Best Automatic Savings Apps for 2024: Our Top Picks

Building a healthy savings habit can feel like a constant battle. Between bills, unexpected expenses, and that tempting latte, setting aside money can easily fall by the wayside. But what if you could automate your savings, putting money away without even thinking about it? That’s where automatic savings apps come in.

These handy tools connect to your bank account and use various strategies to painlessly grow your savings. From rounding up purchases to analyzing your spending habits, they make saving a breeze. But with so many options available, choosing the right app can be overwhelming.

Here, we’ll explore some of the best Automatic Savings App for 2024, highlighting their features and benefits to help you find the perfect fit for your financial goals.

1. Qapital: The Goal-Oriented Saver

Perfect for: Those who thrive on motivation and clear goals.

Qapital goes beyond just saving – it helps you achieve specific financial targets. Set up different savings “Rules” for various goals, like a vacation fund or a down payment on a car.

Here’s how it works: Link your bank account and create personalized savings rules. Maybe you want to save $10 every time you eat out, or automatically transfer 2% of your paycheck to your dream vacation fund. Qapital tracks your progress and motivates you with fun features like virtual vaults and “If this, then that” rules (e.g., if you hit the gym this week, save $20).

Pros:

• Goal-oriented approach keeps you motivated.
• Customizable savings rules for different goals.
• Fun and engaging interface.

Cons:

• Free plan has limited features. Premium plan requires a monthly subscription.
• May not be ideal for general, non-goal-oriented saving.

2. Acorns: Invest Your Spare Change

Perfect for: Those who want to effortlessly invest their leftover pennies.

Acorns takes a unique approach to automatic savings. Link your debit or credit card, and Acorns rounds up your purchases to the nearest dollar. Those spare cents are then automatically invested in a diversified portfolio of low-cost ETFs.

This “round-up” feature allows you to invest without thinking about it, making it perfect for those who want to build their wealth gradually. Acorns also offers additional investing options and a robo-advisor service for a fee.

Pros:

• Effortless way to invest spare change.
• Low-cost, diversified portfolio for beginners.
• Additional investing options for those who want to be more involved.

Cons:

• Primarily an investment app, not a traditional savings app.
• Fees associated with paid plans.

3. Chime: Banking with Built-In Savings

Perfect for: Those who want a combined checking and savings account with automatic features.

Chime isn’t just an app – it’s a mobile banking platform with a built-in savings account. They offer a high-yield savings account with a competitive APY (Annual Percentage Yield).

Here’s how the automatic savings work: Set up “Save When You Get Paid” to automatically transfer a portion of your direct deposit into your savings account. You can also enable the “Round-Ups” feature, similar to Acorns, to save the difference between your purchase and the nearest dollar.

Pros:

• High-yield savings account for maximized growth.
• Built-in automatic savings features.
• Mobile banking platform for managing finances in one place.

Cons:

• Limited features compared to dedicated savings apps.
• Not available for international users.

4. Plum: The AI-Powered Savings Assistant

Perfect for: Those who want a smart, hands-off approach to saving.

Plum uses artificial intelligence (AI) to analyze your income and spending habits, then automatically transfers manageable amounts to your savings account. It considers your upcoming bills and financial obligations to ensure you don’t overdraft.

Plum also offers features like bill-pay reminders and budgeting tools. This app is perfect for those who want a set-it-and-forget-it approach to saving, letting AI handle the analysis and transfers.

Pros:

• AI-powered analysis for personalized savings goals.
• Manages automatic transfers to avoid overdrafts.
• Additional features like budgeting and bill reminders.

Cons:

• Limited free plan, premium features require a subscription.
• AI analysis might not be foolproof, user monitoring is recommended.

5. Digit: Simple and Straightforward Savings

Perfect for: Those who want a no-frills app focused solely on automatic saving.

Formerly known as Oportun, Digit takes a straightforward approach. Connect your bank account, set a savings goal (optional