Let’s face it, we all struggle to save. Did you know that most Americans have zero savings despite having a savings account? Unbelievable, isn’t it? In fact, according to one survey, around 70% of U.S citizens have less than 1000 dollars stashed away in savings! This suggests they have nothing set aside for their emergency funds, financial goals, or retirement.
Yes, saving can seem like a challenge, but with so many budget apps to help you manage your money and spend smarter, it shouldn’t be a big deal. Check out these top 10 money-saving apps that will not only help you build your savings account but also manage your finances.
1. You Need a Budget
Best for joint goals
Cost: $14.99/month or $98.99/year
Used by millions of people worldwide, YNAB was built to help people plan ahead and stay in total control of their finances. With 4 out of 5 stars on Google Play alone, the app has helped an average user save more than $6000 a year. YNAB allows users to create goals, categorize expenses and make timely budget adjustments.
The best thing about this budget app is that it promotes a proactive approach to budgeting rather than keeping an eye on previous transactions.
2. Every Dollar
Best for specific goals
Cost: Free, 3 Months: $59.99, 6 Months: $99.99, 12 Months: $129.99
Budgeting can be a chore. But if you’re over your head in debt or trying to save some bucks, budgeting can navigate you through the choppy waters. Designed by Dave Ramsey Solutions, Every Dollar is a zero-based budgeting app.
Although the app cannot pay your bills or monitor stock, some users might benefit from the manual transactions. Zero-based budgeting encourages users to plan their purchases ahead and assign each dollar to a specific expense. This allows users to stay ahead of the curve, avoid mindless spending and stay within the budget.
So while this budget app’s budgeting system puts you in the driver’s seat of your goal planning excursion, people looking to track investments might have to look elsewhere.
3. Mint
Best for over-spending
Cost: Free
If you’re doing everything possible to stick to a budget, but your overspending habits are costing you your saving goals, this one is for you. By far one of the best budget apps on Google Play, Mint not only aims to break your unhealthy spending habits and keep your finances in check but also helps you pay off debt.
This budget app allows you to sync all your bank accounts with the app, categorize your expenses, and track your purchases. Thus, it gives you a better picture of your financial situation.
4. Fetch Rewards
Best for cashback offers
Cost: Free
The Fetch rewards platform is geared towards the shop and earn system. Unlike most reward budget apps, with Fetch, you don’t need to clip digital coupons or shop at specific retailers to reveal the offers. Instead, you can buy wherever you like.
Each time you make a purchase, scan your receipt on the app, and depending on the offers on your receipts, you earn points. Users can later redeem the points for gift cards, magazine subscriptions, sweepstakes, and charity. It’s as simple as that.
5. Truebill
Best for managing recurring expenses
Cost: Free, Premium – $3 to $12 per month
Do you notice how much you spend monthly on household bills? Truebill is an innovative tool that helps you cut back on your monthly bills. By tracking down and canceling unnecessary monthly subscriptions and limiting recurring payments, it helps you understand your spending habits and gain better control over your budget.
Apart from being your all-in-one “money manager,” this budget app gives you a detailed breakdown of your monthly finances and a free credit score. Since being founded in 2016, it has helped users drastically cut down their budgets and save up to $14 million in monthly expenses. However, some app features can only be availed through a Truebill premium subscription.
6. Acorns
Best for budgeting
Cost: Free, $5 for investing
We’re not talking about oak nuts here! However, Acorns work in the same way as oak nuts. As these tiny nuts grow into giant oak trees, the acorn philosophy encourages small investments with greater returns.
This hands-off app does more than just round up spare change. With its simple automated savings and investing features, you can start a personal checking account, invest or save for long-term goals. With this free budget app, you can start with less and invest often, all without making any major lifestyle changes.
7. Chip
Best for automated savings
Cost: £1.50 per month
Chip marries the idea of simplifying saving money. Chip uses AI technology to analyze your spending, and on your behalf, saves a little every week.
Also, the unique Payday put away tool allows users to set a regular amount to be saved the day they get paid. Trusted by millions, the app uses bank-level security, which means all your information and money are safe with Chip.
8. Raise
Best for saving on gift cards
Cost: Free
Have an unused gift card that you would gladly exchange? Sell it on Raise. This is yet another free budget app you never knew you needed. Raise is an online marketplace where you can earn and save money by selling unwanted gift cards or purchasing them at the platform for a bargain price.
Another perk of using Raise is access to exceptional deals, coupons, and discount codes. So, the next time you want to buy a gift card, check Raise first. That $100 gift card might cost you $60 or even less. That’s incredible, right?
9. SingleCare
Best for saving on prescriptions
Cost: Free
SingleCare can certainly help you save up on your prescriptions. This free budget app work with over 35,000 pharmacies across the USA, the app provides incredible discounts on 1,000+ prescriptions.
Users can compare prices, customize the dosage, and then download a free coupon card to redeem it at participating pharmacy locations. Once the pharmacist enters the coupon number, discounts will be applied automatically.
10. Ibotta
Best for cashback rewards
Cost: Free, but will charge $3.99 per month if not used within 3 months.
Are you someone who splurges hundreds of dollars on each grocery trip only to regret it later? Ibotta might be the solution to your saving woes. With over 10 million downloads on Google Play, it’s one of the top-rated money-saving apps. This free app works like clipping coupons and lets you earn real cashback every time you shop at participating retailers and pay through the budget app.
Users can select the offers they like to redeem, then scan their receipts to verify their purchases using the Ibotta mobile app. Some retailers, such as Target and Walmart, allow customers to link their store accounts to the app, allowing them to redeem offers on the go.
While it is generally paired with grocery items, you can find lots of offers with restaurants, gas stations, bakeries, pharmacies, and other major brick-and-mortar retailers on Ibotta.
Final Thoughts
We all want to save money, but few people achieve their financial goals. By using these above-mentioned budget apps, now you can not only cut down your budget but also invest and save big on recurring expenses.
