Over the past few years, a number of apps have popped up that help people save money. Each has its own bent, but at their core they offer the same service: collecting small amounts of money that add up over time. Here are five smartphone-friendly saving apps to help you easily set aside your spare change.
Acorns
Acorns invests your spare change in a basic investment portfolio. If you make a debit card purchase for $3.35, Acorns withdraws $0.65. It invests the money in $5 increments in one of five portfolio options ranging from aggressive to conservative, all with varying mixes of equity and bond exchange-traded funds. The app charges a $1 monthly service fee for accounts with less than $5,000.
Digit
Digit uses algorithms to analyze what goes in and out of your bank account, then makes small withdrawals in a way it says you "won't notice." Digit can save more than the other apps because it's not based on transactions but on your balance and spending habits. Digit charges $2.99 a month; you can try it free to 100 days.
Chime
Chime offers customers checking accounts, savings accounts and a debit card. Chime works with the Bancorp Bank, so your money is insured by the FDIC up to $250,000 per person per account. The Chime savings account carries a nominal interest rate. It doesn't charge a fee. It makes its money from debit-card transactions.
Clarity Money
