New microsavings accounts and startups are popping up all over the place. Their goal is to make saving money accessible and easy for everyone. You don’t have to make a lot of money, or have a ton of discipline. You just have to start by saving a small amount of money on a consistent basis, and these tools aim to streamline that process so you never have to think about it.
Microsavings accounts cater to very small deposits that are transferred from your bank into a separate savings account that has little-to-no balance minimums. You simply save a few dollars every week and watch as your balance grows steadily over time. With a microsavings account, your biggest asset is time. The sooner you start saving, the longer amount of time you have to reach a specific financial goal, which puts less stress your bank account in the short-term.
Here’s a breakdown of the best microsavings tools currently available in online banking, and how they stack up against each other. We’ve thoroughly reviewed and tested each service listed below. Click the “read review” link to learn more, or click the “visit website” button to try it out for yourself.
The Acorns app invests your spare change. It rounds-up to the nearest dollar every credit card purchase and micro-invests the difference. It makes ...
|Rated 4.5 stars|
Qapital is a free mobile banking app that allows you to save money by rounding up your everyday purchases, as well as through other activities, ...
|Rated 4 stars|
Stash Invest is a microsavings service geared toward beginning investors. Compared to its rivals, the service has more flexibility in choosing your ...
|Rated 4 stars|
Simple offers a holistic solution to meet its customers' needs with banking and saving software that's innovative, sleek, and functional. A free ...
|Rated 3.5 stars|
Dobot is a passive savings app that will enable you to save money through your income and spending activities. You can set goals for various savings ...
|Rated 3 stars|
The Digit app makes saving money as easy as texting. It offers a friendly way for individuals who are just starting out. Unfortunately, expect a one ...
|Rated 2.5 stars|