![TheCollegeInvestor_AllSizes_Best_Automatic_Savings_Apps_1200x628 automatic savings app](https://cdn.thecollegeinvestor.com/wp-content/uploads/2023/05/TheCollegeInvestor_AllSizes_Best_Automatic_Savings_Apps_1200x628.jpg)
Want to increase your savings? Technology can help you in the form of smartphone apps. We’ve rounded up 5 automatic savings apps that can help you save and invest more without constant thinking.
With these automated savings apps, you don’t have to think about where to save to save money. Of course, you can make lifestyle changes yourself, such as eating less at restaurants or cutting unnecessary subscriptions. But these apps can help automate the savings process.
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1. Best Keep The Change App: Chime
![chime bank review Best Automatic Savings App: Chime](https://cdn.thecollegeinvestor.com/wp-content/uploads/2016/11/Chime-Bank-REview.png)
Many apps have a “keep your change” feature that rounds all purchases to the nearest dollar. The “change” from your purchase will be credited to your savings or investment account. Many apps offer this feature, but Chime is our favorite change keeping app.
chime Offers a free bank account, savings account pays 2.00% APY (for now). With Chime, you can not only “put your change in the savings jar”, but also easily save a portion of each paycheck.
When you don’t have a lot of money, saving even a little helps. Over time, you may have enough money in your Chime savings account to start investing for your retirement.
Read our Chime review here.
2. Best Automated Investing App: Wealthfront
![Wealthfront logo Best Automatic Savings App: Wealthfront](https://cdn.thecollegeinvestor.com/wp-content/uploads/2018/11/wealthfront-logo.jpg)
If we’ve learned anything from David Buck’s Automatic Millionaire, it’s that automation is the key to wealth building. Thankfully, auto investing has never been easier. Our favorite free brokerage firm and all these robo-advisors will automatically save and invest for your future.
You can’t go wrong with any automated investment platform, but Wealthfront stands out as the easiest and most cost-effective automated investment platform. Automatically invest in your retirement, college savings, or brokerage account for as little as 0.25% annual fee. Plus, take advantage of Wealthfront’s ultra-high cash savings rate.
This app is not free and also has a text message based interface.
3. Best Micro Investment App: Acorns
![acorn Best automatic savings app: acorns](https://cdn.thecollegeinvestor.com/wp-content/uploads/2017/05/acorns.png)
Micro-investments involve investing small amounts of money to build a large nest egg over time. Acorn provides a banking and investment platform that allows you to invest your change for as little as $3 per month. In addition to rounding up deals (allowing you to invest smaller amounts), you can invest as little as $5 at a time, allowing you to build your investment portfolio faster.
The $3/month fee is pretty steep when you’re just starting out, but when you invest $15,000 in Acorn, it’s cheaper than most robo-advisors (and offers similar services).
The Acorns app isn’t worth the money if you only use the change feature, but if you invest $5 a day, Acorns is a great micro-investment app.
Check out her review of the Acorns app.
4. Best app to start an emergency fund: SaverLife
![SaverLife+Logo_Black+Font+Pink+Logo Best savings app for emergency funds: Saverlife](https://cdn.thecollegeinvestor.com/wp-content/uploads/2023/05/SaverLifeLogo_BlackFontPinkLogo.png)
In general, building an emergency fund is the first step to financial freedom. Having an emergency fund means you’re out of a precarious financial situation. With an emergency fund, you no longer have to live from check to check.
Prepare for unexpected expenses without going into debt. saver life is an app that uses gamification to help users save money.
By participating in SaverLife App Challenges, you’ll be eligible to win prizes ranging from $50 to $1,000. On top of that, you will also learn about money while saving.
5. Great for Multiple Savings Goals: Present
![Current_wordmark_black Best Multi-Goal Savings Apps: Right Now](https://cdn.thecollegeinvestor.com/wp-content/uploads/2023/02/Current_wordmark_black.png)
If you’re working toward multiple savings goals, Current may be the bank for you. Current allows you to automatically send money to your savings pod using Roundup. You can also set up automatic transfers from your spending account to your savings pod.
This savings pod pays a high interest rate of 4.0% APY up to $6,000. With high interest rates and easy savings mechanisms, Current is the bank of choice for young people who want to save for travel, car and wedding all at once.
Other Ways You Can Automatically Save Money
Apps can help you save money, but you don’t necessarily need them to automate your finances. Here are four great ways to save money without downloading new apps.
401,000 donations
Start investing by donating to your 401k (or another retirement plan at work) and hopefully collect a match from your employer. 401,000 contributions are automatically the best way to save and invest in the future if your employer offers matching terms.
Contribution of HSA
In addition to your 401k, you may be eligible to contribute to a tax-advantaged health savings account (which may be an investment account). Investing in HSA is a great way to save money on healthcare and invest in your future.
Split your salary into multiple accounts
Many employers allow you to split your paycheck into multiple accounts, including your savings. If he wants to deposit $200 into his travel account every two weeks, he can ask the payroll company to do the work.
Putting a portion of your paycheck into your savings account is a sure way to save money every time you get a check.
automatic investment contribution
No matter how much you earn, you can find ways to automatically invest some money each month. Setting up automatic investment contributions at a brokerage firm can help you save for retirement, build an accessible brokerage account, and build other wealth.
With automatic investment contributions set up, you no longer have to rely on willpower to cut your spending. As soon as the money is out of your account, you will be adjusting your lifestyle to make up for the missing funds.
Disclaimer
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank or Stride Bank, NA. FDIC member