The Best Money Saving Apps: 2024 Guide

Money-saving apps make managing your finances more effective and easy. They help you budget, save, and invest with just a few clicks. Whether you’re looking to maximize your savings or find the best deals for your shopping sprees, there’s an app tailored to meet your financial objectives. Dive into our list, complete with their advantages, drawbacks, and features, to discover the perfect financial companion that aligns with your lifestyle and goals. Let’s embark on a journey to financial savvy, making every cent count in the smartest way possible.

Table of Contents
1. Best Money Saving Apps
2. How To Choose the Best Money-Saving App
3. How Money Saving Applications Work
4. It's Time To Learn How To Manage Your Money
5. FAQs

Best Money Saving Apps

Best Overall

Mint

Mint is a widely acclaimed personal finance app that offers a comprehensive overview of your financial situation.

It connects to your bank accounts, credit cards, loans, and investments to track your spending, categorize transactions, and provide insights into your financial habits.

Mint also helps you create and manage budgets, setting goals for different spending categories. Features like bill tracking and payment reminders ensure you never miss a due date.

Additionally, Mint offers free access to your credit score, providing tips to improve your financial health.

• Pros:

  • Comprehensive budgeting tools and financial overview.

  • Automatically categorizes transactions.

  • Offers credit score tracking.

  • Free to use.

• Cons:

  • Some users report issues with account synchronization.

  • Advertisements and product recommendations can be intrusive.

You Need A Budget (YNAB)

YNAB is a budgeting app built on the philosophy that every dollar should have a job. It encourages proactive budgeting and planning, helping users allocate funds for expenses, savings, and debts.

Unlike traditional budgeting systems, YNAB focuses on giving you control over your money, helping to break the paycheck-to-paycheck cycle and reduce financial stress.

It offers detailed reports to track your progress and learn from your spending. YNAB's strong emphasis on financial education, through webinars and a supportive community, makes it a powerful tool for improving financial literacy.

• Pros:

  • Emphasizes budgeting to give every dollar a job.

  • Offers detailed reports to track financial progress.

  • Active community and educational resources.

• Cons:

  • Monthly or annual subscription fee.

  • Has a learning curve for new users.

Acorns

Acorns is an investment app that makes investing accessible to everyone, especially beginners. It automatically invests your spare change by rounding up purchases made with linked credit or debit cards.

Users can also set up recurring investments or make one-time contributions. Acorns offers diversified portfolio options managed by experts, fitting various levels of risk tolerance.

The app includes educational content to help users understand investing basics, making it easier to grow wealth over time.

• Pros:

  • Rounds up purchases to invest the spare change.

  • Offers diversified portfolio options.

  • Includes educational content to help users learn about investing.

• Cons:

  • Monthly fee, which may not be cost-effective for small account balances.

  • Limited investment control.

Ibotta

Ibotta is a cash-back app that rewards users for their everyday purchases, both in-store and online.

By uploading receipts, linking loyalty accounts, or making purchases through the app, users can earn cash back on groceries, clothing, travel, and more.

Ibotta partners with a wide range of retailers and brands, offering flexibility in saving. It has become a popular tool for those looking to save money on routine purchases without clipping coupons.

• Pros:

  • Provides cash back on groceries, online shopping, and more.

  • Wide range of participating retailers.

  • Easy to use with barcode scanning and receipt photo uploads.

• Cons:

  • Requires effort to browse offers and verify purchases.

  • Cashback can take time to process.

Honey

Honey is a browser extension and mobile app that automatically finds and applies coupon codes at checkout for thousands of online stores.

By aggregating available discounts and applying the best one, Honey ensures users always get a great deal. In addition to finding coupons, Honey offers a rewards program called Honey Gold, which you can redeem for gift cards.

Its ease of use and the ability to save money without effort make Honey a favorite among online shoppers.

• Pros:

  • Automatically finds and applies coupon codes at checkout for online shopping.

  • Offers cash back in the form of Honey Gold.

  • Browser extension is easy to install and use.

• Cons:

  • The retailer can make savings hit or miss.

  • Some privacy concerns regarding data collection.

PocketGuard

PocketGuard is a budgeting app that helps users manage their finances more effectively by tracking all their income, expenses, and savings in one place.

It links to your bank accounts to provide a real-time view of your financial status, identifying where you can cut expenses and how much money you have for spending ("In My Pocket").

PocketGuard's features include bill negotiation tools, subscription tracking, and personalized savings insights, making it easier to achieve your financial goals.

• Pros:

  • Helps users track spending and identify savings opportunities.

  • Can link all accounts for a consolidated financial view.

  • Offers features to lower bills and track subscriptions.

• Cons:

  • Some features require a subscription to PocketGuard Plus.

  • Limited investment tracking capabilities.

Digit

Digit is an automated savings app that analyzes your spending habits and transfers the perfect amount from your checking account to Digit savings without overdrafting.

It sets aside money for savings goals, unexpected expenses, and even debt payments. Users can set specific financial goals, and Digit works quietly in the background to help you reach them.

