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5 Best Save Money Apps With Spare Change

We spend a lot of money via credit cards. Be it shopping, going to the movies, or making significantly bigger purchases, most of use swipe our credit cards. But wouldn’t it be nice if we could save some money while we spend on our credit cards. We’re not talking about savings in addition to cashbacks and reward points that are accrued on your credit card. There are apps today that help us save big by taking the spare change from our spendings and transferring them into a fund, which will then grow into a little savings fund of your own. These apps charge a small fee for letting you do this, but compared to the money you will end up saving, this isn’t a whole lot. If you make a lot of spendings on credit cards and want to save just that extra penny every now and then, then these apps are definitely meant for you.

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We must mention here that not all the services mentioned here come with an Android app, so if you have an Android device, you might have to use their web apps instead. This is not particularly an inconvenience since they’re just a few clicks away.

Let’s get to it then.

5 Best Save Money Apps With Spare Change

Acorns

One of the most popular spare change savings apps, Acorns links with your credit card and rounds up each purchase you make to the nearest dollar. The difference required is then taken from your checking account. The accounts are managed automatically in exchange-traded funds or ETFs, helping you see your money grow magically overtime. There are some retail partners (Jet, Airbnb, and Hulu) who will deposit their cashbacks directly into your Acorns account, helping you accrue more savings in the process.

It’s a pretty sweet service overall, especially if you’re heavily reliant on credit cards. Unfortunately, if you use your credit cards sparingly, this service might not be meant for you. That’s because the developers charge a $1 convenience fee per month for accounts holding under $5000. If it’s over $5000, you will be charged 0.25% per year. If you’re a college student, however, you can get the service free for four years. There are some obvious benefits of getting an app such as this one, and it’s no doubt going to help you save a lot of money in the future. There’s an Android app for this service as well, which is handy if you want to get a quick glimpse of your savings.

Coinflash

This is pretty much like Acorns in terms of functionality, although it uses a slightly different method of saving your spare change. Coinflash uses a Coinbase account and invests your spare change on the cryptocurrency of your choice. You can either choose Ethereum or Bitcoin, it’s entirely up to you. The investments can be made either every week or each month. The service only reads your transactional data when you offer credit card details, which will then be kept for two months before being deleted.

Interested in investing in Bitcoins or other Altcoins?

Here’s how we buy Bitcoin and Ethers. You will receive $10 of FREE BITCOIN when you buy or sell over $100 worth of any digital currency.

As for the fee, each user is expected to pay $1 per month. Payments will have to be made either via Bitcoin or Ethereum, and they will be automatically deducted from your Coinbase account. However, if you stop using Coinflash, the $1 will stop deducting and you can continue using Coinbase without any fees from the developer. This makes the app an excellent stepping stone for those who have been looking to get into the world of cryptocurrency but never knew how. Coinflash makes the entire process easy and convenient for everyone. There’s no Android app for this service, so you will be limited to using the web version.

Stash

This is yet another app similar to the first app we talked about, and shares some of the same features. You can choose to automatically withdraw a predetermined amount of money from your account at preset intervals. Funds will increase in value depending on the investment, and it’s pretty convenient overall. There are a bunch of portfolios with catchy names to appeal to those who are not well versed with financial talk. These portfolios will help you decide which funds to buy. This service only needs a $5 initial investment to start with, while stockbrokers require an investment of $1000 or higher to begin with. The company is even offering $5 to new customers who are looking to try out the app.

Stash is ideally suited for those who are new to investing and/or don’t have enough capital on their hands for a full blown mutual fund investment. It’s definitely a stepping stone for a bigger thing and can teach many of us a very good lesson on how to invest wisely. There have been some complaints that the funds offered by Stash have a relatively high expense ratio, so be sure to choose them carefully. It costs $1 a month for under $5000, and 0.25% for everything above that figure. Stash comes with an Android app as well.

Qoins

This is a slightly different take on the other services we’ve mentioned here. Qoins basically takes the spare change from your expenses and pays off your debts with it. It’s really that simple. An option like this is particularly useful if you have outstanding loans with relatively higher interest rates. It always makes sense to pay your debts more often to avoid interest to add up. Since we usually wait till the due date to pay off the loans, Qoins will do all the job for you behind the scenes. The amount paid won’t be too great since it only adds up on your spare change, but it’s still something.

The app cuts $1.99 from every monthly payment you send. However, if the spare change accumulated in a month is less than $20, it won’t send over the payments and will carry them forward to next month’s payment. In this scenario, Qoins won’t charge you either. You can try out Qoins from the Google Play Store.

Debitize

This is probably the most innovative of them all, as it basically converts your credit card into a debit card. As soon as you make a payment using your credit card, Debitize will use the linked bank account to pay off that charge right there. This means you won’t have to pay the full amount at once as you’re chipping away with each payment. This could be the app to get debit card users on board with the idea of credit cards. Thanks to this app, you won’t have to worry about late payment charges or any other overages related to delays in payment. Sadly, Debitize only has an iOS app with no Android app available at the moment. Android users can use the web version of the service, however.

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