What Are Money-Saving Apps?

Money-saving apps are mobile applications designed to help users reduce everyday expenses, earn cashback, or automate saving behavior.

They typically work in one (or more) of the following ways:

• Offering cashback on purchases you already make

• Negotiating or reducing recurring bills

• Tracking spending and subscriptions

• Automatically saving or investing small amounts of money

Some are completely free, while others charge subscription fees or take a percentage of the savings they generate.

Unlike traditional budgeting apps—which primarily track where money goes—money-saving apps are active optimization tools, focused on lowering costs or increasing net savings.

Main Categories of Money-Saving Apps

Money-saving apps generally fall into five core categories:

Best Cashback & Rewards Apps

Cashback apps return a percentage of eligible spending to the user in cash, points, or rewards.

Rakuten

Rakuten Rakuten provides cashback when users shop through its app or browser extension at participating retailers. Typical cashback ranges from 1% to 10% per purchase, with payouts issued quarterly.

Best for: Frequent online shoppers Typical savings: 1%–10% per transaction

Advantages:

• Large network of partner retailers

• Free to use

• Automatic quarterly payouts

Limitations:

• Requires activation of offers

• Minimum payout threshold applies

Rakuten earns commissions from retailers and shares a portion with users.

Ibotta

Ibotta Ibotta rewards users for everyday purchases, especially groceries. Users select offers, shop in-store or online, and upload receipts or link accounts to earn cashback.

Best for: Grocery shoppers Typical savings: $10–$25 per month

Advantages:

• Works with major retailers

• Frequent bonus offers

• Multiple payout options (PayPal, Venmo, gift cards)

Limitations:

• Requires manual offer selection

• Receipt processing can take time

Fetch

Fetch Fetch allows users to earn points simply by scanning receipts from grocery, retail, or restaurant purchases. Points can be redeemed for gift cards.

Best for: Low-effort rewards users Typical savings: $5–$15 per month

Advantages:

• No need to pre-select offers

• Simple receipt scanning process

• Wide merchant coverage

Limitations:

• Lower redemption value compared to some cashback apps

Upside

Upside Upside focuses on cashback for gas, groceries, and dining. Users activate offers, complete purchases, and verify transactions to earn cashback.

Best for: Drivers and commuters Typical savings: $0.05–$0.25 per gallon (gas savings equivalent)

Advantages:

• Strong gas rewards

• Flexible cash-out options (bank, PayPal, gift cards)

Limitations:

• Offers must be activated in advance

• Coverage varies by location

Best Apps That Automatically Save Money

Automatic savings apps move cash into savings or investments without you having to do it yourself.

Cleo

Cleo is a cheeky chatbot that can also track your spending so you can keep your bad money habits in check. Need help with saving? Cleo can round up your purchases to the nearest dollar and save the difference, or “fine” you for overspending at Target. She can also create a free, personalized budget based on your spending habits. Whatever saving technique you choose, she’ll automatically transfer that money into your savings account each week. Just sit back and watch your savings grow.

Best for: Beginners who want passive investing Typical annual savings/investing: $300+ depending on spending

Pros:

• Hands-off savings

• Automatic round-ups

• Personalized budget

Cons:

• Not everyone enjoys the chatbot

• Some tools cost money

If you want to build stronger saving habits before you automate your efforts, explore our guide to the best budgeting apps.

Best Apps to Lower Bills

Bill negotiation apps help reduce recurring expenses like cable, internet and subscriptions.

Rocket Money

Rocket Money is a personal finance app that helps users track spending, manage subscriptions and lower monthly bills. After linking financial accounts, users can see recurring charges, identify unwanted subscriptions and monitor budgets in a single dashboard. Rocket Money also offers bill negotiation services and credit score tracking.

Best for: Households with multiple recurring charges Typical savings: $200–$600 per year if bills are reduced

Pros:

• Subscription tracking

• Cancellation assistance

• Negotiation service

Cons:

• Takes a percentage of negotiated savings

• Not all bills qualify

Best Grocery Savings Apps

Grocery savings apps combine cash back, coupons and loyalty rewards to reduce food expenses.

Apps like Ibotta and Fetch integrate with store loyalty programs and offer stacking opportunities with sales and store promotions. Upside also offers cash back on grocery purchases. If you use these apps consistently, they can meaningfully reduce your monthly grocery bill.

If you need to reduce your grocery spending even more, check out our guide to the cheapest places to buy groceries.

Best Passive Price-Tracking Apps

Price-tracking apps monitor items online and notify you when prices drop.

Honey

Honey is a free browser extension and shopping app that automatically finds and applies coupon codes at checkout. When users shop online, Honey tests available promo codes to secure potential savings without manually searching. It also offers price tracking, alerts for price drops and a rewards program called Honey Gold that can be redeemed for gift cards.

Best for: Online shoppers Typical savings: Varies by purchase

Pros:

• Automatic coupon testing

• Price alerts

Cons:

• Primarily works online

Capital One Shopping

Capital One Shopping is a free browser extension and mobile app that helps users find deals and compare prices while shopping online. It automatically applies available coupon codes at checkout, alerts users when prices drop on saved items and compares prices across retailers. Users can also earn rewards on eligible purchases, which can be redeemed for gift cards.

Best for: Comparison shoppers Typical savings: Varies

Pros:

• Free browser extension

• Built-in price comparison

Cons:

• Rewards paid as gift cards

How Much Can Money Saving Apps Really Save You?

Money saving apps can realistically help you save between $100 and $1,000 per year depending on usage and spending habits.

For example:

• $20/month in cashback = $240/year

• $25/month in reduced bills = $300/year

• $30/month in automatic savings = $360/year

That totals $900 per year without major lifestyle changes. Savings vary, but stacking multiple tools can improve results.

How to Choose the Right Money Saving App

The right money saving app depends on your financial goals and preferred level of effort.

• Want passive savings? Choose round-up or automated savings apps.

• Want grocery savings? Use cashback grocery apps.

• Want lower bills? Try negotiation tools.

• Want easy rewards? Use receipt-scanning apps.

Always review fees, privacy policies and terms before linking your bank account.

Are Money Saving Apps Safe?

Most money saving apps use encrypted connections and secure bank-linking services, but safety depends on the company and how you use the app.

Look for transparent privacy policies, clear fee disclosures and optional security features like two-factor authentication. Monitor any linked accounts and avoid sharing unnecessary data.