Updated September 28, 2020

Best Money Saving Apps

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If you may find yourself spending more than saving, these safe easy-to-use apps can help. What's the best money savings app for you? Read on to find out.

Groceries, gas, rent.

After paying bills, it's hard to squeeze anything more out of your budget.

That's where money saving apps can help you. They automatically set aside your money into a savings account for you. You can kick-start your emergency savings, vacation fund or even retirement.

Sorting through all the options gets overwhelming. Each app has different rules for budgeting.

To take control of your finances, let's unpack 5 of the best money saving apps. Check out their features, fees and who they're best for.

5 Proven Apps to Boost Your Savings:

🏆 Best Overall: Chime

Screenshot of Chime

Chime is a mobile app with a money saving app feature. When you sign up for Chime, you get a:

  • Checking Account
  • Visa Debit Card
  • Savings Account (Optional)

Its Save When You Spend program rounds up your purchases to the nearest dollar and deposits the "spare change" in your savings account.

You can also designate a certain percentage to save using Direct Deposit. Chime will automatically transfer the appropriate amount to your savings account.

What's better than automatic savings? Pairing it with automatic cash back. Find out how to use cash back apps to optimize your purchases and put more money back in your wallet.


  • Free to use and maintain account
  • $2.50 charge for over-the-counter or non-ATM network withdrawals
  • No overdraft fees, monthly maintenance fees, minimum balance fees or service fees


  • Instant access to your saved funds via the mobile app
  • Virtually no fees
  • Unlimited roundups of each purchase throughout the month
  • FDIC insured using banking services provided by The Bancorp Bank or Stride Bank, N.A
  • Have early access to your direct deposits (up to 2 days early)


  • There's no option for joint account holders
  • You can easily access your funds, which can be tempting
  • You must use a MoneyPass or Visa Plus Alliance ATM to avoid ATM fees

How to Get Started
  1. Download the Chime app
  2. Connect your funding account
  3. Turn on Automatic Savings to round up purchases
  4. Enjoy your savings

Free App: SmartyPig

Screenshot of Smartypig

SmartyPig is an online version of the piggy bank you had as a kid. Whether you have long-term goals like saving for a home or short-term goals, such as paying for Christmas gifts, SmartyPig makes it easy to achieve them.


  • Free to use


  • High-yield savings account rate tiers
  • No startup fees
  • No fees to save or withdraw funds
  • Savings accounts housed at Sallie Mae Bank with FDIC insurance
  • Earn $10 reward for each referral that successfully opens and contributes to an account


  • Withdrawals are easy, which can make it harder to reach your goals
  • You must allocate goals or the funds sit in your SmartyPig Primary account
  • You can only have one external funding source at a time

How to Get Started
  1. Register for an account with your mobile phone, Social Security number, and driver's license number
  2. Choose your savings goal or goals
  3. Set up a recurring bi-weekly or monthly deposit from a linked bank account
  4. Work toward your goal and enjoy the rewards

Best for Goals: Qapital

Screenshot of Qapital

Qapital believes in setting rules for your savings. These include:

    An "If This Then That" rule triggers savings upon certain actions

  • Apple Health Rules
    Set health goals in Apple Health that trigger savings every time you meet them.

  • Freelancer Rule
    Every time your pay is higher than a determined amount, Qapital will move a set percentage to your Goal account.

  • Spend Less Rule
    Set a budget for specific merchants and if you come in under budget at the end of the month, Qapital will transfer the difference to your savings account

When you sign up with Qapital, you get a Spending account with a linked Visa debit card, a Goals account for short-term planning, and an Invest account for longer-term goals.


  • Free 30-day trial
  • Basic: $3 per month—Qapital Save account only
  • Complete: $6 per month—Qapital Save, Spend and Invest account
  • Master: $12 per month—Qapital Save, Spend, Invest, and educational opportunities


  • FDIC insured
  • No account setup or overdraft fees
  • No limit on the number of transfers to and from your Qapital Goals account
  • Set up joint goals with family or friends
  • Qapital Invest automatically diversifies your portfolio based on your risk preference


  • Minimal interest rates
  • Pausing rules proves can be a little tricky
  • Deposits take a while to clear

How to Get Started
  1. Register for the chosen account based on the type of accounts you want
  2. Link your funding account (external checking account)
  3. Set your savings rules
  4. Watch your money grow

Best for Investments: Acorns

Screenshot of Acorns

Acorns rounds up your credit card purchases to the nearest dollar and saves the spare change for you. Once your balance reaches $5, the app invests the money based on your chosen portfolio.

