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2020 will have more money saving mobile apps than ever before. Finding the best money saving app is easy using this guide that compares different money saving apps for ios and android.
There are a ton of ways to save money using your mobile phone. Money saving mobile apps are growing in popularity for a good reason. Everyone wants to see their money grow and find interesting ways to make and save more. Mobile applications are becoming closer and closer to a traditional bank. The best money saving apps of 2020 will feel just like a bank account but have some added bonuses or provide people with some kind of financial insight. People will end up using mobile money saving applications on their iphones instead of their traditional bank account due to the ease of use and new technology being developed. The best money saving apps will have advantages over traditional finance products in one way or the other.
Money saving applications are popping up all the time. Most people who us money saving applications are looking for something to replace their bank account. In 2020 people will leave their traditional ways of saving money for some alternative money saving applications.
New trends are happening in the mobile money saving space. Some of the more innovative products are shown below. You can also request another product to be added to the list by joining our discord server.
Returns - Getting a return on your savings is huge. People often overlook this aspect entirely when they set money aside. Saving is much more than storing. There are plenty of basic options if you just want to set aside money and do nothing with it. A traditional piggy bank solves this problem. In 2020 there are better options and ways to see a return on your savings. The rate of return you earn using an app is important criteria to consider before you use personally download something and begin using it yourself.
“Savings” - savings can mean different things depending on the context. It can mean getting a certain amount off of your purchase, or a stored amount of money. When it comes to finding a way to save money using a mobile app both are important to consider, however the majority of people are looking for a way to save for something instead of saving on every purchase.
Ease of use - Simplicity is best. There are some financial saving apps that can be complex to fully figure out and use. Ease of use should be a factor before you ultimately download the app you are interested in using.
Not only does Outlet.Finance pay the highest interest rate on this list, but it automates everything for you. All you need to get started is a US bank account. You can easily transfer funds to and from your traditional bank account to the Outlet app, allowing you to easily earn interest on the money you save.
Outlet is a strong alternative to a traditional bank account. Current interest rates are roughly 10% APY. Outlet will have many ways to interact with your money such as sending, and spending. People currently use a suite of products to achieve the same functions that Outlet will offer.
Mobile banking the world loves. N26 shares this message in a lot of its advertising. N26 is a mobile first traditional bank account that pays around a 1.5% APY. The N26 mobile app is a great way to save money. It is FDIC insured and has several perks as to why you should use their product. It has free cash withdrawals, and a great dashboard to show you what how you are spending and saving.
N26 is an up and coming money saving app that is spreading like wildfire around the United States. 2020 will be an explosive year for N26's American expansion.
Chime is a mobile first bank. It markets its mobile app as “banking made awesome” Chime has a clean and easy to use UI that allows people to get paid early as well as being an excellent way to save money. You can use Chime as a way to save money and monitor your spending. Chime is a perfect example of the new types of creative money saving apps of 2020. The unique business model of Chime enables users to get paid quicker and have a free banking experience that was otherwise impossible.
Chime has one of the best user interfaces in the money saving niche. People often praise its ease of use with an excellent design make it a great choice to download and start using.
Digit is an excellent mobile money saving app for you to use in 2020. Digit is a great choice to start saving with due to its advanced spend tracking features. Features that allow you to see if you are realistically able to save and how to keep your financial life healthy. You can see how much money you need to survive or thrive. Money saving mobile apps coming out in 2020 need to be advanced and have distinct advantages over their traditional competitors. Digit is a perfect example of fintech innovation.
Digit is the savings king. It allows you to easily foresee expenses and will help you realize how much you can actually save. Saving is difficult this day and age. Most Americans live paycheck to paycheck. Digit allows people to visualize how much they can save and where their money is going. It is a great financial tool to start using in 2020 to hopefully hit all of your next year goals.
Robinhood continues to be one of the most popular alternatives to a traditional bank account. Robinhood is absolutely a must have money saving mobile app of 2020. You can buy almost any stock for free. People use their stock portfolio as a way to retire, this alternative savings account can yield a high return if you play your cards right and make the correct trades at the right time. However, people can lose their money in the stock market. Sometimes you are better off saving your money elsewhere, but there is something so fun about learning and owning shares in wonderful companies that make this a must download.
Savings money through stocks is nothing new. People will often invest in the stock market as a way to look for high returns. There are other money saving apps that automate themselves, and advise you in other ways to save money. The people who choose to save their money by buying stocks will often have an emotional attachment to the companies they are investing in and possibly make bad decisions due to the emotional attachment.
Acorns has been in the mobile money saving app space for a long time, and it is still one of the best mobile apps to save money with in 2020 and beyond. When you are investing every little bit counts. People who have experience investing and saving their money know how hard it is to emotionally do so. Setting aside dollars for specific things is hard.
Acorns is a perfect choice for a money savings app to use in 2020. Acorns is a great money saving app due to the way it actually saves your money. You are overcharged on each purchase, and that charge is what is set aside to be saved.
We at Outlet love cryptocurrency. Coinbase is a great money saving mobile app because it is the gateway to this world. Coinbase allows anyone to easily exchange their real dollars into alternative digital assets that live on a blockchain. These assets are a great store of value and are used to save your money in ways that did not exist years ago. People are flocking to save their money through digital currency for many reasons, some coinbase users are ditching traditional fiat money and are saving nothing but crypto through the mobile app.
Qapital is a great money savings app and choice for the upcoming 2020 year. It's easy to use product makes it simple to begin saving right away. Qapital markets itself as "The money app that makes it easy to fund your future – while taking care of your now"
This may seem confusing at first, but Qapital is a great app to save money. You can budget your life and figure out what works best for you. It is similar to some of the other apps on this list, but definitely worth checking out.
Saving your money using a mobile app is nothing new. When you look for an app to save money on you should think about any of the alternative banking solutions listed on this page. 2020 will bring a lot of new exciting fintech projects to the app store. People who want to start saving money in a mobile app now have plenty of innovative options to do so. 2020 is the year to begin using money saving mobile apps.