We’re at that age where some of us have enough money to buy a used car in our savings, others have to check our bank balance before buying a Bud Light at the dive bar down the street.
While it’s all fun and games to make self deprecating jokes about drowning in student loans and living paycheck to paycheck as a 24 year old, it’s safe to say at this point in our lives we should have a little bit to show for the work we’ve done thus far. After all, we have friends getting married and having children, the least we can do is put away a few hundred dollars away here and there to make an argument that we’re real adults. If you’re anything like me, you know that can be easier said than done. WAY easier said than done.
Not too long ago I was introduced to the mobile app Qapital, and it’s been the one thing to successfully get me to put money away. You connect your bank accounts and credit cards directly which makes for a very easy process. It’s set up through Wells Fargo (the 52nd largest bank in America in 2016) and is completely legitimate.
Setup is easy and self explanatory, and allows you to create ‘goals’ in which you can ‘get something,’ ‘go somewhere,’ etc. You give your goal a name and a cover photo, as well as a goal amount. You then set ‘rules’ that decide how you’re going to put away money. I personally use the Round Up rule: when I make purchases, the totals are rounded up to $2 and put into savings. You can also make goals depending on amounts you don’t spend, how often you work out, or even put away a set dollar amount per day.
I personally push towards the Round Up rule because I ended up saving money without even realizing it, and it really adds up (mostly if you’re an over-spender like I am). Another great feature? Withdrawing money is as quick of a process as depositing from Venmo. All it takes are a few clicks and your funds are on the way.
Last but not least, there’s an option to share goals. Maybe your significant other and yourself are looking to go on a trip this summer; you can both create a common shared goal and add money as you go along. This is also great for buying mom that awesome present for mother’s day, allowing your siblings to all pitch in as well.
Interested in trying out Qapital? Use this link and get a free $5 to start off your savings.
I’ve found that Qapital is the one thing to stick when it comes to actually putting away money and keeping it there. What apps do you use to budget? How do you keep your savings growing?