Its user-friendly interface and smart savings algorithm take the guesswork out of saving, making it ideal for those looking to save money effortlessly.

• Pros:

  • Automated savings based on your spending habits.

  • Offers overdraft prevention by analyzing upcoming bills.

  • Easy to use with a simple, intuitive interface.

• Cons:

  • Monthly subscription fee after a free trial period.

  • Savings might be too aggressive for some users.

Each of these apps offers unique features tailored to different financial goals, whether it's budgeting, saving, investing, or finding discounts. Choosing the best app depends on your financial situation and goals.

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Best For Groceries

Grocery shopping can take a big bite out of your budget, but with the right apps, you can turn this routine task into an opportunity for savings.

Fetch Rewards

Fetch Rewards simplifies the process of saving by allowing users to earn points for scanning any grocery receipt. You can redeem points for gift cards to popular retailers., making Fetch Rewards a versatile option for shoppers.

• Pros:

  • Very user-friendly; any receipt from any store is eligible.

  • Offers a wide variety of redemption options.

  • Includes occasional bonuses for specific brands or products.

• Cons:

  • Points may accumulate slowly depending on shopping habits.

  • Gift card rewards mean you don’t get direct cash back.

Flipp

Flipp aggregates weekly ads, coupons, and deals from over 2,000 retailers, including grocery stores. Users can search for specific items or browse deals by store, making it easy to plan shopping trips around sales.

• Pros:

  • Helps users find the best deals on groceries and household items.

  • Ability to create a shopping list directly in the app and find relevant deals.

  • Offers coupons for additional savings.

• Cons:

  • Savings depend on the user’s willingness to plan and browse deals.

  • No direct cash back or rewards.

Checkout 51

Checkout 51 offers cash back on groceries and household products. Each week, the app updates with new offers that users can claim by purchasing the products and uploading a receipt.

• Pros:

  • Add new offers weekly.

  • Easy to navigate and claim cash back.

  • Includes a variety of products, not just groceries.

• Cons:

  • A limited number of offers available each week.

  • Must reach a $20 threshold to cash out.

Coupon Mom

Coupon Mom is a website and app that combines deals from across the web, including printable coupons, digital coupons, and grocery deal matchups, to help users save the most on their grocery shopping.

• Pros:

  • Extensive database of coupons and deals.

  • Offers tutorials and strategies for maximizing savings.

  • Free to use.

• Cons:

  • Requires time and effort to search for and organize coupons.

  • Some deals may be specific to certain regions or stores.

Each of these apps offers a unique approach to reducing your grocery bills, whether through direct cash back, points redemption, or strategic use of coupons and deals.

By integrating one or more of these tools into your shopping routine, you can start seeing significant savings over time.

Best For Shopping

Shopping smartly not only means finding the best deals but also leveraging technology to ensure you're getting the most bang for your buck

Rakuten (formerly Ebates)

Rakuten offers cash back at over 2,500 stores when you shop through their app or website. It also provides access to coupons and deals to maximize savings.

• Pros:

  • Wide range of participating retailers.

  • Offers a significant percentage of cash back on purchases.

  • Includes a welcome bonus for new users.

• Cons:

  • Issue cash-back payments quarterly., not immediately.

  • Some users may forget to shop through the app or website.

RetailMeNot

RetailMeNot is a coupon and cash-back app that aggregates discount codes, coupons, and cash-back offers for both online and in-store shopping.

• Pros:

  • Extensive collection of coupons and deals for a wide variety of stores.

  • User-friendly interface.

  • Offers both online and in-store coupons.

• Cons:

  • Some coupons may not work as advertised.

  • Cash-back offers may require additional steps to verify.

Shopkick

Shopkick rewards users with "kicks" (points) for walking into stores, scanning items, making purchases, or shopping online. You can redeem points for gift cards.

• Pros:

  • Offers a fun way to earn rewards just by walking into stores or scanning items.

  • Multiple ways to earn points.

  • Wide selection of redemption options.

• Cons:

  • Earning significant rewards can take time.

  • Requires active participation to earn points.

CamelCamelCamel

CamelCamelCamel is a price-tracking tool specifically for Amazon products. It allows users to view price history charts and set up price drop alerts.

• Pros:

  • Helps users buy at the best possible time by tracking price fluctuations.

  • Offers browser extension for ease of use.

  • Free to use.

• Cons:

  • Only useful for Amazon products.

  • Does not offer cash back or direct savings.

Capital One Shopping (formerly Wikibuy)

Capital One Shopping is a browser extension and app that searches for better prices and coupon codes across other sellers while you shop online, especially useful on Amazon.

• Pros:

  • Automatically searches for and applies coupon codes at checkout.

  • Compares prices across multiple retailers.

  • Offers provide reward credits that you can redeem for gift cards.

• Cons:

  • Primarily beneficial for online shoppers.

  • The rewards system can be less direct than straightforward cash back.

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How To Choose the Best Money-Saving App

Navigating the sea of money-saving apps can feel overwhelming. With so many options, how do you pick the one that's right for you?

It boils down to understanding your financial goals, habits, and what you most need in an app—be it budgeting, saving, investing, or managing expenses.

