Savings Tools You Like & Use

[james.hendrickson]

Hello Forum Crew,

We get a good 500 or 600 lurkers per day, a lot of people who come here looking for ways to save money. Which raises the question in my mind what savings tools do you think are most effective?

For me, I like a system called digit.co. Pretty much what digit.co does is you give the software access to your bank account and it analyses your transactions. Then it deducts a small amount of money which you won't miss and sweeps it into a savings account you control. Its totally passive, which is nice if you are challenged in sticking to an active savings plan.

[puck36]

I just have a automatic transfer from checking to savings twice a month.

[StormRichards]

Then it deducts a small amount of money which you won't miss and sweeps it into a savings account you control. Its totally passive, which is nice if you are challenged in sticking to an active savings plan.

I can see the benefit for people that do struggle with saving, but I am not in agreement with the "won't miss" and "totally passive." I use Excel to monitor my two checking accounts, and I balance it multiple times a week. I would miss whatever amount is swept and of course would have to make note of it.

[StormRichards]

As for the question, automatic transfers that I set up is the savings tool I use. I have future transfers noted in my spreadsheet so I won't forget to deduct them from checking.

[rutgers07]

Hello Forum Crew,

We get a good 500 or 600 lurkers per day, a lot of people who come here looking for ways to save money. Which raises the question in my mind what savings tools do you think are most effective?

For me, I like a system called digit.co. Pretty much what digit.co does is you give the software access to your bank account and it analyses your transactions. Then it deducts a small amount of money which you won't miss and sweeps it into a savings account you control. Its totally passive, which is nice if you are challenged in sticking to an active savings plan.

I love digit and it's great for me since I can be somewhat impulsive with my spending.

[clatoden99]

1. Mint

Looking for a clean and easy app that makes saving as simple as possible? You might as try Mint. Mint is a personal finance app that allows you to keep track of all your financial activities. Every transaction is automatically recorded and categorized so you know where your money goes. Mint takes note of your spending patterns and creates a customized budget for you. .It is a fantastic way to keep tabs on your overall financial health and be able to spot potential problems.

[puck36]

1. Mint

Looking for a clean and easy app that makes saving as simple as possible? You might as try Mint. Mint is a personal finance app that allows you to keep track of all your financial activities. Every transaction is automatically recorded and categorized so you know where your money goes. Mint takes note of your spending patterns and creates a customized budget for you. .It is a fantastic way to keep tabs on your overall financial health and be able to spot potential problems.

Did you see that they are adding bill pay.

https://blog.mint.com/announcement/billpay/

[StormRichards]

I use Mint as well but I constantly have trouble with on of my major accounts. They just don't work well together and I constantly have to fix the damn account to get the data to pull in.

[rennigade]

Quicken - I track all my expenses and income.

Excel spreadsheets - I also track total of all my accounts once a month...then a year end one.

[corn18]

I use the Flexible Retirement Planner to determine if I'm winning or losing:

http://www.flexibleretirementplanner.com/wp/

Very powerful tool that provides insight into what I might expect in retirement. It isn't THE answer, but it is a piece of the mosaic.

Also use Bogleheads.org a lot.

Tom

[james.hendrickson]

Tom,

The Flexible Retirement Planner is free, right?

[Captain Save]

I use the Flexible Retirement Planner to determine if I'm winning or losing:

http://www.flexibleretirementplanner.com/wp/

Very powerful tool that provides insight into what I might expect in retirement. It isn't THE answer, but it is a piece of the mosaic.

Also use Bogleheads.org a lot.

Tom

This is a nice one.. typically you'd have to pay for these softwares

[Captain Save]

Porftolio visualizer

https://www.portfoliovisualizer.com/

Thank me later

[james.hendrickson]

Porftolio visualizer

https://www.portfoliovisualizer.com/

Thank me later

is it free?

[corn18]

Tom,

The Flexible Retirement Planner is free, right?

It is free.