Saving money has never been more crucial, whether it’s for a rainy day, a dream vacation, or long-term financial security. The best app for saving money can help you reach your savings goals faster and more efficiently.

These apps apply a myriad of techniques to not only simplify saving money but also make it more enjoyable. In this article, we will explore the top money-saving apps of 2024.

We will examine their features, benefits, and why they stand out. Whether you’re an experienced saver or just getting started, there’s an app here for you.

Do Money Saving Apps Work?

Money-saving apps have massively changed the conventional ways of managing finances. These apps offer various tools and features designed to help you track expenses, set budgets, and save automatically.

So yes, money saving apps work. They provide real-time insights into your spending habits and financial health which makes it easier to reach your financial goals. Here are a few key reasons why you should consider using the best app for saving money:

• Convenience: Automate your savings and manage your finances from your smartphone.
• Insights: Gain a better understanding of your spending habits.
• Motivation: Set and track financial goals, making saving money more engaging and rewarding.
• Savings: Take advantage of features like round-ups, cash-back offers, and bill negotiation to save more effectively.

What Features should a Money Saving App Have?

When choosing the best app for saving money, it’s essential to consider the features that best align with your financial goals. Here are some top features to look for in a money saving app;

• Budgeting Tools: The best app for saving money should be able to help you set up a budget and stick to it. These tools should offer a way to track your income and expenses, categorize your spending, and adjust as needed. This way, you can easily see where your money is going and make informed decisions.
• Savings Goals Tracking: The best money saving app allows you to set specific savings goals, whether it’s for a vacation or an emergency fund. They should provide visual progress updates and reminders to keep you motivated.
• Cash-Back Offers: Cash-back offers are fantastic for saving effortlessly. Find money saving apps that offer cash-back on your everyday purchases. This feature helps you earn a little extra money without changing your spending habits.
• Automatic Savings: Automatic savings features are a must when you’re hunting for the best app for saving money. This feature allow money saving apps  to automatically transfer a set amount from your checking account to your savings account. This means you save consistently without even thinking about it.
• Expense Tracking: This feature helps you monitor where your money goes. Look for apps that provide detailed reports on your spending habits, so you can spot trends and adjust your budget accordingly.
• Investment Accounts: Opportunities for investing can grow your savings over time. A good app for saving money should offer investment opportunities that allow you to put your money to work and potentially increase your returns.
• High-Yield Accounts: This feature is essential for maximizing interest earnings. Apps that provide high-yield savings or checking accounts can help your money grow faster compared to traditional accounts.

Top Picks of the Best Apps for Saving Saving Money in 2024

1.      Quicken Simplifi

Quicken Simplifi is your all-in-one personal finance manager. Imagine being able to see your entire financial picture in one place—bank accounts, credit cards, and investments, all synced and updated in real time.

That’s what Simplifi offers. It’s designed for people who want to streamline their finances and take control without the hassle.

With Simplifi, you can create detailed monthly spending plans that cater to your lifestyle. You can track your bill payments, set personalized savings goals, and monitor your progress.

What’s more, the app is user-friendly, and plans start at just $2.39 a month. Plus, if you’re switching from Mint, you can get a 3-month free trial and 50% off. That’s a deal you don’t want to miss.

2.      Upside

Upside is like having a personal savings assistant that finds cash-back deals for your everyday purchases. Need to fill up your gas tank? Just open Upside, tap “claim” on an offer from a local gas station, and pay with your linked credit or debit card. It’s that simple.

Imagine you’re on a road trip. You stop at a gas station, claim an offer on Upside, and save money just by doing what you were going to do anyway.

The savings add up, and you can cash out your earnings to your bank account, PayPal, or even get a gift card. While cash-outs aren’t instant, they’re convenient and worth the small wait. And for small cash-outs, there’s a $1 fee, which is quite reasonable considering the savings you get.

3.      BillTrim

BillTrim is your go-to app for cutting down those pesky bills. Think of it as having a professional negotiator in your corner.

BillTrim works by linking your bills and bank account, automatically paying your bills, and finding ways to save you money. For a one-time fee of $99, BillTrim will negotiate with your service providers to lower your bills.

They don’t take a cut of your savings, so whatever they save you goes straight to your pocket. It’s like finding hidden money every month.

4.      Acorns

Acorns is perfect if you want to dip your toes into investing without the hassle. The app rounds up your everyday purchases to the nearest dollar and invests the difference.

It’s like turning your spare change into a growing investment portfolio. For example, if you buy a coffee for $3.50, Acorns will round it up to $4 and invest the $0.50.

