Digit Review: A Simple Way to Automate Your Savings

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(Last Updated On: December 20, 2018)

 

Do you want to start saving more money today? Ok, silly question. We all want to save more money! Well, I’m itching to tell you about the Digit app, my friends, because it’s a tool that even big spenders can use to save a lil’ more.

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The best part is that saving with this app takes no effort. Digit links to your checking account. Then it works it’s magic to find money in your account that you don’t need based on what cash you bring in and your spending habits.

I heard great things about the app and decided to give it a try one summer. Within three days of signing up, the app found $6 in my own checking account to save. It only took a little over one month to gain $50 and then $70 in my Digit savings account.

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In total, from July 2016 to October 2016, I saved over $600 in my Digit account — enough to pay for a Thanksgiving cruise I took with family AND another summer trip I took to St. Marteen! Here’s the app in action…

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Giggidy giggidy. No, really. I’m so freakin’ excited. Now, that I have your attention. Let’s move on to the facts:

How the Digit App Works

After signing up, you sync your checking account to the app and it reviews your spending habits. From there, it takes a few dollars and cents from your checking account that you don’t need every so often and transfers it to your savings. Don’t worry, it only transfers money if you can afford it. Transfers are usually from $5 to $50.

What I found out pretty quickly is that there may be more money in your checking account than you really think, and the small amounts add up pretty quickly.

The very best part of this account is that it’s automatic. You can sign up for an account today, your first transfer will happen within a few days, and then you can completely forget about it. In a few months when you check in on your Digit account balance you may be pleasantly surprised!

Is the Digit App Safe?

It’s important to always make sure your money is secure. Before I put my money anywhere, I check the #carfacts to see what the protections are all about. I wholeheartedly suggest that you do, too.

The Digit account that your savings transfers to is FDIC-insured which means your money is insured up to $250,000 by the government. If Digit should fold or go out of business, you’re entitled to the cash you put in the account up to $250,000.

You can transfer money from your Digit savings account to your regular checking account at any time. The app uses encryption and secure storage to keep your information safe.

What’s the Verdict?

If you’re not the best saver, Digit is a good way to give yourself a kick in the booty. It doesn’t require effort from you and seeing the savings build up is a cool way to build momentum. Want to sign up for the app? You can do so here.

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