Saving money automatically has become part of my new lifestyle!
If any of you guys out there are anything like I was, maybe still am although I'm working on it, then finding those everyday ways to save money is tough!
Well I'd like to let you in on one of my most favorite saving money apps called Digit.
I was first introduced to this free money saving app by my financial mentor and closest friend. We were talking one day about ways I could try saving money because I didn't have much to really save at the time, so I was feeling overwhelmed because I didn't know what I could do to start.
This was when he graced me with this precious gift known as Digit! He told me about how I could basically sign up, link my free simple bank account to it, then honestly forget about it.
I was so shocked by this idea, "What do you mean FORGET about it?". I was thinking this was crazy, everyone know's when you're trying to save money you have to come up with a budget let alone constantly think about it... right?
Who is Digit?
As it turns out, he was right. I went ahead and signed up for it since it was free, so really I wasn't risking anything. I looked into them and they're based in San Francisco, CA, and have a pretty good sized team.
They are currently only working with banks located inside the US right now, with future goals of expanding internationally. At the time of writing this, Digit currently supports over 2,500 banks and credit unions within the United States!
Digit is a journey aimed at refreshing the interactions between humans and their money.
Bad financial habits create unnecessary hardship that derail us from living our life to the fullest. We believe we can help people avoid some of these hardships by combining recent discoveries in behavioral psychology with technology.
So how does this amazing Digit App Save Money for me?
Like I stated early, the first step is to go to Digit to sign up online, then you will link your checking account to the service. They even now allow you to download their iPhone or Android App for free on to your smartphone to finish setting up after you sign up.
From this point on, you literally can forget about it! I know it sounds too easy, but this is literally how it works. From now on, every few days, Digit will check your spending patterns and watch how you move your money.
They do this in order to make sure they will NEVER cause your account to overdraft, they even have a no-overdraft guarantee!
They are also FDIC insured of up to a balance of $250,000. Between this and their state-of-the-art security measures, your personal information is anonymized, encrypted and securely stored.
Ok so how will I know how much I saved?
I know you said you can forget about it, but for awhile I would get really excited to see how much I've saved with it so I was checking it all through the day.
Luckily, I later realized you can easily set it up to text you when it saves money back for you and how much.
Honestly, after the sign up online, you won't need to go back to watch or manage your savings after signing up.
They have a great option where you can literally just send a text message to them from your registered smartphone with the following text:
savings, checking, recent, withdraw, save, pause, notifications.
To see a list of all these commands just text commands.
Now how easy is that? I wish banks were doing this too! Maybe soon since this easy and automated way of saving money is catching on they will!
Can it get any better?
Yes... yes it can! They currently are offering Savings Bonuses! They will reward you for saving money!
As long as you're saving money with them, they will give you 5 cents for every $100 automatically! I know that's not as much as other money saving's accounts, but do they also do your budgeting for you while also making sure you don't get over-drafting penalties?
I've been using Digit for awhile now, and I've been saving money using them. Saving a lot more money then I ever have trying to budget myself.
I think the key factor with this service is the ability to literally let yourself forget that you're saving money. By doing this, it kind of gives it the whole "out of sight, out of mind" kind of method to it.
By saving money this way, you are able to forget about it, so you aren't actively worrying about saving money or stressing over a budget as much.
I really hope a lot of you give this a real try, I've always had trouble trying to stick to a budget and with this, it tracks my spending habits for me, therefore they will routinely only save money for me that I can afford to save around that time.
I seriously never notice any difference in my simple checking account until I finally go to look at my bank statements or account activity, that's how great this works for me.
So please, anyone that is serious about saving money, please give Digit a trial run and at the most you're risking is the chance to save money, how is this a bad risk?
Full disclosure: I am now "affiliated" with Digit, by using my link's to sign up I do get a $5 commission for you signing up with my links. This will not cost you any money to sign up, nor use.
It's not a trial period, it's 100% full account membership. No strings attached, no obligations.
I just really believe in this service, that's why I want to share it with everyone I can reach. Using this method has greatly helped me saving money and I want to spread the gift that I was given.
While doing so, I'm also getting commission on anyone I am able to share this with, anyone that is truly serious about saving money would want to do the same.
I appreciate you taking the time out of your lives to read my money saving tips post, let alone to completion.
I know I have a bad habit to ramble when excited and I am truly happy with this app! If any of you give it a real shot, I would really like to hear your comments and experiences on it down in the comments below.
Until next time, remember we aren't poor, we're just PreRich!