Savings Goals

Setting clear savings goals is the first step towards financial empowerment. Whether you're saving for a rainy day, an emergency fund, or a dream vacation, the right money-saving app can help you get there.

Look for apps that allow you to set and track specific goals.

Some apps even offer the motivation of visual progress bars and reminders to keep you on track. Remember, a goal without a plan is just a wish, and the best apps turn those wishes into achievable targets.

Budgeting Tools

A solid budget is the foundation of good financial health. Money-saving apps with robust budgeting tools can help you manage your income, expenses, and savings all in one place.

Seek out apps that offer customizable budget categories, so you can tailor your budget to fit your unique lifestyle.

Also, consider apps that provide insights into your spending habits, offering suggestions on where you can cut back and save more.

Investment Account Integration

For those looking to grow their wealth, integrating your investment accounts with your money-saving app can provide a comprehensive view of your finances.

Apps that allow you to link investment accounts not only help you track your savings but also give insights into your overall financial portfolio.

This can be particularly useful for managing and rebalancing investments based on your financial goals and risk tolerance.

High Yield Savings Accounts

Don't let your savings languish in a traditional savings account earning minimal interest. Many money-saving apps now offer or connect you with high-yield savings accounts, where your money can grow faster.

These accounts typically offer higher interest rates compared to traditional savings accounts, making your money work harder for you.

Safety and Security

In the digital age, the security of your financial information is paramount. Ensure the money-saving app you choose employs bank-level encryption and security measures to protect your data.

Additionally, look for apps that are transparent about their security protocols and have a strong track record of safeguarding user information.

Free vs. Paid Features

Many money-saving apps offer a free version with basic features, with the option to upgrade to a paid subscription for more advanced tools.

Consider starting with the free version to gauge the app's usefulness for your financial situation. If you find the app valuable, then consider whether the additional features of the paid version are worth the investment.

Avoiding Fees

Lastly, be wary of apps that charge unnecessary fees, such as monthly maintenance fees or high transaction fees.

These can eat into your savings over time. Opt for apps that keep fees to a minimum or, better yet, offer their services for free.

Choosing the best money-saving app is a personal decision that depends on your financial goals, habits, and preferences.

By considering these key factors, you're well on your way to finding an app that not only helps you save money but also supports your overall financial wellness journey.

How Money Saving Applications Work

In today's fast-paced world, managing finances efficiently is more important than ever.

Money-saving applications, or "apps," have emerged as a crucial tool in this endeavor, offering a wide range of features designed to help users save money, track spending, and achieve financial goals.

Let's delve into how these apps work and explore their key components.

Bank Account Integration

Most money-saving apps begin with a simple step: linking your bank accounts.

This foundational feature allows the app to provide a comprehensive view of your finances, from checking and savings accounts to credit cards and loans.

By securely connecting your financial accounts, these apps can analyze your spending patterns, categorize transactions, and offer personalized savings advice.

Savings Account Automation

A core functionality of many money-saving apps is the automation of savings. These apps can help you set aside a portion of your income or spare change from transactions into a savings account.

This process is often seamless, requiring minimal input from the user, which makes saving money a hassle-free part of daily life.

Budgeting Tools

Effective budgeting is at the heart of financial wellness. Money-saving apps offer sophisticated budgeting tools that allow you to create customized budgets based on your income, expenses, and financial goals.

These tools can track your spending in real-time, alerting you when you're close to exceeding your budget, thus enabling more disciplined financial management.

Investment Account Features

Beyond savings and budgeting, some money-saving apps offer features related to investing. These may include the ability to link investment accounts, view portfolio balances, and even make simple investments directly from the app.

This integration helps users see the bigger financial picture, making it easier to balance saving with growing wealth.

Security Measures

Given the sensitive nature of financial data, the safety of money-saving apps is a paramount concern. Reputable apps employ bank-level encryption and other security measures to protect your information from unauthorized access.

Before committing to an app, it's crucial to research its security protocols to ensure your financial data remains secure.

Choosing the Right App

With so many money-saving apps available, choosing the best one can feel overwhelming. The key is to identify your financial needs and goals.

Are you looking to track spending, save money automatically, invest spare change, or avoid overdraft fees?

Each app has its strengths, and the best choice for you depends on which features align most closely with your personal financial goals.

Free vs. Paid Versions

Many money-saving apps offer both free and paid versions.

The free version might include basic features, such as expense tracking and budgeting, while the paid version unlocks advanced features like personalized financial advice, investment tracking, and premium budgeting tools.

Consider starting with the free version to assess the app's value to your financial life before upgrading.

It's Time To Learn How To Manage Your Money

Money-saving apps have revolutionized the way we approach personal finance, offering a convenient and effective means to track spending, save money, and invest for the future.

These digital tools simplify the process of managing finances by automating savings, providing budgeting insights, and even finding discounts on everyday purchases.

By making financial management accessible and engaging, these apps play a crucial role in helping users achieve their financial goals, whether that's building an emergency fund, saving for a major purchase, or planning for retirement.

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FAQs
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