Being a personal finance blogger can be a huge perk as you get to hear about different products and services that can improve and optimize how you handle your money.

Since I signed up with the MoneyStepper’s Savings Challenge, I’ve been looking for ways to stop money leaks and build some savings.

I mentioned with my first monthly review that I was trying out Digit. J Money from BudgetsAreSexy mentioned it as one of the easiest ways to save.

With a toddler and a newborn, I was eager to try out them out. If you’re looking for an automated way to save, Digit can be your solution.

Keeping Your Money Safe

The first question you may have (and rightly so!) is how safe your money is with this new company. With Digit you money is FDIC insured up to a balance of $250,000.

Right now Digit supports 25,000 banks and credit unions in the United States. (If and when they go international, I’ll update you.)

Digit is Freedigit automated savings review

Digit is completely free to use. You connect your current checking account with them and they monitor your spending patterns.

Based on your activity, it transfers small increments of money into your Digit account.

The smart bonus is that Digit will only withdraw that money if you have it. That means you don’t have to worry about getting over-drafted. The company even offers a guarantee if that ever happens to your account.

Digit updates you by texts so you know your balance and have complete control over your money.

You can withdraw your savings 24/7 and there are no limits to how many times you can transfer back your money into checking.

The Downside

As awesome as Digit is there is one downside that I have to mention – right now there is no interest earned on your savings.

However you can get bonuses every three months for keeping your money stashed away. It’s not a lot, but if it’s a choice between saving with a smidge of extra and not saving, I’d obviously support saving.

Thoughts on Using Digit for Saving

If you’re someone who wants to save and who wants to keep their current checking account, then Digit can be a wonderful option.

Set up is a breeze and your savings is all automated. You still have complete control over your money and the service is free.

Want More Info? Visit and explore their FAQs or sign-up to open an account today!

Photo Credit: Hello Digit, Inc.

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About Elle Martinez

Elle Martinez helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second..

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1 comment comments closed

  1. The other downside is that this form of saving might turn off your brain a bit and keep you from truly becoming wealthy (mainly because you become complacent with the automated saving).

    I think it’s great that this will force some people to save money, but I think we all just need to grow up and learn how to be responsible with money on our own. Am I wrong?