Update: 4/18/17: In light of digit’s move to start charging $2.99/month for their services, you may want to check out my post What Are Some Other Ways to Save besides digit?
Since I’ve started paying more attention to my finances, I’ve tried a lot of websites and apps to make my life easier. Some start off strong and then fizzle out. Others are actual game changers.
A few months ago, I did an update of digit versus Acorns, since I’d set up both around the same time. I’ve since stopped using Acorns, as I wasn’t impressed with it at all.
digit, on the other hand, has saved me $1,054.58 that I didn’t even notice I was saving, in the last year.
As a matter of fact, when I reached all my 2015 financial goals by the beginning of November, I mentioned not being 100% sure how I’d gotten it done. Turns out digit was a big factor in that!
Every time you transfer out some of all of your digit balance (which takes, at most, 24 hours to turn up in your checking account), it asks you what you transferred it for. You can then check out your Savings Journal on their website – it lists all the saved amounts and what you said your withdrawals were for.
Looking back just now, all but one of my transfers went to hitting those savings goals – some went to different savings accounts and some went into investment accounts.
AND when I looked up these stats to write this post, I found I have $65 just chilling in the account right now. I actually thought it was a much lower amount.
Also, when I first started with the website, I thought the daily text messages about my account balance where annoying. Now I think they’re kind of awesome and help keep me on track with my spending.
I’m also impressed with how well digit adjusts to my variable income. At the end of May I’d just finished up a tour and had about $3,000 sitting in my checking account, which I intended to get me through until my next full time job started in September. Through that 4 month period, there were occasional deposits into my bank account, but not that many and they weren’t that large.
digit actually adjusted how it did it’s withdrawals throughout the summer as the balance got lower and lower. I was definitely never in danger of overdrafting (not that I was worried about it because if digit had caused me to overdraft, they would’ve paid the fee!).
You can also get digit Plus bonuses if you leave your money in the digit account. Since I transfer out the balance almost every time it hits $100, I don’t get them, but if you leave $100 in your account for 3 months, you get $.05. For every hundred dollars in your account for 3 months, you get an additional $.05.
All that being said, I won’t be deleting my digit account anytime soon and I’ll be keeping an eye out for whatever the brains behind digit think up next!