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The 3 BEST Apps For Saving Money

The 3 BEST Apps For Saving Money These are the 3 best apps that help you save money automatically!

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In this video I share 3 apps that will not only change the way you save your money but also how you spend your time. Each app will allow you to automatically save money every day, every month, every year and never have to think about it again.

Let's start with an app that most people know about and an app that I mention quite a lot which is Acorns Investing. Acorns is a robo advisor that automatically saves and invests your spare change. There are two ways to fund your account. You can either use round ups or recurring deposits. In order to get started you simply link your credit or debit cards to your Acorns account, select how aggressive you want your investments to be. Round ups are when you make a purchase with an Acorns-linked card, the company will round the purchase up to the nearest dollar, withdraw that difference from your bank account and invest it into your portfolio. If you spend $5.25 with your card, it will round that up to $6.00 and invest the difference of $0.75 into your portfolio. The second way to fund your account is what can make the biggest impact on your savings which is recurring deposits. The way these work is you pick a dollar amount you want acorns to invest either every day, every week, or every month and Acorns will automatically deposit this money into your Acorns account for you! Acorns costs money. There are three plans you can pick from but if you are looking for something easy and simple I would just go with the basic account.

Next up is Stash. The Stash app unites investing, banking, saving, and learning into one seamless experience but today we are going to focus on the saving and investing portion of the app. Like Acorns, Stash also allows users to use round ups and recurring deposits. The main difference between Stash and Acorns, however, is that Stash requires you to make your own investments rather than just have it done automatically for you. Stash offers single stock investing, and rather than just buying fractional shares of ETFs, you can also purchase fractional shares of nearly 200 different stocks. You are responsible for picking each investment. So, if you are looking to be able to have a little more control with your investment, you can invest in companies you are passionate about or interested in.They have 3 different plans to choose from: (1)Beginner $1/mo. Comes with a personal account (2) Growth $3/mo. Both personal and tax benefits for retirement investing (3) Stash+ $9/mo. Everything above plus investing accounts for two kids, a debit card with 2x stock back, and monthly market insight reports.

Finally, the last app I will share with you today is an app called Chime. Chime is a mobile-only, FDIC-insured bank with no monthly fees and no minimum deposit. When opening an account with Chime, you get a checking account (Chime calls it a spending account), a debit card and a savings account. It allows its users to use round up features where every time you make a purchase in your checking account they round it up to the nearest dollar and deposit it into your Chime savings account. Another way you can automatically save money with Chime is that you can set up your account to automatically transfer 10 percent of your paycheck into your savings account. The downside of Chime compared to the other apps is that it simply puts your round ups into a savings account and doesn’t allow you to invest it in the stock market.

No matter what app you use: Acorns, Stash, or Chime all of them make saving money automatic. The difference between the apps are what happens after the money is saved. With Acorns it is automatically invested, with stash you have to invest it yourself, and with Chime the money is simply saved with no option to invest. Now that you know these apps, comment down below which one you like best and why!

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