I wrote about DIGIT, a new way of squeezing out some extra cash a couple of weeks ago, here. After money flies away from bank account for all the budgeted categories (expenses, savings and investment goals), there is still some dollars left over. This left over money varies every month…sometimes it is $50, sometimes it is $100. Instead of leaving it in there and spending for something else…believe me, the force is strong enough…I wanted DIGIT to squirrel away the left over dollars to a savings account. There is no interest paid for the money in DIGIT accounts (as of now), but that is okay for me. I do not plan on leaving the money there for a long time. Every time the savings account accumulates to a couple hundred bucks, I plan to withdraw it and invest it towards my Financial Independence goals.
That said, how is DIGIT doing? As of today, DIGIT has squirreled away $14.95 from my bank account. It is a bit slower than I originally anticipated, but it is learning my spending habits and hopefully, it will speed up the money savings. This is $14.95 I would have spent on something less important than my financial independence goals. So, go financial independence and go DIGIT.
PS: If you want to sign up and try it out, go directly to Digit’s website here at https://digit.co/
If you do sign up at all, please do share your experiences, positive OR negative, via comments on this page. I would love to hear from you on how this works out.
Link to Yahoo Article: http://finance.yahoo.com/news/29-old-invented-painless-way-170000170.html