Saving money can be difficult, and most of us don’t save nearly as much as we should. Fortunately, a new app, SavedPlus, is looking to change that! With their motto of “set it and forget it,” SavedPlus aims to help users meet their financial goals without even having to think about it.
What is SavedPlus?
SavedPlus is a financial app that allows you to save by transferring small amounts of money from your checking account to your savings account each time a purchase is made.
How does it work?
To get started, you’ll first link your checking and savings accounts to SavedPlus. Next, SavedPlus will ask you to choose a percentage of money that you want to save each time you make a purchase. For example, if you choose to save 10% and you go out and spend $50.00 at the mall, SavedPlus will transfer $5.00 from your checking account to your savings account. It’s that simple! Simply set the Savings Slider to your desired percentage, and you’ll be saving every time you shop! If you’ve decided that you’ve set the slider too high or too low, you can easily log in and change the savings percentage at any time.
What if the transactions cause me to overdraft?
No need to worry! Although you may wonder if this app could result in an overdrawn account, SavedPlus ensures that won’t happen by having you set parameters including a minimum balance amount that you don’t want your checking account to drop below. The app also allows you to set transaction limitations and even exclude certain transactions if you desire.
Is it safe?
SavedPlus, which has been featured on CNBC, Kiplinger, Bloomberg Business and CNN Money, doesn’t collect any personal information from users nor does SavedPlus ever handle your funds. Instead, they’ve partnered with CheckGateway, which handles all of the actual transfers. Additionally, all transactions are encrypted by Thawte, one of the largest security companies, to ensure that all transactions are safe.
What devices can I use SavedPlus on?
SavedPlus is available for both Apple and Android devices and is completely free so you can start shopping to save—at no cost!
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