Best Money Saving Apps Of June 2024 – Forbes Advisor

Best for Goal-Setting

Why We Picked It

We selected Qapital as the best money-saving app for setting and saving for goals due to its unique approach to target-based savings. This mobile-first bank blends behavioral psychology with technology, allowing users to passively save and invest with customizable triggers.

Overview

After a 30-day free trial, Qapital charges $3, $6 or $12 per month, depending on the plan you choose. Upon signing up, you’ll choose goals you want to save toward (maybe a new car or a trip to Hawaii), then apply rules that will automatically fund your goals from a linked checking account. A rule could include putting aside a certain amount of money every time you run a mile.

You can also opt to receive a Qapital Visa debit card and the FDIC-insured Qapital Spending Account that earns a 0.05% annual percentage yield (APY). Whenever you make a purchase with your Qapital card, it can round up and save the change toward one of your savings goals. There are no monthly or overdraft fees associated with your card, but you may see ATM fees.

When you’re ready to take the money out of your Qapital Goals (savings) account, you can either cash it out through the app by sending the money back to your checking account, or you can spend it using the Qapital debit card.

Also available is Qapital Invest, which helps users buy stock and bond funds based on the level of risk they choose, starting at a $10 minimum.