Saving money is one of the most important pillars of good financial health. But even though everyone knows they should do it, many do not because they believe it requires hard work and sacrifice. In fact, 4 in 10 American adults wouldn’t be able to cover an unexpected expense of $400 with cash, savings or a credit-card charge that could be quickly paid off.
This is why Tally decided to offer a completely free automated savings service — to make it effortless and rewarding to set aside money and build better financial habits.
Introducing Tally Save
We are thrilled to launch Tally Save, the newest addition to our suite of automated financial services. Whether you’re saving for a rainy day, a vacation or another big-ticket purchase, regularly stashing a small amount of money with Tally Save can have a big impact over time.
Set it and forget it
To start saving, download the Tally Save app and sign up for free. Next, connect your checking account and choose how much you’d like to save. You can start by setting aside as little as $5 each week, and Tally will automatically transfer that amount from your checking account to an FDIC-insured savings account. Then, sit back and watch your savings grow.
Earn rewards when you save
Instead of earning rewards for spending money, get them for saving it. Tally Save will give you points for good financial behaviors, like consistently setting money aside or paying more toward your credit card debt. You can redeem these points for gift cards from Amazon, Target, Starbucks and many more. You can even use your points to donate to a charitable cause, such as charity: water.
Pay off credit card debt faster
With Tally Save, you can also connect a credit card to pay off your debt faster. The money you’ve set aside will be used to chip away at your debt by making an extra payment toward your card at the beginning of each month. Someone with $15,000 in debt at a 20% APR could pay off that debt twice as fast by saving $10 each week with Tally Save.
Our mission at Tally is to make people less stressed and better off financially through full-service financial automation. We started by building the first and only automated debt manager, saving people millions of dollars in interest and late fees. And now, with Tally Save, you can put your savings on autopilot. We’re excited to continue adding more automated services to do all the hard financial work for you.
Cheers to worrying about money less and doing what you love more.
To learn more about Tally Save, sign up for the waitlist. The top 200 people on the waitlist will get $25 added to their Tally Save accounts.