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Business Finance

App rounds up credit card purchases, socks away the change for you

(FINANCE) If your bank doesn’t offer a “round up” app, this startup wants to help. Saving up small amounts is more feasible for many, and is a good way to start saving.

Saving money is a pain in the ass

Saving money seems like an attainable goal, until your usual finances exhaust all of your accounts, and before you know it, you’ve used everything with nothing saved. It seems easier to just revert back to our childhood days and put our spare change in a piggy bank.

But with a lot of our spare change coming from our debit card and credit card purchases instead of cash, that may not be the most lucrative way to save either.

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WealthNation, a new financial service has found a way to bridge the gap between our physical piggy banks, and digital purchases with our debit and credit cards.

Your new digital piggy bank

WealthNation was created to act as a digital piggy bank and provide users with the simple tools to save small money often. They promise users financial freedom, effortless use, full control, and security. To get started, all users have to do is select your bank, link your debit and credit cards, and begin saving.

Every purchase you make, WealthNation will round up to the nearest dollar, and put the difference into the savings account of your choice.

We’ve seen other services that allow you to save spare change towards and FDIC-insured account, or stocks, but this is the first that goes straight to your account (and isn’t hosted by your bank). It is also the first of it’s kind that allows users to pull are their funds whenever they want to, without having to pay.

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You also don’t have to worry too much about your private information leaking, as they guarantee the highest security standards.

It’s a good start

The real takeaway for users is that saving frequent small amounts is a painless way to get you to your savings goal without breaking the bank. It’s a good start, given that most Americans have zero in savings.

So if you have a family vacation you’ve been dreaming about, or if your rainy day fund is lower than you’re comfortable with; WealthNation could be your financial fixer. It has not been released just yet and we have no word on the launch date, but there’s a waitlist for interested users.

#WealthNation

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Written By

Lauren Flanigan is a Staff Writer at The American Genius, hailing from the windy hills of Cincinnati, with a degree in Marketing from the University of Cincinnati. She has escaped the hills, and currently resides in Atlanta, where you can almost always find her camping at a Starbucks strategizing on how to take over the world.

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