Over time, those small amounts add up and can grow significantly. Acorns offers three subscription plans ranging from $3 to $9 per month, making it accessible for everyone.

The app also provides a diversified portfolio managed by top investment firms. It’s an excellent way for beginners to start investing and build a habit of saving and investing spare change automatically to double their money without risk.

5.      Rocket Money

Rocket Money is your personal expense tracker. It helps you keep tabs on where your money is going by analyzing your billing history and identifying subscriptions you no longer use.

The app offers tools to track your spending, create budgets, and automate your savings. The app’s premium subscriptions range from $3 to $12 per month.

However, the free version provides plenty of value. It’s a very good alternative to Mint as it offers comprehensive financial management tools to help you stay on top of your finances effortlessly.

6.      You Need a Budget (YNAB)

YNAB is a powerhouse when it comes to budgeting. It’s based on four key rules: give every dollar a job, embrace your true expenses, roll with the punches, and age your money.

This method helps you manage your finances more effectively. With YNAB, you connect all your accounts in one place, which makes it easy to track your spending and saving habits.

New users typically save $600 in their second month and $6,000 in their first year. That’s substantial!

Here is how to save $6000 in 3 months!

The app costs $14.99 per month or $99 annually, with a free 34-day trial. It’s an investment in your financial future that pays off quickly.

7.      Guac App

The Guac App turns saving money into a game. Every time you spend, a small percentage is automatically transferred into your savings.

It’s a painless way to build up your savings without thinking about it. You can set specific goals and use the Guac Marketplace to make purchases and earn cash back.

Whether you’re saving for a vacation, a new gadget, or just a rainy day, Guac makes it easy. Let’s take for example you want to use Guac to save money during pregnancy.

Every time you buy coffee or groceries, a little bit will go into your savings fund. The app offers a free version and a pro version for $4.99 per month which makes it an affordable way to save while you spend.

8.      Revolut

Revolut is a fully automated robo-advisor that makes investing simple. You start with just $100, set up recurring deposits, and let the app do the rest.

It’s perfect for those who want to invest but don’t have the time or expertise to manage their portfolio actively. Revolut provides a diversified portfolio that matches your risk appetite and automatically rebalances it to keep you on track.

Also Read: How to Stop Living From Paycheck to Paycheck

The management fee for Revolut is 0.25% per year, with a minimum monthly fee of $0.25. It’s a low-cost way to grow your investments hands-free. You can start with a small amount and watch your investment grow over time without having to worry about market fluctuations or rebalancing your portfolio.

9.      Qapital

Qapital is all about goal-oriented saving. You create unlimited, personalized savings goals and set rules to trigger automatic savings.

For example, you can save your spare change every time you make a purchase or set aside a portion of your paycheck. Qapital also allows for shared savings goals which makes it perfect for couples or partners working towards a common goal.

Imagine saving for a vacation together with your partner—Qapital makes it easy and fun. Monthly subscriptions range from $3 to $12, providing flexible options for different needs.

10.  Oportun (formerly Digit)

Oportun uses AI to make saving effortless. The app analyzes your income and spending habits to calculate how much you can afford to save.

Then, it regularly moves small amounts of money from your checking to your savings account when it’s safe to do so. You may not even notice the small transfers Oportun is making until you see your savings grow significantly over a few months. It costs $5 per month, with a free 30-day trial available.

Also Read: How to use AI to Help with Retirement Investing

11.  Rakuten

Rakuten is a must-have for anyone who loves shopping and saving money. For many people, it is the best app for saving money as it offers cashback, deals, and coupons at over 3,500 stores.

By shopping through the Rakuten app, browser extension, or website, you can earn cash back on online and in-store purchases. A good use case scenario is using Rakuten to buy holiday gifts and earning cash back on every purchase.

Payments are made every three months via check or PayPal, which makes it a convenient way to save on everyday purchases. Rakuten is free, easy to use, and makes saving money a breeze. Whether you’re shopping for groceries, clothes, or electronics, Rakuten helps you get the most out of your money.

12.  Level

Level gives you real-time updates on your spendable cash by syncing with your checking or savings account. The app calculates your average daily spend and estimates how much you can spend over the next week or month.

The Insights section will show you exactly how much you’re spending and help you adjust your budget. Level is available on iOS and Android, making it accessible for everyone.

13.  Unsplurge

Unsplurge is a unique savings app that focuses on goal-oriented saving with visual and community elements. Set your savings goal, enter an amount, and upload a photo.

The Town section lets you see other users’ savings goals, adding a community element for motivation. For instance, you can set a goal to save for a new bike and share it on Unsplurge.

