Although most people understand how important and helpful it is to have savings set aside, actually budgeting for saving can be daunting, especially if you believe that your income is too low to set money from each paycheck aside. Now, an app called Digit can help you save money – and without you even realizing.
Here’s how Digit works. First, you set up an account and link Digit directly to your checking account. Then, you set parameters on how much money you’d like Digit to save for you and how often you’d like to receive notifications about your financial balances. From there, Digit will scan your spending history and identify when you get paid to establish a profile of your finances and learn when it can take money out of your account and add it to your Digit savings account. That’s right – Digit works by recognizing when you have enough money in your checking account that you won’t notice the absence of a few dollars, and it pulls these small amounts of money out of your account and puts them into your very own Digit savings account. Over time, you collect a significant amount of money (you can choose how much Digit should take out each time they move money to your savings), all without having to think about doing so. When you want to withdraw your money from your Digit savings account, simply text Digit the word ‘withdraw’ and let them know how much money you’d like moved back to your checking account. The next day, that amount will reappear in your bank account – and you’ll be very surprised and pleased to see how quickly small amounts of money add up into substantial savings!
This app is a game changer for a number of reasons. First and foremost, it makes it easier than ever before for people to save by automating the process of saving. Secondly, its smart technology means that it tailors itself to your needs and spending habits, which allows you to customize your experience with the app to your own liking. Lastly, Digit teaches us that it is not only possible, but very simple, to build savings just by setting aside a few dollars at a time. If you are having difficulty budgeting for savings, and you need assistance doing so, I highly recommend signing up for Digit and checking out its website here. It might make a world of difference to your financial health!