You know the best way to avoid debt is to have money in your savings account. But it feels impossible to fund a savings account when you’re barely making ends meet.
I know how it feels because I’ve been there, and because my clients roll their eyes at me whenever I talk about the importance of saving money for the proverbial rainy day. I can almost hear them thinking, there is no way I’m going to be able to put away any money on my salary!
That’s why I was excited when I first heard about Digit
, a free service that helps you save money by looking at your income and spending, finding small amounts of money it can safely set aside for you in a separate savings account.
To use Digit, all you do is sign up and connect your checking account
. From there, it’s supposed to analyze your spending patterns and start automatically saving you money.
Too Good to Be True?
As good as Digit sounds, I was skeptical.
It seemed too easy to let the application worry about my savings and make decisions based on an algorithm. What if someone was barely scraping by financially – would Digit be able to accomplish anything?