Seeing others’ progress and sharing yours can keep you motivated. Unsplurge also qualifies as the best app for saving money as it offers savings tips, such as the 52-week money challenge, which makes it a fun and interactive way to save. It’s available on iOS.

14.  Toshl Finance

Toshl Finance lets you create customized budgets and spending plans. By manually entering every expense and income, you get a clear picture of your finances.

The app organizes your expenses by tags, making it easy to track where your money goes. Toshl is available on iOS, Android, Symbian, and Windows.

15.  Daily Budget

Daily Budget takes a minimalist approach to budgeting. The app calculates a daily budget based on your income and recurring expenses.

You set a percentage of your income for savings, and the app breaks it down into daily and monthly targets. For many people, the minimalist design is what makes it the best app for saving money as it helps them focus on their financial goals without getting overwhelmed. Daily Budget is available on iOS.

How to Choose the Best App for Saving Money

Choosing the best app for saving money depends on your specific needs and financial goals. Here are some tips to help you decide:

• Identify Your Goals

First, think about what you really want to achieve. Are you saving for a vacation, trying to stick to a budget, or looking to invest in spare change?

For instance, if you want to save up for a dream vacation, an app like Unsplurge, which lets you visualize your goal, could be perfect. On the other hand, if you’re looking to manage your day-to-day spending better, an app like YNAB might be your go-to.

• Evaluate Features

Next, consider what features matter most to you. Do you need automatic savings, cash-back deals, or detailed expense tracking?

For example, if you often shop online, the best app for saving money would be an app like Rakuten, which offers cash-back deals, can save you money on every purchase. If tracking every dollar spent is your priority, Simplifi’s expense tracking tools might be a better fit.

• Consider Usability

Usability is key. You want an app that’s easy to navigate and doesn’t feel like a chore to use. If you’re not tech-savvy, an app with a clean, intuitive interface like Daily Budget can make managing your finances less overwhelming and more straightforward.

• Check Compatibility and Read Reviews

Ensure the app works with your devices and syncs with your bank accounts. There’s nothing worse than falling in love with an app only to find out it doesn’t sync with your bank or isn’t available on your phone.

That said, don’t skip the reviews. User feedback can tell you a lot about the app’s reliability and effectiveness. Look for patterns in reviews; if many users praise or criticize the same features, it’s worth considering.

Are Saving Apps Safe?

Security is a top priority when using financial apps, and money saving apps are no exceptions. However like many people you may be wondering, are saving apps safe?

The answer is yes, money saving apps are safe. The best apps for saving money use advanced security measures to protect your data. But that isn’t enough. To ensure your financial data remains secure, here are a few tips to keep in mind when looking for the best app for saving money;

• Use Strong Passwords: There is no best app for saving money that is entirely secure. Think of your password as the key to your front door. You wouldn’t use a flimsy key, right? The same goes for your financial apps. Create passwords that are unique and tough to crack. Instead of “password123”, try something like “Tr3eH0us3!2024”. It’s like adding an extra deadbolt to your door.
• Enable Two-Factor Authentication: This is like having a security system in addition to your deadbolt. Even if someone figures out your password, they still need a second piece of information, like a code sent to your phone. It’s a small extra step that makes a big difference in keeping your accounts safe.
• Monitor Account Activity: Picture this: you’re keeping an eye on your front yard, checking if anything looks out of place. Do the same with your accounts. Regularly review your transactions to catch any unauthorized activity. I once noticed a small, unfamiliar charge on my credit card. It turned out to be the start of fraudulent activity, but because I caught it early, I could stop it quickly.
• Choose Trusted Apps: Just like you wouldn’t buy a car without reading reviews, don’t download any app that pops up when you search; best app for saving money in 2024. Look for apps with lots of positive reviews and high ratings. For instance, apps like Quicken Simplifi and Acorns are highly rated for good reason—they’ve built trust with users over time.

Frequently Asked Questions (FAQs)

• What is the best app to help save money?

The best app for saving money depends on your specific needs. Acorns is great for investing spare change, YNAB is excellent for budgeting, and Rakuten offers fantastic cash-back deals.

• What is the best round-up app for saving money?

Acorns is the best round-up app, as it automatically invests your spare change.

• Is it safe to use money-saving apps?

Yes, reputable money-saving apps use advanced security measures to protect your financial data. However, even with the best app for saving money, always use strong passwords and enable two-factor authentication for added security.

• How do I choose the right app for my needs?

Identify your financial goals, evaluate the app features, consider usability, check compatibility with your devices, and read user reviews to find the right app for you.