Have you ever found money in an old coat pocket? That happy surprise can now happen regularly, thanks to automated savings tools. These digital helpers work behind the scenes to grow your money without you having to think about it. According to recent studies, Americans still struggle with saving – a 2025 Bankrate survey found that only 30% of Americans increased their emergency savings year-over-year.
Automated savings tools offer a solution by taking the willpower out of the equation. They quietly move money to your savings before you can spend it, turning the challenging habit of saving into something that happens automatically. Let’s look at how these digital tools can transform your financial life, one small deposit at a time.
What Are Automated Savings Tools?
The Basics
Automated savings tools are apps or features that move money from your checking account to a savings account without you having to take action each time. They range from simple bank features to sophisticated apps with multiple functions:
- Round-up tools that save your spare change
- Automatic transfers on payday
- AI-powered apps that analyze your spending and save what you can afford
- Goal-based savings apps that help you save for specific purposes
How They Work
Most automated savings tools link directly to your checking account and use various strategies to determine when and how much money to save. Some tools round up your purchases to the nearest dollar and deposit the spare change into savings. Others automatically transfer a fixed percentage from each paycheck. More advanced tools analyze your income and spending patterns using algorithms to optimize savings. Additionally, many of these tools allow you to set custom rules, such as saving a small amount every time it rains or when you visit a particular store.
Key Benefits of Using Automated Savings Tools
They Make Saving Painless
The biggest advantage of automated tools is that they remove the psychological barrier to saving. You don’t need to muster the willpower to transfer money manually – it happens in the background.
When money leaves your checking account before you can spend it, you adapt your lifestyle to what’s available. Over time, these small, consistent savings add up to substantial amounts without feeling like a big sacrifice.
They Create Consistency
Saving money works best when it happens regularly. Automated tools excel at consistency – they don’t get tired, busy, or distracted. They save on schedule, whether it’s daily, weekly, or on payday.
This consistency builds financial habits without requiring constant attention. The tools keep working even when life gets hectic, maintaining your savings momentum through busy times.
They Adapt to Your Life
Unlike traditional saving plans that can fall short when your income varies, many modern savings tools are designed to adapt to your financial situation. Apps equipped with AI capabilities can analyze your cash flow patterns to make smarter saving decisions. They can reduce the amount saved during financially tight periods, increase savings when you have extra funds, and even pause contributions if your account balance drops too low. This level of flexibility makes these tools especially useful for individuals with irregular incomes or unpredictable expenses.
They Help You Set and Reach Goals
Many automated savings tools offer goal-setting features that make the process of saving more purposeful and engaging. Users can set specific targets such as a vacation fund, a down payment for a home, an emergency reserve, or a holiday shopping budget. These visual goals help keep motivation high and make it easy to track progress. Some apps even break larger goals into smaller, manageable milestones and celebrate your achievements along the way, making the journey toward your financial objectives more rewarding.
Popular Types of Automated Savings Tools
Round-Up Apps
These apps connect to your debit or credit card and round up purchases to the nearest dollar, saving the difference. For example, if you spend $3.50 on coffee, the app rounds up to $4 and puts $0.50 into savings.
While 50 cents might seem small, these amounts add up quickly. A person who makes 20 transactions a week might save $520 or more annually just from spare change.
Direct Deposit Splitters
Many employers and banks now offer the ability to automatically split your direct deposit between checking and savings accounts. You can designate a percentage or fixed amount to go straight to savings before you even see it in your checking account.
This “pay yourself first” approach is one of the most effective savings methods because the money never touches your spending account.
Smart Savings Apps
These advanced tools use artificial intelligence to analyze your income, expenses, and spending patterns. They determine safe amounts to save automatically without affecting your necessary expenses.
The apps continually learn from your financial behavior, optimizing savings amounts as your situation changes. They might save more during flush periods and less when money’s tight.
Goal-Based Savings Platforms
These tools focus on helping you save for specific purposes by automating deposits toward defined goals. They often include visual trackers that show your progress and calculate how long it will take to reach your targets at your current savings rate.
Many offer separate “pockets” or “buckets” for different goals, letting you save simultaneously for multiple purposes while keeping the funds organized.
Getting the Most from Automated Savings Tools
Start Small
If you’re new to automated savings, begin with small amounts that you won’t notice. Even saving $5-10 per week creates momentum and builds the saving habit without feeling painful.
As you get comfortable with the process and see your savings grow, you can gradually increase the amounts or add more saving rules.
Match Tools to Your Goals
Different savings tools work better for different purposes:
- Round-up tools: work well for building a small emergency fund
- Percentage-based automatic transfers: are great for long-term goals like retirement
- Goal-based apps: help with specific targets like vacation funds or holiday shopping
Choose tools that align with your priorities and financial situation.
Review and Adjust Regularly
While automation offers great convenience, it’s not entirely a “set it and forget it” solution. It’s important to schedule quarterly check-ins to stay aligned with your financial goals. During these reviews, you can assess your automated savings progress, adjust contribution amounts if your income has changed, and update your goals as your priorities evolve. It’s also a good time to ensure that the tools are functioning as expected. These regular check-ins help keep your savings strategy on track and ensure your system continues to grow and adapt with you.
Combine Multiple Methods
You don’t have to choose just one automated saving method. Many people successfully combine several at once. For example, you might split direct deposits for retirement savings, use round-ups for a vacation fund, set up automatic transfers for bills, and rely on a smart savings app for unexpected expenses, creating a layered strategy that boosts savings without added stress.
Work With Us
Savings tools have transformed how we build financial stability, making consistent saving possible even for those who struggled in the past. By removing the need for constant decisions and willpower, these tools help money grow steadily in the background of your life, building valuable savings habits along the way. Whether you’re saving for emergencies, big purchases, or long-term goals, automated tools offer a path to success that works with your lifestyle rather than demanding radical changes.
At Independent Financial Services (IFS), we can help our clients incorporate automated savings tools into their broader financial plans. Contact IFS today to learn how we can help you choose and implement the right automated savings tools for your financial journey. Let us show you how small, consistent actions can lead to big financial wins over time.
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