Saving money is something that everyone wants to do in this digital age. Fortunately, there are many apps that can help consumers do exactly that. Some of these apps help invest, like Acorns. Some apps help with long-term saving, like Qapital, and some are just simple to use, like Digit. 

Acorns help people save money by rounding purchases up to the nearest whole dollar and investing the so-called “spare change” leftover. For example, if your purchase was $5.61 after-tax, an Acorns account would charge $6 to your checking account and invest the remaining 39 cents. Acorns are useful for people starting to invest because they use small amounts of money to build an investment portfolio. 

Qapital encourages its customers to build more wealth by taking a set amount from a linked account to one of their accounts every time you purchase something. For example, if you have Qapital set up and buy $5 worth of groceries, you can add $5 to a Qapital account. To be clear, this money will still come from your account, but it will go into an account with a higher interest rate than a standard checking account. 

The Digit app analyzes spending habits and income patterns to determine how much should be transferred into a Digit account. For example, if you use direct deposit, the Digit app will automatically take a calculated amount of money out of that deposit and place it in one of their accounts. The good news is that Digit offers a 0.10% annualized savings bonus paid every 90 days, so you will be paid to save with Digit. The bad news is that Digit does not include emergency or maintenance spending, such as hospital bills or new tires for your vehicle. 

All these apps have positives and negatives, but it is possible to use them to grow your wealth. Digit is useful because you don’t have to calculate how much to save, Qapital is helpful for larger investments than Acorns, but Acorns can help new investors start building their wealth.