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How we add $150 CASH a month to our savings account without doing anything (and it is legit!)

How we add $150 cash to our savings account

 Update 4/23: I’m at $1000 only 2 months later! I’m LOVING Digit.

This whole 3 month savings challenge got me thinking.. It would be SO much easier to add money to our savings account by making it a automatic thing.. something that we didn’t notice and just let build and not have to think about doing or budget for. (okay, that is the totally lazy 😉 )

I started doing some research and guess what? it exists! While I was reading an article (here) I was introduced to Digit.

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What is Digit?

Digit is a FREE automated savings program that pays attention to your spending habits, then finds small amounts of money from your checking account and determines how much you can save and transfers it to a savings account for you. It does this every.day.

How does this work?

You will need to sync digit to your bank account and all it does all work its magic there. Every few days, Digit checks your spending patterns and moves a few dollars from your checking account to your Digit account, if you can afford it. Easily withdraw your money any time, quickly and with no fees.

Just so you know, I’m a skeptic. Always have been. Once I found this out about digit, I did some research (because yes, they want access to your bank) and found that your personal information is anonymized, encrypted and securely stored and FDIC insured just like your bank account up to $250,000 per account. So it is safe.

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So, I decided to try it… After about 3 weeks of using Digit– they have saved me over $160 from my  own checking account! The cool thing is, if I need my money back to my checking account– all I need to do is text “withdraw” and it will be back into my account the next business day!

You also get daily texts (you can cancel these if you don’t want them) letting you know the balance of your checking account and if they have transferred any savings to your digit account.

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The great thing– is that even though Digit has put almost $200 into a savings account for us– we haven’t noticed it. We aren’t trying to take the money because we need it– we are paying our bills and using our debit cards like normal and haven’t had any need to withdraw. I love that! Digit really did the job it is supposed to by finding money that we don’t need for anything and saving it FOR US! 🙂

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At this rate, we will have hopefully added over $1800 to our savings by the end of the year.

I’m pretty stinkin’ excited about this.. and I hope you can be too. I will keep you updated with how much Digit saves us throughout the course of my 3 month savings challenge.

You can find even more info HERE if you are interested in learning more.

 

Disclosure: I will receive $5 if you decide to sign up. This isn’t why I wrote about digit– I honestly think this is awesome tool that will help me (and you) add money to our savings account and be completely hassle free. I’m SO confused as to why banks aren’t doing this– it just makes so much sense. 

  • Christina says:

    Just signed up using your post, so hopefully you will see some referral $$ soon, and I can see some extra savings from my spending. :0)

  • Jen says:

    Question, if you don’t like it, is there a way to cancel ?

  • Michelle R says:

    We’re in the middle of a reno so my bank account has been going crazy (can we say Home Depot trips on the daily?! Ugh)! Once it’s done and my account is back to normal, I’m really interested in this!!

  • Heidi Kristall says:

    I tried to sign up but sadly not supported by my credit union ..bummer

  • Jennifer says:

    I signed up last week under your link so hopefully you got the money! They’ve taken the first withdrawal of $6.50 and I didn’t notice it. I am anxious to see how it works over a month.

  • Meghan says:

    I signed up for Digit last week & it has already saved me a ton!

  • Kayla says:

    This is exactly what I need. I hope you get your $$. Thank you for this posting!!

  • Thea says:

    How does it work with transfer limits with banks? Most bank have a limit on transfers and having to transfer between accts almost everyday would be problematic when faced with transfer fees?

  • Beth says:

    Great article! Wells Fargo Bank does this on one of our accounts! ☺

  • Kim says:

    I just signed up! I’m excited to see the savings begin! I checked it out and it has nothing bad written about it. Thank you for posting on Pinterest. You should be getting $5 for me!

  • Calleigh says:

    I just signed up with digit..im going to give them 30 days and see what they can save me. thanks for posting such a great idea.

  • WANDA says:

    I am giving it a shot to see it if really help us to save more money.

  • Ty says:

    Does it work to transfer money between different entities? I have my checking at a bank and my savings at a credit union,

  • Cynthia says:

    I so want to try this I’m trying to save up for an apartment and this looks like it’d help so much but it’s not supported by my credit union 🙁

  • R Campbell says:

    cant you just budget? That’s what they are for. You lay out all your bills, all your spending categories, and designate an amount to savings. I think it’s much more important to know where your money is going. The fact that you can have this app find $150 a month in your spending and you don’t notice it being gone sounds like a serious issue. Be responsible with your money and you could probably get that $1800 saved much faster.

