Short on Savings? Let an App Do the Work for You

Set-and-forget banking tools turn pennies into big financial wins and steady peace of mind. Here's how to get from zero to your first $150 in just 30 days.

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Are you one of the many Canadians who wish they were further ahead on their savings goals?

With the cost of living on the rise, finding extra money to save can feel impossible without making some sacrifices.

But what if you could save $150 in the next 30 days without giving up your morning coffee, pick-me-up treats, or making dramatic budget changes?

Online banking tools and mobile apps that automatically transfer small amounts into your savings account — often called round-up, spare-change, or found-money apps — might hold your answer.

Here’s how they work.

Meet the “set-it-and-forget-it” tools

Round‑up and “found‑money” apps automate the task of saving, so you can painlessly set aside cash without thinking about it.

RBC’s NOMI Find & Save tool uses AI to analyze your spending patterns and spot extra money to quietly move into your savings account. It transfers up to $75 per day, five days a week.

Scotiabank’s free “Bank the Rest” program lets you round up debit transactions to the nearest $1 or $5 multiple to automate incremental savings.

Because these tools automate transfers, they can help you bypass mental blocks that come with manual saving. And you always have the option to pause them if you need to.

How much can you really save in 30 days?

Rounding up your purchase amounts may not seem like much, but those pennies add up.

Suppose you make three debit transactions per day and round each transaction to the nearest $5. Here’s what it would look like if a round-up app transferred the difference to your savings account:

Purchase	Amount spent	Next $5 mark	Round‑up transfer
Coffee	$4.25	$5.00	$0.75
Parking	$3.60	$5.00	$1.40
Lunch	$12.15	$15.00	$2.85
Daily total	$20.00	$25.00	$5.00

🎉 Over the course of a month, rounding up to save $5 per day could lead to a total of $150 in savings.

Why it works

Setting aside $150 in one go might feel daunting, but $5 a day feels more manageable, especially if it’s done hands-free.

“Big lump sums feel impossible when you’re already stretched thin,” Alyssa Davies, author of Financial First Aid and co-host of the financial podcast Money Feels, said in an email. “Small, automatic savings like round-ups bypass that overwhelm. They’re sneaky little wins that don’t require motivation or willpower, and over time, they stack up in a way that feels like magic.”

If you’re still skeptical about the power of small savings, Davies pointed out that “you build trust with yourself in tiny doses.”

Small, incremental savings are the first step toward your long-term financial health. And remember, something is better than nothing!

But is it safe?

Round-up savings tools provided by banks are safe because in most cases, the funds remain within a CDIC-insured financial institution. In other words, your money is always protected.

These features exist to support your savings goals, not leave you feeling strapped. As such, you can pause or disable them at any time, without penalties or fees.

What’s more, if your balance is low, you can typically move funds back into your chequing account to cover upcoming expenses. Tools like NOMI Find & Save even proactively transfer money back if your account balance is at risk of overdraft.

No round-up app? No problem

If your bank doesn’t offer round-up features, you can still automate savings using other tools to help you squirrel away extra cash.

Many banks offer programs to set up hands-free savings contributions, which can achieve similar results.

Even setting aside $25 each week amounts to $1,300 a year, which is nothing to scoff at. Tangerine’s Automatic Savings Program is a good example of a tool that can help you do this.

If automated savings doesn’t feel right to you, features like TD MySpend or CIBC Insights can help you understand your spending habits and find manual savings opportunities. These features analyze your spending and offer personalized tips to reach your savings goals faster.

Knowing where your money goes each month is crucial to confident financial planning and informed savings decisions.

Save for financial peace of mind

Having extra money in the bank is a huge stress reliever during price hikes, emergencies or job loss. If you’re struggling to build savings, automated round-up tools might be the gentle nudge you need to form healthy money habits.

So, are you ready to ease your financial worries? After 30 days of successful rounding up, consider putting your extra $150 in a high-interest savings account and watch your financial confidence grow.