Living
Digit
For those of you who are looking to make some life altering decisions soon, more power to you! This article is more about the no-brainer type of decisions, say saving money, and setting yourself up for financial stability. We were looking for a small victory when we found digit browsing the web. “Saving money, without thinking about it.” Uhh, yes! Where do we sign up?!
The Digit App self proclaims that it is, ” YOUR SMART MONEY SIDEKICK” providing bank like accounts without the fees banks thrive off of. How does it work you ask. No worries I will tell you everything I know nd expereicnced we actually had several of our staff members try out the app for about 6 months before we wrote this article, and they all had notable results. Set up our accounts on the Digit app which links to our bank and that was it. Based on how much we had in our accounts digiit would decide how much we could afford to say without causing issues for us. Rer Digit Co.’s website, “Digit calculates the perfect amount of money to set aside every day — based on your income and spending — and automatically saves it for you. Most days it’ll feel invisible, but it won’t take long to feel like the future you’re working toward is within reach.” When we started Digit is was 100% free and offered no interest or any other benefits; it was strictly a savings account similar to a virtual piggy bank.
Now the company offers:
- 1% annual cash back on your Digit savings, paid every 3 months
- Withdraw as often as you like, at no charge, with no account minimums
- Funds are FDIC-insured and protected by 128-bit bank-level encryption
- $2.99/month
I actually utilized digit to eliminate debts in small lump sum payments. Paid off my department store card balances and my one Visa card once again has a balance on it. One of the other guys on our staff, (Rob) tried out Digit as well, as he just used it for unexpected expenses and planning for small weekend vacations throughout the year and he loved it. It almost saddens me to say that we both left Digit when they began to charge a monthly fee. I mean free is a really good deal compared to three dollars a month.
