There’s never a bad time to save money, and today’s mobile apps make it easier than ever. They offer coupons, rewards and rebates to their users, and while the cash you save using these apps may not be enough to pay your bills, it could be a nice boost to your budget.
Here are 10 money-saving apps we like for their ease of use and innovative approach to savings. Each is available to download for free on Apple and Android devices unless otherwise noted.
— Ibotta.
— Fetch.
— GoodRx.
— Flashfood.
— RatePunk.
— Raise.
— Rakuten.
— Rocket Money.
— Wise.
— Your favorite loyalty program app.
Ibotta
How it works: Ibotta offers cash back for purchases made online and in-store at hundreds of participating retailers including Amazon, Walmart and Target. Users select the offers they would like to redeem and then scan or submit their receipts using the mobile app to verify a purchase. For many retailers with loyalty programs, Ibotta can be linked to a store account to make it easier to redeem offers. In addition to its app, Ibotta has a browser extension that can be used to earn cash back when shopping online as well. Earnings can be withdrawn via PayPal, transferred to a bank account or redeemed for gift cards.
Benefits: With so many participating brands and retailers, it’s easy to find offers for items you’ll already be buying, such as groceries. The app will alert you to deals at nearby stores, and you can even earn cash back on gift card purchases. Plus, new users can earn $10 when they spend $30.
Drawbacks: The downside of having so many offers available is that it can be time-consuming to scroll through the app and find those relevant to your purchases.
Fetch
How it works: As another app that rewards users for everyday purchases, Fetch gives points for every receipt scanned into the app, including those from both stores and restaurants. The app says it covers thousands of items, and even receipts that don’t include a partnering brand can receive points. E-receipts can be entered into the app as well, and points can be redeemed for gift cards.
Benefits: The simplicity of Fetch is one of its biggest benefits. There’s no need to search for offers or scan barcodes. Simply scan your receipt and earn points. Members can also join Fetch Clubs for Huggies and General Mills to unlock additional savings from those brands.
Drawbacks: Since Fetch offers points instead of cash back, it may not be immediately clear how much you’re earning with each receipt. Plus, point values are subject to change at any time.
GoodRx
How it works: GoodRx provides deep discounts on prescriptions and is accepted at nearly every pharmacy in the nation. Users can download the free app, search for the price of their prescriptions at nearby pharmacies and then show an electronic coupon card to receive a discount.
Benefits: Offering discounts of up to 80% off the cash price of medications, GoodRx pricing can be less than that of the average insurance copay. For more savings, people can sign up for GoodRx Gold, which costs $9.99 a month per individual or $19.99 a month for a family plan. GoodRx Gold comes with additional savings on prescriptions, free home delivery and affordable telehealth visits. Even if someone doesn’t need a discount, GoodRx makes it easy to see how much medications will cost prior to heading to the pharmacy.
Drawbacks: The GoodRx app can’t be combined with insurance. As a result, any prescription purchased with it won’t count toward your annual out-of-pocket deductible.
Flashfood
How it works: Savvy shoppers know that buying marked-down food items near their sell-by date is a prime way to save money on groceries, and Flashfood makes it easy to find and buy those products. The app allows people to browse items at nearby participating supermarkets. Then, purchases are made in the app, and shoppers collect the items from a designated Flashfood cooler and display in the store. “This diverts waste from landfills while helping people feed their families affordable, nutritious food, at a time when grocery prices remain high,” says Josh Domingues, Flashfood founder and CEO.
Benefits: Flashfood provides access to deeply discounted grocery items such as $5 boxes of mixed produce, half-price deli sandwiches and ground meat selling for a third of its retail value. “In 2022, Flashfood shoppers saved more than $56 million on their grocery bills and rescued 28 million pounds of food from landfills,” Domingues says.
Drawbacks: Not all supermarkets participate with Flashfood, and product selection might be limited at some stores.
[Read: How to Create and Maintain a Family Budget.]
RatePunk
How it works: There are a number of money-saving travel apps, and RatePunk is one of them. Available as an Apple app and a browser extension, RatePunk is designed to allow users to easily compare hotel rates from hundreds of websites. “Our main goal at RatePunk is to make traveling as cheap and fair as possible,” says Justin Albertynas, the company’s CEO. The app can track prices and also send notifications of rate drops.
Benefits: The main benefit of RatePunk is the ability to easily search for the lowest hotel rates. As an added bonus, the app has a cashback feature that, when activated, awards RatePunk Coins after a booking. Those can be redeemed for cash payments via PayPal. “We’re constantly adding new features so travelers are 100% sure they’re getting the lowest price,” Albertynas says.