  • Sierra says:

    How do you transfer the money digit saves into your own banking savings account?

    • Josie says:

      Hey Sierra! It is really easy.. you will just text the word “withdraw” to the number that is provide when you sign up and they ask you how much.. and it shows up the next day!

  • Shannon says:

    How many times a month does it transfer? I know that with so many transfers some banks start charging a fee.

    • Josie says:

      it takes out money about four times a month for me… I don’t think the transfer fee applies to this as it doesn’t transfer from your account to another. You can have the money deposited whenever you want back into your account.

  • Karli says:

    Thanks for this.. Excited to try it out! Hopefully you’ll get your referral money soon!

  • John Flint says:

    Keep in mind people that Digit is earning interest on YOUR money while they “hold” it for you. You earn nothing. Put the money away in your savings account and earn the interest yourself. Plus, Josie is making a killing off of all of you who are using her name to start an account. So Josie makes money, Digit makes money, and you make nothing on your money sitting somewhere.
    Just a thought

    • Josie says:

      Hey John! Digit DOES earn interest and so do those who enroll in Digit.. they are very open about that in their FAQ– which I think it perfectly fine considering that a traditional bank gets to USE your money while you have it with them. They also charge you fees just to use a bank account.. Digit is doing nothing different 😉 Digit Plus is a new rewards program that has been available for about 3 months. You’ll get 5 cents for every $100 you keep in Digit for 3 months. Bonuses are paid every week for as long as you keep saving… and to be completely honest with you, I’ve never had a traditional savings account give me anything more than that to “hold” my money.. While you might think I am making a “killing” be referring people.. I definitely am not. Even if Digit took away the referral fee, I would continue to promote it as I think it is great tool for people who have trouble saving money.

      • Danielle says:

        If you are using a financial institution that is charging you fees for using your money switch. My credit union pays interest on my savings and has never charged a fee. If this app works for people great! If saving directly works great. Just know the details of how an institution will use your money for their benefit.

  • Abigail says:

    How do you contact customer service if you are having trouble connecting?

  • Mindy says:

    I have a traditional savings account at my credit union but am going to try Digit too. With my oldest going to college in the fall, I am looking at ways to save more money for her tuition and expenses. Thanks for sharing!

  • Kristel says:

    I think this app serves a purpose for a demographic who might need some budget training wheels, so to speak. It’s a budget tool that can show you how much you can actually put away into savings without having to do all the budgeting and math yourself. I think it’s so popular because it’s built around the psychology of making the user feel productive and good about themselves for saving. In these ways, it can be helpful.

    For the more experienced however, who don’t need the constant updates and who understands the ebb and flow of their money, I don’t think this is helpful. A high interest savings account will help much more in the long (and immediate) run. I would suggest a bank like Ally. They’re only online and there is a short waiting period so it’s safer for those who just tap into their savings for spending. Also, their interest rate right now is 1% which is pretty darn amazing.

  • Laken says:

    How much has it saved you as of now?

  • Heather says:

    So…. Just to make sure I’m understanding this correctly: Didgit finds money in your checking account that is available to save and transfers it to the Digit app (roughly 4x/month) and digit will either hold on to it or you can choose to transfer it back to your checking or savings account correct? Digit does not move it to your personal saving account automatically..You manually do that Right?

  • Sandia says:

    Oh gosh. So excited about this!! We just got our budget back on track after finalizing our adoption last year. I cannot wait to replenish our savings account. Thanks SO much for sharing this! I just signed up today. 🙂

  • Kelly Putaski Zuniga says:

    I have not used this program, but I wanted to comment on the integrity of Josie. I have been following her on social media sites for many years and am a contributing member of several of her money saving groups. She is 100% genuinely interested in saving us money. She works hard for us, many times putting us before her family! She definitely is not making a killing off of us and I appreciate her honesty. Many programs that money savers use like ibotta, ebates, etc all give referral bonuses. Why shouldn’t she benefit from it, to support her blog, that we get to utilize for free? Thank you Josie for all the support that you have given me over the years. I have learned so much from you and appreciate all that you do!

  • Josie says:

    Kelly, Thank you!! You totally just made my week! 🙂

  • Nefeli says:

    Very helpful ! Thanks for sharing this!!! One question before I go to subscribe.. Is that only for American bank accounts? Or international?

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