Could This New App Help You Save an Extra $3,000 a Year?
We always wonder what we’d do with all of the money we drop each month on useless stuff. Fortunately, like everything else, there’s an app for that, only according to our friends atBusiness Insider, this one can help us cut out the clutter and save an average of $3,000 per year. The new free app, called Impulse Save, claims to help people like us control impulse buys — and if our shoe collection tells us anything, it’s that we have absolutely no impulse control!
So imagine this: You’re minding your own business at the mall when — BAM! — you spot a pair of candy red heels that would look perf with your new LBD. (Yes, yet another impulse buy.) But then you click into Impulse Save and it jogs your memory that you’ve been pinching pennies for a family vacation to Disneyland. Mickey, shoes, Mickey, shoes — don’t make us choose! But choose you must, and instead of buying the pair of cheap knock-off Louboutins, you scan the shoes’ barcode into the app. The price of the item is then transferred from your checking account into your Impulse Save account for your family vacay. Before you know it, you’ll be standing in line at Disneyland. At least that’s what Impulse Save cofounder Phil Fremont-Smith hopes will happen for people who want to save up using the app.
While it’s unclear how many have downloaded the app, Fremont-Smith says the average savings for those using it has been about $3,000 per year.
One thing to note: As one commenter on the Business Insider article points out, many people are understandably wary of giving the power to access their bank account out to just anyone. If you’re thinking about using Impulse Save, read the FAQ to make sure you’re comfortable with their process.
So what do you think, ladies — would you use it? Tell us in the comments!