digit-review

Digit Review: A Simple Way to Automate Your Savings

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Do you want to start saving more money today?

Ok, silly question alert. We all want to save more money.

Well, I’m itching to tell you about the Digit app peeps 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 this summer. Within 3 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 and enough to pay for the Thanksgiving vacation my family is taking in the Caribbean! More on that trip in another post. 

Update** I used that money in my account for the trip. Now I saved up another $700 for another trip!

Digit-savings

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, Yo

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 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 as pleasantly surprised as I am!

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 facts to see what the protections are all about. And 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.

But you should also use a budget so you can have a plan for your money as well. I teach you how to create a budget here. If you want a step-by-step guide to my budgeting method with templates and how a budget changed the way I manage money, go here.

Want to sign up for the app? You can do so here.

 

— This post or page may contain affiliate links. Don’t worry, though. I only promote products that I’ve used or truly believe in.

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Taylor K. Gordon is a writer and money blogger. She writes on how to live your best life without going broke.

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