October 6, 2021

What's "Smart Savings" and how it works

Smart Saving, our savings algorithm that makes daily contributions to your debt or savings goal depending on your level of aggressiveness. Here's everything you need to know to about how to save money each and every day.

6 min read

Qoins Staff


Have you ever thought it would be awesome to make some progress towards my financial goals each and every day? Even if it’s $1-3 dollars a day, how much could I save by the end of a few months? We have the answer for you, we like to call it Smart Savings, the daily algorithm for saving money and paying off debt. Let’s start by defining what a Smart Algorithm is. 

What is "Smart Savings"?

Our algorithm will determine how much to contribute each day based on your selected preference level and you can adjust how aggressively to pay off your debt at any time. Choose how aggressive you want to be, and watch the algorithm make progress on your financial goals daily. And here’s the best part, if you have fluctuating income, or your goals change by the season then you can easily adjust how aggressive you’re saving. Let’s say it’s the holidays and you want to free up some money to purchase gifts. You can switch the algorithm to least aggressive, and then move it back to very aggressive once the gift-giving season is over. 

  • Least aggressive: $0.50 - $1.50 per day 
  • Moderately aggressive: $1.50 - $3.00 
  • Very aggressive: $3.00 - $5.00

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How much can Smart Saving save me?

Qoins customers save an average of $91.11 per month! That’s incredible progress and twice as much savings when compared to using roundups alone. With our Smart Saving algorithm, for example, you can have an emergency fund of $1,000 fully funded in under a year… without ever thinking about saving! And you will never notice a small change of $1 or $2 being taken out to accomplish your goals, so this is the best tool for automated contributions towards your debt or savings goal. 

Ready to start making progress every single day with Smart Savings? Download the Qoins app from the Google Play or Apple app store, and subscribe to the Qoins bundle. With the Qoins bundle, you will be able to set up both a savings and a debt-free goal. We've also got great options if you find yourself in a situation where you need to consolidate debt. From student loans to car loans, to credit card debt we can send it anywhere to help you reach your financial goals today.

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