Acorns offers three programs:

  • Invest: Round up your spare change and Acorns invests for you once you hit $5

  • Later: Set up recurring deposits and Acorns invests in an IRA according to your lifestyle and goals

  • Spend: The Acorns checking account with Visa debit card

You can earn "Found Money" by linking a debit or credit card to your Acorn Core account. If you shop at one of the 350+ merchants that partner with Acorns, you'll earn cash back into your Acorns account.


  • $3/mo for Acorns Personal (includes personal taxable account, IRA, and checking account)
  • $5/mo for Acorns Family (includes everything in Personal plus investment accounts for kids)


  • Great way to get your feet wet in investing
  • Set up recurring or one-time "boosts" to increase investments
  • Suggested portfolios based on answers to simple lifestyle questions
  • No minimum balance requirements or trading fees


  • Annual fee of 0.25% for balances over $5,000
  • Investment—not a savings—account so you could lose money
  • Withdrawals take time

How to Get Started
  1. Register for the chosen account
  2. Link your funding account (external checking account)
  3. Add a credit or debit card (if you wish)
  4. Start saving

Best for Automatic Savings: Digit

Screenshot of Digit

Digit uses artificial intelligence to evaluate your income and spending habits and determine how much you can save.The program even adjusts the amount you save daily to maximize your funds.


  • $5 per month with a free 30-day trial


  • FDIC insured
  • State-of-the-art security, including encrypted data
  • Adapts to your income and spending habits, taking the thinking out of saving
  • You can make as many withdrawals per month as you want
  • If you use Digit for three consecutive months, you get a 1% annualized bonus


  • Only works with banks within the United States
  • Risk of overdraft on your checking account—Digit only reimburses you for two overdrafts
  • No interest on your savings

How to Get Started
  1. Sign up for a Digit account
  2. Connect your checking account
  3. Digit analyzes your account for a few days
  4. After analyzing your account, Digit transfers the allotted money to your savings account automatically

Other Apps to Consider

© CreditDonkey

Tip Yourself

When you "tip" yourself, you transfer funds from your checking account to your "tip jar," or savings app. Tip Yourself isn't an automated savings app—you must click the button to transfer the funds.

The app helps you save money while recognizing your accomplishments. You can even share your wins on their social feed to get positive reinforcement. Tip yourself for making it to the gym, not overspending, sticking to your diet, or whatever you decide.


  • Free


  • Available on iPhones and Android phones
  • You choose the amount of the tip each time
  • You choose when you tip yourself
  • You can withdraw funds whenever you want or need to
  • Helps you maintain positive lifestyle habits


  • Withdrawals take up to three days to process
  • It's easier to skip saving when it's not automated
  • Your money doesn't earn interest


Start your kids on the right financial path with Kidfund. Download the app and set up regular contributions to your child's account. You choose the rules and can adjust them at any time. Family members can also gift funds right into the Kidfund account after you send an invitation link.


  • Free


  • FDIC insured
  • Earn 3% interest on the first $500
  • Receive savings reminders to keep you on track
  • No account minimums
  • Earn referral bonuses


  • Only available on iOS
  • ACH transfer is the only option for depositing funds
  • Funds aren't easy to withdraw

What to Look for in a Money Saving App

Make sure the app is compatible with your device. Most are mobile apps and some work exclusively on iOS or Android.

You are sharing private and important information, so pay close attention. Make sure there's bank level security and all data is encrypted.

FDIC Insurance
FDIC insurance ensures that you don't lose your money even if the bank goes out of business.

Consider the features carefully. Do you need automated savings? Do you want automatic round-up features or automatically calculated savings goals?

Bottom Line

If you struggle with savings, consider one of the many money saving apps available today. While most save automatically, you may find yourself paying more attention to your spending with regular use.

Write to Kim P at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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