Digit App Saves While You Sleep

If you want to pay down your debts and get ahead; you have to start saving. The trouble is that it’s hard to start saving. If you’re not used to it – it seems like wasting money. This is doubly so when you’re on a tight budget.

It’s all well and good for personal finance advisers to say; get used to it. But that’s not how people work and it’s no surprise that the majority of Americans have no savings at all!

That’s Why You Need Digit.co

Digit.com makes it easier for you to save. It puts the habit on autopilot and then hides it from view. Then it doesn’t feel like saving. Until one day you check your balance and for the first time ever – you have money in the bank that you are not spending!

How Does It Work?

You link your checking account to their website (this is 100% secure and it takes about 10 minutes including security questions, etc.).

You confirm your account using SMS.

The nothing happens. Digit analyzes how you spend your money. Then over time, it starts to take small dollar amounts at a regular interval to a Digit savings account. It’s money that you won’t miss because Digit has worked out how you spend money already.

It’s 100% free to use too.

The Downside?

There’s only one downside. Digit doesn’t pay interest on that savings balance. This isn’t a big deal at the moment when bank interest rates are less than 1% but if that changes – Digit could end up being very bad value.

The Right Thing To Do

Sign up for Digit. Use it to grow a savings balance of say $500 or $1,000. Then transfer that money into other investments (stocks, shares, antique coins, whatever you like) so that it starts earning for you.

Get more information on their site here.