Drawbacks: This app is not available for Android devices.
Raise
How it works: As an online gift card marketplace, Raise can be used to either make money or save money. Users can earn money by selling unwanted gift cards on Raise. Meanwhile, those who are looking to save money can shop for discounted gift cards or receive cash back ranging from 3% to 30% when buying gift cards at face value from partnering brands. Plus, the app provides access to a variety of coupons, promo codes and other discounts.
Benefits: With more than 4,000 brands represented in the Raise marketplace, there are plenty of money-saving options. Gift cards are loaded into a virtual wallet, making it easy to track balances and use cards both online and in stores. New users may be eligible for additional savings, and all customers can combine discounted gift cards with coupons or cash-back offers.
Drawbacks: Raise notes 98% of its cards are electronic, so this may not be the best option for those who prefer physical gift cards. Discounts for some popular retailers, such as Walmart, can be less than 1%.
Rakuten
How it works: Customers who shop through the Rakuten website or with its Chrome browser extension can automatically earn cash back on qualifying purchases from participating retailers. The company’s mobile app also offers these rebates as well as cash back for in-store purchases. “It’s very easy to use — there are no receipts to upload,” says Todd Stearn, founder and CEO of personal finance website The Money Manual. What’s more, if you’re willing to link your credit card, you can get cash back when dining out.
Benefits: Rakuten has an extensive network of partnering retailers, which makes it possible to earn rebates on purchases in almost any category. “I’ve typically received 5% back at my favorite restaurants for meals I was going to buy anyhow,” Stearn says. When shopping online, he has saved anywhere from 10% to 20% by purchasing through Rakuten. The Chrome browser extension will automatically apply coupons for additional savings. New users are eligible for a $10 welcome bonus when they spend $25.
Drawbacks: You can’t combine Rakuten with coupons found outside the site. Doing so will make a purchase ineligible for cash back.
Rocket Money
How it works:Lowering monthly bills is another strategy to save money, and that’s the specialty of Rocket Money. The free app will scan bank and credit card accounts and look for recurring payments. Then, it helps cancel any service or subscription no longer needed. Rocket Money will also negotiate bills, such as those for cable and wireless service, on your behalf.
Benefits: In addition to managing subscriptions and lowering bills, Rocket Money can help you manage your money in other ways. It tracks spending, offers budgeting tools and provides access to a free credit score. The app can also be set up to automatically move money into savings.
Drawbacks: Not all services on Rocket Money are free. For instance, the company takes a 30% to 60% cut of whatever savings it secures through bill negotiation. If no discount is negotiated, no fee is charged.
[READ: 10 Simple and Free Budgeting Tools.]
Wise
How it works: If you need to send money internationally, Wise is an app that can make it less expensive to do so. “I’ve been using Wise for years, and it’s saved me thousands of dollars in transfer and currency conversion fees,” says Jack Prenter, CEO of the Canadian finance website DollarWise. The app allows people to hold and convert more than 50 currencies and will also provide users with an international debit card.
Benefits: In addition to the convenience of managing multiple currencies in one place, Wise says it can “save up to 2X” when spending, sending or converting money with the app. It does that by charging low fees and converting money at favorable rates. “If you’re regularly making or receiving transfers from abroad, it’s a real cash saver,” according to Prenter.
Drawbacks: While many of the app’s features have low fees, the Wise debit card can be costly to use. The first $100 withdrawn with the card each month is free, but you’ll pay an ATM fee of 2% plus $1.50 for every transaction after that. However, you can use the app without using the debit card.
Your Favorite Loyalty Program App
How it works: Almost every major retailer, restaurant and gas station has a loyalty program nowadays. Make sure you have signed up for these programs and downloaded any apps that may be available. These may offer additional savings opportunities such as coupons or rewards points.
Benefits: Linking a credit or debit card to a loyalty app is another simple way to earn money-saving rewards. Programs such as Shell Fuel Rewards, Marriott Bonvoy and American Airlines AAdvantage are a few of those that offer dining rewards within their loyalty programs and apps, which provides an additional way to save money.
Drawbacks: Not every loyalty program offers an app, and not every app will have additional money-saving features.
More from U.S. News
Important Dates to Mark on Your Personal Finance Calendar
The Best Free Interior Design Apps of 2023
Ways to Live Green on a Budget
10 Best Money-Saving Apps originally appeared on usnews.com
Update 05/18/23: This story was previously published at an earlier date and has been updated with new information.
