What began as the ultimate family road trip nearly ended before it began.
In the spring of 2016, Linnea Nelson, an IT specialist from Denver, was excited to visit her sister in England and travel through 10 European countries in a rented van with six relatives.
But then…
“We were about an hour outside of their town — in England — when the van conked out,” Nelson recalled. “It was a holiday weekend. Long story short, there was one place that had one van for rent. But the price? $2,200.”
“I guess the trip’s off,” her family said.
“Hold on a minute,” she replied. “Let me check what I have in Digit.”
Problem solved: she had $2,400 sitting in her Digit account, an automated savings tool.
That discovery surprised her and her relatives, because saving wasn’t something she’d ever done consistently.
“I grabbed that money, rented the van, and we set off on our 10-country tour,” Nelson said. “People call it a rainy-day fund, and that was definitely a rainy day.”
Fast-forward to now: She’s accumulated more than $25,000 in her Digit account.
“I Had No Clue How to Save”
Only a few years earlier, in her mid-30s, Nelson couldn’t seem to hang on to any money.
“Not even a tiny bit,” Nelson said. She works in cybersecurity. “My credit was terrible. My then-husband was awful with finances and in charge of the money.”
At one point, a hailstorm wrecked their roof and the insurance claim didn’t cover it. Nelson had to borrow $10,000 from a colleague and repay it over time. “That was when I realized how fortunate I was to have someone who’d lend me that cash.”
“I had no idea how to actually save,” she said. “I didn’t know how to approach it in a way that would work for me.”
In early 2015 she stumbled across Digit online. She thought, “I’ve got zero savings. I need a cushion. Why not give it a try?”
Save Money Without Noticing It
For Nelson, Digit became a stealthy but powerful way to build an emergency stash. The application connects to her checking account and automatically transfers modest amounts into a protected digital savings account so she doesn’t have to take action.
Digit’s algorithm analyzes her income and spending to decide how much it can safely tuck away each day, then moves small sums into her FDIC-insured account.
“It knows when your bills hit,” Nelson says. “It figures out how much it can take, then it saves it. You don’t even notice the money is gone.”
“I love that I don’t have to think about it. [Digit] just handles it.”
Nowadays Digit typically withdraws between 6% and 9% of her monthly income.
“I like that it’s not a fixed figure. The amounts change with your earnings and spending, so it flexes accordingly,” Nelson said.
For instance, in January 2017 it saved 1.24%, while in February it moved 8.06%. If she knows large bills are coming, she can pause Digit easily.
Digit is free for the first 30 days and costs $2.99 per month after that. Plus, savers get a 1% saver bonus every three months.
$25,000 Saved in Three Years
Because of her Digit account, Nelson’s once-in-a-lifetime European road trip was rescued at the eleventh hour.
“That was the first time it really mattered,” she said.
Best memory from that journey: Sprinting with her sister inside the Colosseum-like Pulah Arena in Croatia while the kids cheered them on.
What did she tackle next?
After that European success, Nelson focused on a new target: kitchen countertops.
Yessss!
She set up a Digit goal called “Kitchen” and aimed for $3,000.
Her mindset shifted: “At first I thought, ‘Maybe just the counters.’ But when I hit that amount I thought, ‘Hang on, I might be able to save for the entire project.’”
New objective: a full kitchen overhaul.
“It’s overdue. Tile is falling off the counters.”
Nelson, who earns a six-figure salary as an IT pro specializing in cybersecurity, hasn’t taken any money out of the account since that European trip.
After saving toward her Kitchen goal from 2015 to 2018, she amassed $25,174.31 in savings with Digit.
“My target in my head is $30,000,” she said. “That should cover the renovation — unless another rainy day shows up.”
“That’s exactly why it exists, to rescue you when needed.”
Michael Bradford is a senior writer at Savinly. He’s here to help you save the day.
Interested in other effortless ways to build savings? Check out saving with digit for more tips and real-world examples.
