Hate saving money? Forget to pay yourself first? I remember those days! Well, let me tell you those days are over. If you don’t put a value on saving money for yourself, then this new service is going to help you tremendously. Seriously. I signed up in less than 5 minutes and everything was automated from then on. Let me tell you about Digit, the new way to save money without even thinking about it. Here is my Digit review for anyone looking to jump on the savings train.
I wanted to give you a little insight into how Digit has changed the way I save money. While I have a number of savings methods, like the savings buckets, nothing has compared to what I get with Digit. Before I go forward, I want to remind you that Digit doesn’t pay you interest on your savings. If that irritates you, then you might choose a different method to save. They do have a service called “Digit Plus,” which pays you $0.05 for every $100 you leave in your account for three months.
This doesn’t bother me because earning a paltry interest rate on savings is not worth it to me. I don’t keep my money in low-interest savings accounts. I move it around and use it to earn better rates. Depending on my needs, I will throw it in my Roth IRA with Betterment or do some investing in my individual accounts at Scottrade or Motif Investing. Anyway, let me get back on track about Digit and how I save my money.
How Digit Has Changed My Savings
Before I found Digit (4 months ago), I was using a few methods to save money. I used buckets, but also automated my savings each and every month. Beyond that, I also treated my savings like a monthly bill. I consider it an expense that has to be paid. I thought my savings methods were pretty sound. This is from a guy who used to be in a lot of debt and would spend more than I earned. I wasn’t good with my money. Oh, what three years will do for you.
When Digit came into my life, it combined two things I really love: math and automation. Since I already automated much of my finances, this wasn’t a big win, but where Digit changed my game is how they automate your savings. Not only do they work through text messages and simple commands, but hooking into your checking account is the game changer.
I’m a huge fan of automation. I feel it’s the best way to save money. I automate money going into my Roth and other retirement accounts. For any savings method, I love automation. The only thing I don’t automate when saving is when I treat one of my accounts like a monthly bill. It’s an expense for me and I want to make sure it’s paid. Automation is great, but you still need to keep an eye on everything.
Smart Automated Mathematics
This is where Digit excels and wins in my book. When you hook it into your checking account, it doesn’t just start taking out money like a hacker. The service analyzes your financial situation. It looks over your balances and looks at your spending. Then it comes up with a plan that constantly learns about you. It saves each and every week based on your balances and your spending. There is nothing easier.
The best part is their overdraft policy. If they take too much out of your account, which then causes you to overdraft, then they will pay your overdraft fee (reimburse you for it). What’s better than that? This means they are really sure of their savings algorithm. I like the confidence they exude.
Automation and mathematics are two things that get my shimmy to shake!
Mobile, Mobile, and More Mobile
Digit is heavily mobile oriented. While they do have a website at digit.co, their main focus is on mobile. Actually, there is not much to their main website. It’s very mobile-friendly. Digit runs off text messages. You can start your savings, stop your savings, add more, and much more. They also give you weekly updates via text. I like they way they do it. Each week is a different in how they greet you.
The last few greetings were “Good day Grayson,” “Namaste Grayson,” and “Konnichiwa Grayson.” These are the lead ins to what you current bank balance is. They compare it to last week’s balance. It gives you a quick view into how your bank account is doing. So, they are not just helping you save, but also provide insights into your checking account balance. Cool!Saving money and simplicity is the cream in my coffee! I love it!! Click To Tweet
In a nutshell, the last four months have been awesome in my savings. It has grown by leaps and bounds with all of my methods, but Digit has me happier than anything. The simplicity makes savings easier than one would think. The technology is cool and doesn’t complicate your finances. The mobile access is great for those who have a smartphone and don’t mind getting and using text messages. I’m happy I signed up for my free Digit account. I’m sure you will be as well.
If you want to accelerate your savings and start your way into a savings mindset, then get a free Digit account. It takes less than 5 minutes to sign up and get saving. Digit can help those who don’t think they have any money to save or those who want to automate most of the process. So, if you are one of those (I’m sure that is anyone), then go get your Digit on!
I hope it changes the way you save money like it did for me!
Do You Know Your Credit Score?
Even if you don’t plan on getting a loan, a good credit score can affect your ability to get a job, a place to live, and will save you money whenever you need to borrow. If you don’t know your credit score, you can get yours free at Credit Sesame. It’s 100% free with no credit card required to signup. I’ve been using it for years to monitor my credit score.