12 Best Money Saving Apps Canada in 2022

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Dennis Hammer is a writer and finance nerd with six years of investing experience. He writes about personal finance for Wealthsimple. Dennis also manages his own investment portfolio and has funded several businesses in the past. Dennis holds a Bachelor's degree from the University of Connecticut.

Everyone knows saving money is important, but most of us fail to make it a priority. We move a few bucks to our savings here and there, then spend it anyway. We vow “This is the year I’ll save!” but rarely make any headway.

We also spend money inefficiently. You’ve probably paid an unnecessary late fee, forgot about a subscription service, or failed to take advantage of a coupon or deal. You aren’t alone Managing every penny we earn and spend is exceedingly complex, so you’ll need a little help.

Best Money Saving Apps

Your finances are the perfect place to take advantage of smart technology. We’ve put together a list of the best money saving apps in 2019 to help you organize your budget, tighten up your spending, and put some money aside.

We built a better way to save with higher rates than big banks. Get started with Wealthsimple Save.

1. Wealthsimple

Cost: Free (and no account minimums)

Devices: Apple and Android

We’re a bit biased here, but we think the Wealthsimple app is one of your best money saving tools. Because we designed it to be. Our goal is to make investing easier.

The Wealthsimple app gives you access to our automated investing service and dedicated wealth concierge. You can get answers to your questions about your investments with just a tap. You can also view your performance, check on your asset allocation, and add funds using a secure PIN.

Just like the web app, the Wealthsimple mobile app focuses on privacy and ease-of-use. You have the option to use either TouchID or to set a unique 4-digit passcode on iOS and a lock pattern on Android for quick, easy, and secure access to your investment portfolios.

2. Clarity Money

Cost: Free

Devices: Apple and Android

Clarity Money helps you save money by taking a hard, insightful look at your finances. The app analyzes your specific financial situation and offers tips to improve it. They use artificial intelligence, machine learning and data science to personalize your experience.

The app will help you identify and cancel unwanted subscriptions, stay under budget (and notify you when you overspend), track your monthly expenses (including your recurring bills), and save toward your goals. It also monitors your credit score and makes recommendations to improve it.

3. Honey

Cost: Free

Devices: Apple and Chrome

Honey is a search engine for coupons. Simply type in the name of a retailer and Honey will compile a list of coupon codes associated with that business. It will tell you the code, what you get for it (i.e., “10% off summer wear”), and when it last worked. It lists over 37,000 retailers!

The best part about Honey is that doesn’t require any extra work. You don’t have to punch them in manually. Honey will try every code it found for that store, discard the ones that don’t work, and apply the biggest coupon to your purchase automatically.

4. Raise

Cost: Free

Devices: Apple and Android

Raise is a gift card marketplace where you can purchase unused gift cards for less than face value.

Let’s say you’re having dinner at Olive Garden. While you eat, you jump on the app and check Raise for Olive Garden gift cards. You find a $50 gift card that only costs $45 and use it to pay for your meal. You just saved $5!

So any time you plan to shop in stores, shop online, or give a gift card as a gift, check to see what’s available on Raise. Buy and spend gift cards to maximize your savings.

5. GasBuddy

Cost: Free

Devices: Apple and Android

No one enjoys overpaying for gas. GasBuddy ensures you never pay too much for gas by identifying the best prices in your area. They boast that they can save you $340 per year.

You can also use the app to filter gas stations by location, brand, amenities (like car washes, restrooms, etc.), and reviews. If you join their Pay with GasBuddy program and pay for gas through the GasBuddy app, you can save 5 cents on every fill up. That may not seem like a lot, but it adds up over time.

6. Mint

Cost: Free

Devices: Apple and Android

When it comes to personal finance, information is your most powerful tool. Understanding your finances well is key to making good decisions. A budgeting app like Mint can be a useful tool.

Mint gives you a high-level view of your entire financial situation. You can see what you owe, to whom, and when you need to make a payment. You can can create budgets for individual expenses, like a limit for restaurants, entertainment, or groceries. Mint also makes recommendations to help you reduce your spending.

7. Amazon Shopping

Cost: Free

Devices: Apple and Android

It’s no secret that prices are often cheaper when you buy online. Those businesses aren’t burdened with heavy overhead expenses, so they can give you better deals. A key way to save money, therefore, is to purchase online whenever your products are cheaper.

The Amazon Shopping app lets you scan bar codes of products you see in stores to find out if they’re cheaper online. The app will also recommends similar products to the one you scanned so you can find the best deal.

8. Digit

Cost: $2.99/month (30 day free trial)

Device: Apple and Android

Saving money is actually quite hard. Like a lot of people, you’ve probably moved money into your savings account only to remove it a week later to pay a bill.

You don’t have to save hundreds or thousands of dollars of month, but you should get in the habit of saving something. Every little bit helps. An app like Digit helps too.

Digit helps you save the perfect amount of money every day. It analyzes your spending and income and moves small amounts of money from your checking account into a savings account each day. You can withdraw your money at any time with no charge. You even earn 1% interest while your money sits in a Digit saving account.

9. Tally

Cost: Free

Device: Apple and Android

If you have multiple credit accounts, managing balances, payment dates, and minimum payments can be confusing. If you don’t have a handle on your credit profile, you could end up paying excessive interest or fees.

Tally helps you manage your credit cards and pay down your debt by taking control of all your credit accounts. You need a 660 credit score to qualify, but applying does not affect your score.

Once you’re approved, Tally will analyze your accounts to find ways to help you eliminate your debt and save money. It gives you a line of credit with a low APR (annual percentage rate), then uses the new line to pay your credit cards every month. It makes sure you pay at least your minimums on time so you don’t absorb extra fees. You just make one monthly payment to Tally.

10. Cinch Financial

Cost: Free

Devices: Apple and Android

The Cinch Financial app helps you take control of your personal finances by connecting to all of your accounts to gather a complete picture. Then it uses algorithms to analyze your financial life, forecast future performance, and offer actionable steps to spend less and save more.

11. Tip Yourself

Cost: Free

Devices: Apple & Andriod

Tip Yourself is a clever app designed to help you save to meet certain goals. You might use it to build your emergency fund, save for a vacation, or purchase that new TV.

The app is simple: Reinforce your good habits by tipping yourself each time you do something positive, like going to the gym, skipping an impulse purchase, or making a healthy meal. You can reward yourself for any positive goal.

Tip Yourself helps you track your progress visually. Watch your vacation fund fill up each time you give yourself a tip. You can also track your tips on a calendar and share your wins to the community.

12. Paribus

Cost: Free

Devices: Apple

Have you ever made a purchase only to see that product’s price fall a week later? Frustrating, right? Many retailers help you out by refunding the difference if one of your past purchases become cheaper within a certain time window (usually between 14 and 60 days).

But checking on your purchases weeks or months after the transaction is tedious and time consuming. Plus each retailer has its own program with unique rules and processes to follow.

Paribus helps minimize how much you spend by keeping track of what you purchase via inbox receipts. It checks if you qualify for a refund and streamlines the claim process. It works with 25 major retailers, such as Wayfair, Amazon, Best Buy, Staples, Walmart, Old Navy, Home Depot, and more.

Start Saving Money Today

No one likes to spend more than they need to. Grab one (or several!) of the best money saving apps in 2019 to optimize your budget and grow your savings account.

It's never too early or late to start saving. Earn high interest on your hard earned cash with Wealthsimple Save. There's no account minimum so you can start saving as much or as little as you like.

You can sign up in a matter of minutes, so what are you waiting for? Get started with Wealthsimple Save.

Last Updated June 5, 2019

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