So, I get it. You want to get yourself out of the whole paycheck-to-paycheck habit. It’s hard. There’s never quite enough money left over to open a dedicated savings account, and I always had issues leaving the money in my checking account the hell alone. I feel your pain.
What if I were to let you in on a secret. There is a way to have a savings account, without having to open one. No minimum balance. No service fees. And it works. And I love it.
Welcome to HelloDigit, my friend! It’s an app that will analyze your spending habits and will deduct small amounts of money from your checking account to hold for you as a savings account. It accrues a small amount of interest, andif you have an emergency, it only takes a business day to transfer however much you need back into your checking account. No transfer fees either. How convenient.
And when I say a small amount, I’m talking small. My first Digit savings transaction was 75 cents. Honestly, I don’t even notice the money missing from my account, but when I log into the app, it shows me how much has been saved- and that amount has gradually become pretty sizeable over the last several months.
It tracked my spending habits for about three weeks before the first withdrawal was made. It knows when I get paid, how much I spend on gas, and I can even tell it to pause its saving functions if I know imtgoing to have extra expenses for any given period of time. The app comes with an array of commands that let you tailor it’s behavior to your needs. It took about 2-3 more weeks of tweaking to where the app and I reached the right balance, and I couldn’t be happier with it.
Here’s a link. The app and service is 100% free, and every cent you save in the account, you can transfer back to your checking if you decide you don’t like it. But I doubt that will be the case. This app has almost single-handedly built up my financial stability