Key Takeaways
- Automate saving small amounts from everyday purchases.
- Use fintech cards and apps for cash back on all transactions.
- Use AI-powered apps to manage and cancel unnecessary subscriptions.
Money-saving hacks are always in demand, but the best ones are often hidden in the fintech realm. If you’re ready to take your savings game to the next level, here are five insider secrets that only fintech nerds know about.
Read More: The Ultimate Guide to Financial Freedom by Age 30
1. Automate Your Savings with Round-Up Features
You know that spare change you get from everyday purchases? What if I told you it could grow into a hefty savings account without you even noticing? Many fintech apps like Acorns and Chime offer round-up features that automatically round up your purchases to the nearest dollar and deposit the difference into your savings or investment account. Over time, these small amounts can add up to significant savings without you feeling the pinch.
2. Get Cash Back on Everything
Traditional credit cards offer cash back on certain categories, but fintech cards take it to the next level. Cards like the PayPal Cashback Mastercard or Apple Card provide cash back on every purchase you make. Some apps also partner with specific stores to give you additional cash back when you shop through their links. Combine these to maximize your cash back earnings.
3. Use AI to Track and Cut Unnecessary Subscriptions
We’ve all signed up for free trials that turned into unwanted subscriptions. Fintech apps like Rocket Money (formerly Truebill) and Trim use AI to scan your bank statements, identify recurring subscriptions, and even cancel the ones you no longer need. These apps can also negotiate bills on your behalf, helping you save on everything from cable to phone plans.
4. Save on Foreign Transactions
Traveling or buying from international retailers often means hefty foreign transaction fees. But fintech companies like Revolut and Wise (formerly TransferWise) offer cards with no foreign transaction fees and competitive exchange rates. These services also provide seamless international money transfers, saving you money when sending funds abroad.
5. Automate Price Drop Refunds
Ever bought something only to see it go on sale the next day? For instance, the fintech app Paribus would scan your email receipts and track price changes for your recent purchases. If it detected a price drop, it automatically requested a refund on your behalf. This way, you never miss out on savings, even after you’ve made a purchase.
Fintech is revolutionizing the way we save money, making it easier and more efficient than ever before. By leveraging these insider hacks, you can effortlessly boost your savings and make your money work harder for you.
