Digit Review: Painless Way to Save

digit review

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Digit is the painless way to save! I’ve been using Digit for about 2 months and already saved a nice little chunk of money. Not to mention it is super easy to use.

So, what is Digit?

The Digit Savings App is a totally FREE resource to help you automatically save money from your linked bank account.

Basically every few days Digit looks at your bank account, income, and spending to see how much  you could save. Then Digit will take a few dollars every couple of days from your bank account and put it into your Digit Savings account. Over the course of a few months you will see a nice savings nest in your Digit Savings account!

You can easily withdraw your money from your Digit Savings account quickly and for FREE at any time!

How I use Digit!

Since my family is pretty good about saving money, and we stick close to our budget. I am using the Digit app to save money towards a trip to Disney in a couple of years! We want to wait until our boys are big enough to enjoy Disney,  grabbing a random sweet tea from Chickfila.

How does the Digit Savings app work?

Sign up for the Digit Savings app here, and you will create an account. Your Digit account connects to your banking account and your money is saved into the Digit account. Your Digit Savings account is insured by the FDIC up to $250,000.

Each time that Digit makes a transfer from your bank account to your Digit Savings account, you will be notified via text message. You will also be sent a message each day regarding the amount in your bank account. Each transfer ranges from $8 – $10 based on your banking account, spending habits, and income.

You can access Digit any time any where either on your phone or online!

Text Digit “withdraw” to transfer your funds from your savings account to your banking account for FREE.

Text “pause” to pause your Digit Savings account for any reason. Digit will respond and you can choose the number of days you want to pause your account.

Text “settings” to change your settings.

Text “balance” to check your balance.

FAQ

Why is Digit great?

Digit is super easy to use. It saves money without you really even noticing a pinch in your budget. I think we would all like to squeeze a few more pennies out of our budget and stick into savings.

Honestly, if you suck at savings this is a great way to help you start saving passively. You honestly don’t notice that it is pulling money out. It’s usually about the same amount of money you spend grabbing fast food.

Digit is completely FREE. Like totally FREE. No charge to sign up or take your money out!

Digit is SAFE! They work very hard to ensure you don’t have any overdrafts from your bank account. There is even overdraft protection just in case it were to happen (but highly unlikely that it will happen). You are able to set a minimum for them to stop if transferring if your account reaches that number.

How is Digit FREE?

You are probably thinking…this sounds great, but how can this be free???

Digit is free because they earn interest off your money when you place it into your Digit savings account just like a normal bank earns interest. You will not earn interest from a Digit Savings account, which can be a bummer for you. But the interest you earn from your bank savings account isn’t that great and the idea behind Digit is to help you save when you’re not thinking about it.

 

PROS

  • Digit is FREE
  • Super easy to sign up (Sign Up Here)
  • Savings without thinking about it!
  • FDIC insured up to $250,000
  • Withdraw money anytime (It takes about 24 hours.)
  • You set a minimum limit to withdraw so you won’t overdraft
  • Tell Digit what to do via text
  • Digit texts your checking account balance daily
  • You get $5 referral credit when a friend signs up!

 

CONS

  • You don’t earn interest on your money in the Digit Savings App
  • Not all banks are connected
  • Only available in the U.S.

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Have you tried Digit? Do you struggle with saving money on the regular?

 

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