Okay, I have to add a disclaimer at the beginning of this post. THIS POST IS NOT SPONSORED. I feel like when it’s about saving money or about an app, people assume that it’s sponsored, but Qapital has helped me save tens of thousands of dollars, and I’ve used it for years! I love this app so, so and much and I really want to be a resource for you guys. I’ve shared this on my stories a few times, and I have long time followers that have reached out and told me that they too had saved thousands of dollars and it helped them buy a house or their very first car- so dang cool! A lot of my friends also use it and have saved thousands!
I’m going to try to break it down for you guys, but it’s pretty easy to understand if you just download the app (click this link and get $20 towards your first goal)! I’ll explain how it works followed by a few FAQs!
HOW DOES IT WORK? THE GIST.
You connect your Qapital app with whatever bank accounts and debit/credit cards you want to save or deposit into. You then set up your Qapital “goals” (think of it as different saving accounts), you can keep your goals as general or as specific or as long or short term as you’d like- wedding, vacation, freelancer income tax, clothing, etc.
Then the saving! You then set up “rules” (you can have multiple rules for one goal) for each of your Qapital goals to how you want to save and how much to save. You can do as little or as much as you feel comfortable saving!
Here are some different saving rules Qapital has:
– Set + Forget Rule: Set up daily, weekly, or monthly deposits to make savings automatic
– Payday Rule: Pay yourself first. Save a percentage each time you get paid.
– Round-up Rule: Save the change every time you swipe your card.
– Guilty Pleasure Rule: Put a little in savings whenever you buy the stuff you’re trying to resist. (ex: fast food places, clothing stores. It works by the merchant)
– Spend Less Rule: Set a budget. Come in under. Save the difference
– Freelancer Rule: Set aside 30% for Tax Day every time you get paid.
Every time you save money, Qapital will withdraw money from that bank account or card you set up that goal with and don’t worry, that money is FDIC-insured and held with one of their partner banks.
Okay, so let’s get into the FAQs from here!
FAQ 1: Can I withdraw my money whenever?
Yes! You do not have to meet your goals to get your money back into your account. You can move your money around whenever and there is no penalty or anything. Keep in mind. It does take about two days until you see that money in your account though. You can also move your money from goal to goal. It’s all super smooth and seamless!
FAQ 2: Does the app cost money? What membership do you have?
You can start with the free trial, but yes it does cost money. I know, I hate paying for stuff too, but with how much you end up saving, it’s WELL WORTH IT. They have a three-tier membership plan. I have the Master Membership. I’ve only ever had the master membership, so I can’t really vouch for the other memberships. I love Qapital for the features that I have in my master membership, but from reading the descriptions below, it seems like complete membership has everything I love about the master membership! Here’s more about the memberships that I found on their site:
Qapital Basic is $3/month – for those that are looking to stop putting purchases on their credit cards and start building their savings. The next financial migration is for those that want a deep understanding of their total financial health.
Qapital Complete is $6/month – allows users to build a deep understanding of their complete financial wellbeing. Users will be able to track exactly what happens with their paycheck and build behaviors that lead to a positive relationship with spending, saving and investing.
Qapital Master is $12/month – for users who want to take their financial knowledge to the next level. At this tier, users will get deep industry insights from leaders on issues related to financial wellbeing.
FAQ 3: Can you save towards a goal with friends?
YES! I love that about Qapital! If you want to go on a trip with your friends or you and your boyfriend want to save towards a goal, but not quite ready to open up a joint account yet, this is the perfect solution for it!
FAQ 4: What are your favorite rules you like to apply to your goals?
It really depends on the goal, but the two rules I use the most is the set & forget rule and the roundup rule!
My tip to saving with Qapital:
I really never check my Qapital app to see how much money I’ve saved. When you check it, you feel like you have that money to spend! I just pretend like it doesn’t even exist. As I mentioned before, I’ve saved tens of thousands of dollars, but I’ve used the app for close to 4 or 5 years now. I have some goals that I save in small chunks monthly to build up over time, to other goals that I save daily and a little more aggressively! My checking account may seem low, but I always know that that’s what I have for expenses and everything else is saved in Qapital.
I hope this blog post helps and you start saving with Qapital! It’s an app that I truly can’t live without and I’m grateful I discovered it years ago. It’s never too late to start using it and saving!