Surprising demand for ‘stimulus’ checks rises for cash-strapped Americans – Community News
Stimulus Check

Surprising demand for ‘stimulus’ checks rises for cash-strapped Americans

Demand for a SURPRISE “stimulus” check has skyrocketed for cash-strapped Americans, but a fourth round of Covid relief payments seems unlikely.

Whether there is another stimulus check in the future or not, there are other ways to save money and three apps can help you do that.

People who need financial help can use apps on their phone to save money

1

People who need financial help can use apps on their phone to save moneyCredit: Getty

According to Forbes, the best apps for saving money are Chime, Qapital and Digit.

BEL

Chime — which costs just $1 a month — has two automatic savings programs called Round Up and Save When I Get Paid.

The app is the most helpful in investing, it even offers tips to start investing with just $100.

Chime suggests signing up with a robo-advisor with low or no minimum requirements, opening an IRA, and using investment apps like Acorns and Robinhood.

Forbes notes that the app’s high-yield savings account currently pays a competitive APY of 1.00.

It also allows members using direct deposit to automatically transfer up to 10 percent of all paychecks directly to their savings account.

QAPITAL

Qapital — which costs $3 per month for the basic plan and $6 per month for the full plan — allows users to reduce debt, control their finances and save for the future.

Forbes describes Qapital as a “mobile-first bank” that “combines behavioral psychology with technology, enabling users to save and invest more with customizable triggers.”

Read our stimulus checks live blog for the latest updates on Covid-19 aid…

The app also allows users to sign up for a Qapital Visa debit card and an FDIC-insured checking account. You can earn 0.1 percent interest with it.

In addition, there are no monthly or current account fees associated with the card.

FIGURE

Digit is the best for anyone who wants to pay off their debts.

The app — which costs $5 a month after the end of a 30-day free trial — “uses automation and AI to analyze your spending and income patterns,” explains Forbes.

It adds, “If it thinks you can afford it, the app will move money from your third-party checking account to your Digit account.”

According to Digit, the app has helped people save about $2,500 a year.

Digit uses a linked bank account balance, upcoming income and bills, recent expenses, and any savings plans set up with the app to determine when and how much a user can save.

We pay for your stories!

Do you have a story for the US Sun team?