Zeona McIntyre

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5 Apps to Help You Save Up for Your Next Airbnb Investment

Zeona McIntyre

Hi Everyone,

My apologies that it has been awhile. My aim is to publish every two weeks but, unfortunately my Niece passed away in early Feb and I have been giving myself more space away from work to grieve. It has been challenging and my energy levels have been unpredictable. I have a lot of love and support in my community which has helped, I just thought I should let you know where I am at.

Thank you for understanding. In the meantime I have had some help from a friend to bring these resources below to you. I am hopeful that I will be on my normal schedule soon enough.



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5 Apps to Help You Save Up for Your Next Airbnb Investment


Whether you are saving up for your dream home to house hack, wanting to buy an out of state cabin to AIrbnb or are going to try you hand at MasterLeasing (arbitrage) down the street, saving for the initial investment capital can be a challenging process. Luckily, modern technology is here to help! If you strategize accordingly with the help of one of these apps below, you can utilize the 1-2 punch of leverage and appreciation, to help you escalate building long term wealth. While you have a number of options, like getting creative with financing as I did in The Road to My First Home, you can also create your own savings plan to make saving for your goals quicker, easier and automated. Everyone has their own needs, financial history, and capabilities. Thanks to creative folks behind these apps, you can start mapping out your own expenses and goals to help you stay on track.


Chime


With Chime you can create a savings account that routinely sets aside 10% of your paycheck when you deposit into the app. Using the Chime debit card, you can round up on your purchases and have this amount automatically transferred to your savings. The debit card is FDIC-insured so you will be able to make transactions and deposits safely. They do not charge foreign transaction, overdraft, ATM, and monthly minimum fees so you won’t be wondering where some of your money goes.


Petal


One of the biggest benefits of apps is that they can help you organize areas of finance you may not be familiar with. Designed with an easy-to-use interface and a minimal layout, the Petal app offers a ton of useful features such as a monthly budget planner and an interest calculator. It even has a built-in tracker for your credit score, which will come in handy when you officially make the move to purchase your home. The AutoPay feature will also help ensure that this stays at a reasonable figure, as you can make automatic payments every month and get 1% cash back when you pay on time.


Cleo


If you need a second opinion, Woman's Day recommends Cleo as it uses an AI-powered chatbot to help you make savvy financial decisions. You can converse with it as if you were texting any other person and ask questions related to your finances. Cleo reviews your spending habits and shows you how you’ve been using your money then gives you sound input on whether or not you have enough funds to make a specific purchase. Think of it as asking a friend for advice…ooh futuristic!


Qapital


Combining behavioral psychology and technology, users will be able to customize triggers on Qapital. You can set specific goals you want to save for, like buying a home, then create certain rules that will instantly send money towards this. These rules can even cover saving x amount whenever you run x distance and are entirely up to what you think is feasible. Funds will come from your checking account which you link to the app. You can even choose to get a Qapital Visa debit card and also an FDIC-insured checking account that you’ll get 0.1% interest from whenever you make a purchase which will round up.


Acorn


Anyone could benefit from some passive income and with Acorn, it’s both possible and simple. You don’t even have to think about your investments while still being able to regularly contribute as the app does it all for you. When you link your accounts, Acorn rounds up your transactions and invests this spare change automatically in any of its five professionally managed exchange-traded fund portfolios. Any amount generated for your investments may be one step closer to your dream home.

Downloading any one of these apps is sure to help make purchasing your next investment home more tangible. Go ahead and give it a try and see those dollars grow in ways you never thought possible.

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