If you’re looking for Digit alternatives, you’ve come to the right place. This article runs through 5 of the best options. Although it is a great micro savings app, you may not be a fan of its interface and may be looking for something different.
Along with our 5 Digit replacements, we’ve also discussed what you need to know about these applications.
What Are Some Digit Alternatives?
Discussed below are 5 excellent alternatives.
Qapital is one of the best personal financial services around. You can download it on both Android and iOS systems.
It lets you save according to your spending habits. Sharing your savings goals with friends and family would be possible too.
Cash would be moved from your checking account to one of Qapital’s. This will happen when certain rules have been triggered, via the IFTTT rule-based service.
In layman’s terms:
If you were to buy something for 50 cents, the cost would be round to the nearest dollar, and the difference would be sent to your savings account.
What we enjoy about the application is that you’ll be able to monitor your activity between all the financial accounts that you own.
Now, is it free? No. However, the basic plan only costs around $3 a month. You can buy the Complete plan for around $6 a month, and the Master plan will cost you around $12 monthly.
Although Qapital is great, keep in mind that there is no online support. You don’t get any interest on capital gain either.
You can use Pocketguard to manage your monthly spending, and even use it as a bill organizer too. Anyone can download it. It’s available on both Android and Apple app stores.
Once you make an account, you will have to link your bank account to it. This will let you get detailed reports on your finances.
You don’t have to worry about your account details getting stolen. There is a 256-bit encryption on its servers. Also, there are biometrics and PIN codes to ensure your safety.
Although there is a free version, you will benefit from buying a membership. There are more features that you would find useful, like being able to set unlimited goals, and even set different categories for your budget.
Chime is a great Digit alternative, and you can download it on both iOS and Android devices. With it, you’ll have access to mobile banking without having to pay any fees.
Something we like about it is that you will get a Visa debit card when you open an account. You will also have access to the Chime online banking service through its website.
As it doesn’t charge any fees, you may be wondering how it makes money. This would be through Interchange. So, you won’t be charged for overdrafts either.
Chime’s savings accounts have great APY, and opening a savings account would be easy. While on the topic, know that you have access to several saving targeted tools as well.
However, we wouldn’t recommend using Chime if you have a joint account. Its features aren’t the best for this.
Not only does Dobot monitor your finances, but it also puts money from your savings account aside depending on your spending.
Registering for an account would be easy. You’ll be able to set all kinds of savings goals, which will help you distinguish between each saving account that you’ve made.
You don’t need to worry about getting hacked. Dobot uses high level encryptions on its servers.
Downloading the app on both iOS and Android devices would be possible. Its services are free as well.
Do you have debt that you’re struggling to pay? Qoins advertises itself as the perfect app for people stuck with debt. According to the company, it has helped users pay off massive loans in as little as 2 years.
So, how does it work?
When you sign up for an account, you will have to set a financial goal (to figure out how much to put aside).Money from your account would then be transferred to help you reach this goal. The transfers will be small, so you won’t notice them.
Although the app advertises itself to users with debt, you can use it if you just want to be wise with your spending too. It’s a great tool for anyone who wants to improve their credit score.
Do you have to pay to use it? Yes. A monthly membership will cost around $3-5
From all the options our list, Mint is the most popular. It’s especially well-known amongst newbies. You’ll be able to link all your bank accounts to it, which it will then organize and monitor.
Not only can you monitor bank accounts, but also keep track of your credit cards and any investments that you may have.
Here’s an added benefit – Mint notifies you when your subscriptions increase. Anyone would appreciate this.
In case you’re wondering, its services are free. You can download it on both iOS and Android devices as well.
Answered below are some popular questions.
Are Money Saving Apps Safe?
It’s normal to be a little suspicious of money saving apps. After all, they will have access to your cash. However, you can trust them. Most fintech companies have heavy encryptions on their servers. Hackers wouldn’t be able to break through.
Also, most money saving apps are partnered with regulatory bodies to ensure that your cash is safe.
Are Money Saving Apps Worth It?
We’ve discussed some of the best savings apps on our list, but is using them worth it? To help you decide, give the below points a look.
1. Automated Savings
Money will be transferred automatically into a separate account created by the app. This would save you a lot of effort. With traditional banks, you’ll have to transfer the cash yourself, which can be a hassle.
2. Goal Based Savings
You can have different goal-based accounts, and use the applications to trackhow close you are to meeting these goals, as well as what you can do to improve this.
3. Open to All Adults
There are no income requirements, or a minimum amount in your bank account to register for these apps. Any legal adult can use them to improve their finances.
What Are Some Ways to Save Money?
If you’re looking for ways to save cash, the below points will help.
1. Use Apps
There are several apps that you can use. Digit is a good example, but you can use some of its alternatives too. They will help you stay on top of your finances, while transferring money from your bank account into designated funds for saving. Some of these apps would even add interest.
2. Don’t Eat Out
One of the best tips is to stop eating out. By cooking your own food, you will be forced to look for discounts when grocery shopping. Plus, you will be able to cut costs by cooking in bulk.
3. Look For Sales
Always look for sales. You’ll get what you want at a discounted rate. Of course, you’ll have to be patient, as they don’t come around often.
4. Credit Card
Do you have a credit card? Although you might not think it, it can help you save. For one, stores offer discounts for credit card users. Also, some cards have buyback – you will get a percentage off the amount you spent.
5. Get Rid Of Your Debt
If you have debt, most of your savings are probably being wastedon paying it. Getting rid of this issue should be a priority. Use some of the apps we discussed, such as Qoins.
6. Gift Cards
Is your birthday coming up? You can ask friends and family to give you gift cards as presents. Spend these on groceries and whatever you need, and save money. You don’t have to worry, as most gift cards take years to expire too.
7. Say Goodbye to Cable
Here’s the deal – most people don’t need cable. It’s expensive and you can find whatever you want to for half the cost, or even free online.
Streaming services like Hulu, Netflix and Disney+ are more affordable options, if you don’t want to pirate. You can use them all kinds of devices too.
8. Switch Your Lightbulbs
Something as simple as switching your lightbulbs can help you save. If you go for more energy efficient options, you won’t be hit with as big of an energy bill at the end of the month.
There are several apps that are good Digit alternatives. Some of the best include Chime and Qapital.
Not only did we discuss some alternatives that you can use, but also some tips and tricks to keep in mind to help you save. These include cutting down how often you eat out, as well as looking for sales, and making use of your credit card.