done directly in-app, making the process fairly effortless.
In some cases, you can combine an Ibotta rebate with manufacturer or store coupons for even bigger savings. If you plan on using this regularly, you can take your rebate checks and dump them directly into your savings account to build an emergency fund or individual purchase.
Credit Karma
Okay, so it isn’t one of the many money saving apps on the market, but it certainly has a lot of value. Credit Karma allows you to monitor your credit score, and to dispute incorrect information easily. Keeping an eye on your credit score can only help keep your finances straight. Saving money is great, but credit is important, too, which is why Credit Karma gets a mention as a potential money-saving app.
There are plenty of other money saving apps on the market. Before you pick which ones to use, make sure you read the reviews and ensure any app that accesses your banking information is properly vetted and insured. Happy saving!
* Independent Bank is not recommending a specific application, and the user is responsible for researching the privacy/security policies before utilizing the service of these or other similar applications.
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