10 best money-saving apps to help save on day-to-day expenses - MarketWatch

"If you don't already budget your money, now might be a good time to start," said Chanelle Bessette, personal finance specialist at NerdWallet.

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With the current inflation rate hovering at around 8.5% as of the end of July — that's a near 40-year high — there is no shortage of reasons to find new ways to save money and cut daily spending. The cost of food, for example, has climbed 10.9% in the 12 months ending in July, according to government data, while gas prices climbed 44.9% over the period. Yikes.  "Your money isn't going to stretch as far as it did previously, so it's good to try to save where you can," said Chanelle Bessette, personal finance specialist at NerdWallet.

Firstly, you may want to put what savings you have into a high-interest savings account — some accounts are now paying 1.75% or more, and you can see the best savings account rates you may get here. Furthermore, "if you don't already budget your money, now might be a good time to start. The first step is to see how you're spending in different areas, and then the next step is to see if you can spend less."

To help reduce some of that spending and start building your savings, industry experts are here to weigh in on 10 of the most savvy shopping apps currently on the market. 

Most comprehensive: BeFrugal

So you're not sure exactly what you're looking for, but you know you want to save? BeFrugal might be one of the most comprehensive savings tools available to help out. Download this one for free on your smartphone's app store, or as a plugin on your web browser, and connect to your PayPal, Direct Deposit, Venmo, Zelle or a number of corresponding store gift cards. 

Once you're set up, let BeFrugal automatically apply coupons and start earning back cash from more than 5,000 retailers such as Macy's, Lowe's and Best Buy, or just browse the homepage for savings. At the time of writing this article, offers on the BeFrugal homepage included a Vera Bradley large duffel for $24, originally, $119; a pair of Gap shorts for $4, originally $50; and Lands' End vest for $6, originally $33. In addition to these insane deals, BeFrugal also offers cash back to use on future purchases, which are automatically loaded into your account for later use. 

You can see the best savings account rates you may get here.

Best for gas savings: Upside

The last time gas prices climbed as fast as they did in the 12 months ending in June was in March 1980, when they grew by 68.2% year over year, according to government data. Needless to say, everyone's in need of some relief at the pump these days. 

That's where Upside comes in. It's as simple as connecting to whatever card you use to pay for gas and searching for the nearest participating gas stations — as well as grocery stores and restaurants. Earn an estimated $203 cash back every year at participating gas stations, according to Upside, and put your savings towards future spending on one of the many affiliated stores. And while you're spending, Upside says it will donate 1% of all its revenue directly towards sustainability issues. 

Best for grocery savings: Checkout 51

Checkout 51 got its start with groceries but now it also provides cash back on gas, as well. Like many savings apps on the market these days, Checkout 51 is based on a simple step-by-step process: download the free app in the App Store and Play Store, check every Thursday for updates and new offers, tap "Redeem" and check off the items on your purchase list, upload your receipt after making your purchase and collect your earnings. Once you've accumulated $20, you can cash out.

Julie Ramhold, consumer analyst with DealNews.com, said apps that provide real cash back like these are a huge perk when it comes to saves with prices still so high in much of the country.  "Saving on both gas and groceries is a good way to cut back on your daily expenses, especially with school starting back and parents having to ferry the kids to school and extracurricular activities more now," she said.

Best to accumulate savings: Rakuten

Not many savings apps have elevated to the level of a household name like Rakuten  has since it was founded in 1997. And for good reason. This free app claims to offer cash back at more than 3,500 stores, including Walmart, Old Navy, Kohl's, Macy's and many many more. So far, Rakuten claims its more than 17 million members have earned over $3.7 billion in total cash back.

So how does it work, you may be asking? Simply sign up for a free account and start shopping on either Rakuten.com, the Rakuten App, or use their web browser extension. As you search for whatever it is you may be looking for, Rakuten will provide the ability to build your balance and get paid via check or PayPal. 

Ramhold recommends Rakuten, along with the DealNews app, of course, as one of her top savings tools. "The cash back rates may be smaller most of the time, but Rakuten occasionally offers perks like triple cash back during special events; either way, if you use it regularly, the cash back adds up and that can definitely help to cut the cost overall of your purchases," Ramhold said.

Best for simple cash back: Ibotta

Get cash back every time you shop — at least that's at least the promise that comes with savings app Ibotta. This shopping tool has partnered with 2,700 brands and retailers from grocery stores and clothing companies, to electronics brands and wine or beer retailers to bring some of the good deals to consumers. The company claims to have paid over $1.2 billion in cash rewards to its more than 40 million users since it was founded in 2012.

"Keep an eye out for special events to increase those savings as well — this year we've seen a summer-themed event as well as a back to school one, both of which provided extra discounts on popular products," Ramhold said.

You can see the best savings account rates you may get here.

Other good savings picks:

PayPal Honey

Add this app or browser extension, go about your regular shopping routine and PayPal Honey will work alongside to connect your cart with codes and available savings. Today, the network for this app has expanded to more than 30,000 online stores with a growing membership base of 17 million users, according to the company. 

"I really love to use Honey when I'm online shopping because the app aggregates promotional codes from its users, which can sometimes result in huge discounts," said NerdWallet's Bessette. "I've gotten 20-30% off in some cases."

Fetch Rewards

Using Fetch Rewards is as simple as snapping a picture of your receipt and earning points towards free gift cards. This app also chooses brands and products to feature to add additional points to your balance. Use its monitoring tool to track your spending and help create a budget.

Shopping expert Andrea Woroch says she has found this particular app useful on a number of fronts and suggests researching deals before you shop. "Check the special deals section before you shop to see which brands can get you more receipts so if you aren't married to any specific brand, consider switching to get more cash back," Woroch said.

ShopSavvy

Available on your smartphone, as well as in browser-extension form for Chrome, Edge and Safari; ShopSavvy offers users several useful savings tools such as price comparison, alerts for new savings and price drops, and price-tracking across thousands of retailers. The company has been around since 2008 and claims to have been downloaded some 40 million times.

"For online shoppers, download PriceBlink to your browser as this extension will alert you when an item you're looking at online is available at another site for less," Woroch suggests. "This is pretty helpful because they may point you to a website you wouldn't have thought to check before and the savings can be pretty significant. ShopSavvy now also has a browser extension but I haven't used it yet."

CouponCabin

When you download CouponCabin, either on your phone or as a browser extension on your desktop, you join what it boasts as its base of more than 13 million members. Since it was founded in 2003, CouponCabin has developed partnerships with more than 6,000 stores and retailers including Target, Macy's, Nike and Home Depot. VIP members can also earn an additional 12% cash back on more than 120 available gift cards. Cash payouts here can be accepted via check, Paypal, Venmo, ChasePayments or an Amazon.com gift card.   

RetailMeNot

Never miss a deal again with the RetailMeNot app and Deal Finder browser extension. Browse this free shopping tool and allow the algorithm to automatically find deals and promo codes to apply to your purchases. Some of the top offers at the time of the writing of this article include a 20% coupon at buybuy Baby, a free gift set with any $35 purchase at Sephora and 50% off a Mophie Air Portable Jump Starter Bundle at HSN.

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