Yuricazac | Shutterstock

Want to learn new ways to make extra money?

Join the family to get updates from us and tons of cool freebies:

This post may contain affiliate links. Disclosure
I’m 27.

That’s that funny age where you know you need to start saving money like a grown-up, but finding the willpower to do it is… tough.

Maybe you can relate.

But since I have a personal finance blog, sometimes I get the chance to test drive some neat tools designed to help people with their money (and clearly I need all the help I can get, too).

The latest tool I’ve been playing around with is Rize.

What is Rize?

Rize is a new online savings platform that allows you to save automatically each month towards different financial goals. On whatever schedule and pace you choose.

Part of why I’ve had such a hard time saving over the last few years isn’t necessarily a shortage of money — it’s not having a good system in place to help me save. So outside of investing for retirement, I’m not really doing a whole lot of saving.

And that’s a problem, especially when you start getting texts like this:

YIKES.

Time to get my act together, right?!

Goal-based savings is where Rize comes in

I feel like Rize was designed for guys (and girls) like me. I hate saving just for the sake of saving (which is probably why I suck at it). But if I have set goals I want to hit, and I have a way to track them, I might just actually do it.

How Rize works once you join:

🎯 Choose your goals

📅 Set your schedule

🔒 Connect your bank

🛀 Automatic, no-stress savings

Not every savings goal has to be a big one, either. One thing I really liked is that you can make as many goals as you want, and everything’s easily customized.

rize money goals yoga

With engagement ring hints being dropped, I decided now was a good time to give Rize a test run and see for myself what it’s all about.

How I Started Saving with Rize

So I’m not kidding when I say this: the entire process literally took me less than 2 minutes.

I actually thought I had missed something; that’s how simple it was. They really do know their target market, haha.

Two things to note:

• Their interest rate is 0.90% APY, which is 15x higher than the national average.

They will give you a free $5 boost when you open your account.

Opening my Rize account

I hate paperwork and legal stuff just as much as the next guy, so I was super relieved when I found out I could take care of everything right from my phone. No paperwork and no confusing contracts (who reads those, anyway?!).

Open Account ($5 Bonus)

Here’s how simple it is:

Save money with Rize. Open a Rize account today

1. I did the whole thing on my iPhone with no issues.


2. I started with just one goal to get a feel for how it works. I like that they didn’t demand all my personal info right away.


3. More details on your goal. This can be easily edited later.


4. Choose your timing.


5. Pick the best day of the week for your savings transfers to happen.


6. Enter personal account information


7. More routine info. I think when I got to this screen I was about 70 seconds in, and less than a minute from being totally done.


8. They’re required to have this info on file. They aren’t stalkers, promise.


9. They aren’t stalkers, I promise. Haha


10. I thought this step would be a headache but it was really quick and easy.


11. As of now, Rize runs on a “pay what you think is fair” model, which is great. Not gonna lie, I hit $0 just so I could decide if I liked it.


How to Use “Power Ups” to Save Faster

After I opened my account and had my first goal set, I started poking around a bit more. That’s when I found Power Ups.

The idea behind Power Ups is to take your savings to the next level without really “feeling it”. It’s actually kinda brilliant.

Power Up #1: Accelerate

Accelerate gradually pushes you to save more by automatically increasing your monthly savings 1% each month. If you’re saving $200 this month, next month it will be $202. Do that for a year and you’ll be saving almost 13% more than you are today. Those little increases make a big difference!

Power Up #2: Boost

You know that feeling when you find an extra $5 in your pocket? That’s the feeling you get with Boost. Boost monitors your checking account and pulls out a bit of spare change when it makes sense, usually once or twice a week. Transfers will range from pennies up to $5 or 5% of your monthly savings (whichever is lower). Your scheduled deposits will still be the vast majority of your monthly savings.

Rize helps me get out of my own way, which is why I think I’ll keep using it.

Like I said at the beginning, it’s not a shortage of income that is making me not save…it’s myself. By having something like Rize working in the background to make sure I save is actually a really big deal to me.

Do you think Rize could help you save money for the goals in your life that are important to you?

Ready to save?! Rize is giving you $5 for FREE when you join.

Choose your goals, connect your bank, and start saving automatically.

Claim $5
Author
Jeff Proctor

Yo! I'm Jeff. A personal finance nerd and entrepreneur at heart, I'm here to bring you all the latest cool ways to make and save extra money. I want you to get EXCITED about your money now so you can live life to the max!

3 comments
Kimberly Clay 4 months, 10 days ago

Hi Jeff!

What a great way to save! I’ve got a few young people (and truth be told, a couple older folks) in mind to pass this info along to. Thanks for sharing this!

Best!
Kimberly

Reply
Jeff Proctor 4 months, 10 days ago

Thanks Kimberly!! Pretty neat what technology is helping people do these days 🙂

Reply
Feliciaharmon 3 months, 23 days ago

I signed up with them and had questions to ask them they never reply back I even told them I wanted to cancel my account still no reply this is a bad app

Reply
Leave your comment

3,362

More Cool Stuff

This Woman Added Over $6,000 to Her Bank Account in One Year.

Sometimes it takes a dose of cold reality to make you realize that it’s time to save money. Fortunately, I’ve been working extra hard over the past year to fix my finances and make up for my not-so-awesome spending habits.

Jamaica Winship 04 Nov

$2,100 in 21 Days: The Ultimate Money Saving Challenge

What would you do with an extra $2,100? Make it happen! Follow the steps in this 21 Day Challenge and you will be well on your way to saving thousands of dollars over the next 6 months to 1 year.

Jeff Proctor 28 Sep