DIGIT savings….2015 year end update

In February of this year (2015), I stumbled on a new way to save some additional money. That new way was called DIGIT…my first post on DIGIT is here. It is a new way of squeezing out some extra cash from my bank account. My goal was to squeeze some leftover money after accounting for all the budgeted categories (expenses, savings and investment goals). Every time the DIGIT savings account accumulated to a couple hundred bucks, my plan was to withdraw it and apply towards my Financial Independence goals….more specifically, my home down payment fund. I had a few monthly updates that  I wrote about here here. But, once the savings picked up steam and became regular, I stopped the monthly updates….why bore people hey 😉

That said, this is the end of year 2015 already. So, how well did DIGIT save money for me this year?

  • $184.34        Dec
  • $440.51        Oct + Nov
  • $280             September
  • $302.06       August
  • $654.03        July
  • $296.64       June
  • $161.86        May
  • $238.29       April
  • $2692.51     Total for 2015

The amazing thing is that this is money, all $2692.51 of it, that I did not know I could save! In fact, I am pretty sure I would have spent it on something if it were to remain in my checking account. This is almost $2600 towards my home down payment fund without as much as batting an eyelid.

DIGIT savings is an opportunistic savings vehicle for me…in addition to my planned monthly savings towards home down payment. I am really glad I signed up for DIGIT in 2015 and will continue for the next year as well!

PS: If you want to sign up and try it out, go directly to Digit’s website here at https://digit.co/

Link to Yahoo Article: http://finance.yahoo.com/news/29-old-invented-painless-way-170000170.html

DIGIT savings….Month 4 update

I started using DIGIT, a new way of squeezing out some extra cash from my bank account, four months ago. I wrote about it here. My goal was to squeeze some leftover money after accounting for all the budgeted categories (expenses, savings and investment goals). Every time the savings account accumulates to a couple hundred bucks, my plan was to withdraw it and apply towards my Financial Independence goals….more specifically, my home down payment fund.

That said, how well did DIGIT save money for me in June?

  • For the month of June 2015, DIGIT squirreled away 226.64 from my bank account.
    • This is 226.64 that I would have spent on something less important than my financial independence goals.
    • Every month, DIGIT is getting more aggressive and squeezing out all the extra fat from my account…way to go!
  • Since signup, DIGIT has saved me $748.50.
    • If money is saved at the same rate for the rest of the year, I will have $1000 (!!) added to my down payment money…this is money I did not know I could save. So, go DIGIT!

But, where is the saved money going? About a month back, I wrote about my plan to benefit from the next recession here. My plan is to buy a house at a price less than the bubblicious prices prevalent in my HCOL area today. So, at the end of every month, the money DIGIT saves for me moves to my home downpayment fund. DIGIT savings is an opportunistic saving for me…apart from the planned savings towards home down payment. I will take the money however I can save it 🙂

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

DIGIT savings….Month 3 update

I started using DIGIT, a new way of squeezing out some extra cash from my bank account, three months ago. I wrote about it here. My goal was to squeeze some leftover money after accounting for all the budgeted categories (expenses, savings and investment goals). Every time the savings account accumulates to a couple hundred bucks, my plan was to withdraw it and apply towards my Financial Independence goals….more specifically, my home down payment fund.

That said, how well did DIGIT save money for me in May?

  • For the month of May 2015, DIGIT has squirreled away 161.86 from my bank account.
    • This is 161.86 that I would have spent on something less important than my financial independence goals.
  • Since signup, DIGIT has saved me $521.86.
    • If money is saved at the same rate for the rest of the year, I will have $1000 (!!) added to my down payment money…this is money I did not know I could save. So, go DIGIT!

But, where is the saved money going? About a month back, I wrote about my plan to benefit from the next recession here. My plan is to buy a house at a price less than the bubblicious prices prevalent in my HCOL area today. So, at the end of every month, the money DIGIT saves for me moves to my home downpayment fund. DIGIT savings is an opportunistic saving for me…apart from the planned savings towards home down payment. I will take the money however I can save it 🙂

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

DIGIT savings….Month 2 update

I started using DIGIT, a new way of squeezing out some extra cash from my bank account, two months ago. I wrote about it here. My goal was to squeeze some leftover money after accounting for all the budgeted categories (expenses, savings and investment goals). Every time the savings account accumulates to a couple hundred bucks, my plan was to withdraw it and apply towards my Financial Independence goals….more specifically, my home down payment fund.

That said, how well did DIGIT save money for me in April? Quite well in fact. For the month of April 2015, DIGIT has squirreled away 238.29 from my bank account. I got a tax refund that I was a bit lazy in moving towards a goal. DIGIT pounced on it and increased the savings rate automatically. This is good in two ways for me:

  • This is 238.29 I did know I could live without and
  • This is 238.29 that I would have spent on something less important than my financial independence goals.

Since signup, DIGIT has saved me $360….this is money I did not know I could save. So, go DIGIT!

But, where is the saved money going? About a month back, I wrote about my plan to benefit from the next recession here. My plan is to buy a house at a price less than the bubblicious prices prevalent in my HCOL area today. So, at the end of every month, the money DIGIT saves for me moves to my home downpayment fund. DIGIT savings is an opportunistic saving for me…apart from the planned savings towards all my goals, including home down payment. I will take money however I can save it 🙂

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

DIGIT savings….Month 1 update

I started using DIGIT, a new way of squeezing out some extra cash from my bank account, exactly a month ago. I wrote about it here. My goal was to squeeze some leftover money after accounting for all the budgeted categories (expenses, savings and investment goals). Every time the savings account accumulates to a couple hundred bucks, my plan was to withdraw it and apply towards my Financial Independence goals.

That said, how is DIGIT doing? Very well 🙂

As of today, DIGIT has squirreled away $106 from my bank account. It started slower than I originally anticipated, but it seems to be learning fast and squeezing more money out of my account. This is good in two ways for me:

  • This is $106 I did know I could live without and
  • This is $106 that I would have spent on something less important than my financial independence goals.

So, go DIGIT! By next DIGIT update, I will talk about how I used this money towards my financial independence goals.

 

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

DIGIT savings update….

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