Just in time for the holidays, find out how to save money every day with our new Ways To Save tool.
- Earn 500 points towards a gift card when you link your first bank accounts.
There are a number of personal finance tools out there that collect and aggregate your transactions, and then show you your spending, earnings, and net worth in a nice graphical chart.
At MoneyLion our customer-first mobile app does all of the above, but then goes a (big) step further.
We analyze your unique spending patterns and provide tips on how you can save money every day.
What this means is recommendations that are both very specific and actionable.
If you haven't downloaded our mobile app yet, download it today and try Ways To Save for yourself.
Here are some examples of different Ways To Save recommendations we'll show you.
- Overdraft Fees
In 2015 Americans forked over more than $11 billion in overdraft fees (also known as non-sufficient funds (NSF) fees). Typically bank customers pay $35 per individual overdraft occurrence whenever a purchase drops your account balance below zero.
It's important to actively manage your overdraft fees, so we'll notify you if you've had overdraft fees in the past 3 months.
Eating out is certainly convenient, but also more expensive and usually less healthy than home cooked meals. We'll alert you if we see a higher than average amount of restaurant transactions in the past 30 days and suggest some money-saving ideas that may fit into your busy schedule.
The national average for gasoline purchases in $150 per month. If we've noticed that you're spending more than this amount, we'll let you know how to both save money on gas and earn rewards for gas purchases.
Bank and Credit Card Fees
These are often called "hidden" fees because people often pay them without knowing they're getting charged. We'll let you know if there are any of these hidden fees in your account in the past month.
Similar to "hidden" fees, sometimes recurring purchases are for services and products you a) may not know of or b) no longer need. We'll show you a list of recurring purchases that you keep paying on a month to month basis. The idea here is to show you your recurring purchases and then you can decide whether they're legitimate, or something you can cancel or stop to save money.
Taxis (and Uber rides)
For our users who live in cities and larger urban areas, taxies and other car-sharing services like Uber and Lyft are convenient ways to get around (versus owning a car). We'll let you know how much you're spending per month and whether you can earn rewards or free rides with the right credit card.
Cord-cutting, or when you cancel traditional cable television subscriptions, is quickly becoming the norm. We'll show you how much you're spending and you can decide whether to reconsider your cable package for alternatives like Netflix or Hulu.
Yes, coffee is an absolute necessity for most of us. It's part of our normal morning routine to grab a latte before starting work. That said, the habit can add up! Even $10 a week means $40 a month or $480 a year. We'll show you how much you're spending and let you decide whether to cut down or find cheaper alternatives.
Try our Ways To Save feature for yourself today, and see how much you'll be able to save! Download the mobile app.
Any statements or speculation provided in this blog are intended for informational purposes only. MoneyLion does not guarantee the accuracy or completeness of any of the information presented above.