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How to Start Saving While You Spend

The Guac App allows people to put aside money into their designated savings every time they spend!

Everywhere you look there are ads encouraging you to buy things to help you improve your life. You can order them now and probably get them tomorrow. Instant gratification! That may make you happy now, but its not setting you up down the line.

“If only saving money was as easy as spending it!” And with that thought, Guac was born! This app is definitely the best way to start saving.

What is Guac?

Guac is a new kind of app that allows people to put aside money into their designated savings every time they spend. Through this app, you can save money while you spend.

The idea came after I’d been struggling to find a savings tool that is geared towards short-term savings goals ever since I graduated college back in 2011. 

I’d tried them all; round-ups, saving the change in my pocket, savings algorithms; you name it, but none of them ever worked for me. My biggest wish was to have complete control of my savings and the opportunity to achieve a savings goal in weeks or months.

The savings tools that were available didn’t work for me or how my mind worked. They gave me no real control and were more focused on saving for the long-term. Call it lack motivation or self-discipline but that never seemed to get me excited, and it just wasn’t going to work for me! 

Then it hit me; I needed to feel rewarded for saving not feel rewarded only for spending!

I realized that many people seem to have a similar problem with saving, and that the lack of immediate reward for saving is one of the deeper reasons why some people have found it so difficult. 

And yet the same people – me included – had many savings goals they needed to hit, many of them short-term goals like cars, vacations, and things that we need in the short term but are not within our reach immediately.

Spend a Little, Save a Little, With Guac.

Realizing how people feel inside when they spend, we began designing Guac. We started developing the app so that people could save aside a designated percentage each time they spend. This allowed people to save towards their savings goals while they spend towards the things that want at the moment.

How does the Guac app work?

Think of Guac like paying or tipping yourself each time you spend! In American culture we are already used to a 10-15% service tip as the norm, and so it’s easy to apply the same concept to tipping or paying ourselves first when we spend on something we want!

Guac automates this process for you. What’s more, it allows you to set up little savings goals that you can allocate these savings to, for example you could set up a savings goal in Guac for your new car, a down payment, or a rainy day fund. Even a post-pandemic vacation fund. You choose what to spend your money on, and in Guac you choose what to save your money on!

This means that cup of cappuccino from Starbucks, your next groceries order, the movie you watch on your Prime account, or even your next take-out pizza could all help you to achieve your savings goals. 

Guac users have complete control over how much they choose to set aside, on which purchases, and even control how their savings are dispersed through their Guac goals. You can set your target amount and savings target date to achieve each goal and Guac gives you a report to keep you on track. You can adjust your savings percentage and spending limits based on Guac’s feedback. This allows you to achieve your savings goals in the timeframe you want, whether weeks or months. 

What else do I get?

Guac is free to use and there are no monthly fees! And Guac is now partnered with the top fashion, auto, travel, footwear, apparel, and beauty companies so that you can make in-app purchases in Guac’s Marketplace. These retail partners even give cash back to Guac users when you use Guac to make purchases in Guac’s Marketplace! 

What do people think?

What started as a way of helping me get better savings habits has become very popular with Guac’s users.

One Guac user, Ray, said, “I love this app, my issue with other savings apps (mainly round-up ones) is that it saves too slow cause I’m only saving a few cents with every transaction. With Guac, I can save by setting aside a % of what I spend. I can adjust the saving rate depending on my current financial situation. I also really like that you can organize your savings into different goals. I’ve already saved $2,000 in a few short months for my next vacation when this dang pandemic is over!”

Another one of our Guac’s users, Hawk, said, “It was super easy to link my account and quickly see my savings in action. Not only was I able to hit my goals quickly I was able to save on my purchases. Looking forward to some new goals for 2021!”

Guac – the best way to start saving!

Many people now put such a large emphasis on the cool, high value items that they can post, desire, and buy through social media. Tying this behavior into a way that they can also save at the same time they are spending helps to anchor a savings goal and a savings reward mentality through the same action as spending money.

You can get the same short term fulfilment from saving as well as from buying! Saving for the long-term doesn’t work for all people; heck, I know that! But tying saving to spending does work.

As a generation we are increasingly conditioned to demand instant gratification through spending. And now that’s something Guac provides… through saving.

We hope this article detailing the best way to start saving by using the Guac App will help you on your savings journey. Looking for more articles like this? Be sure to visit the personal finance section of our site.

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