Dropped $150 on a 'smart savings' app and it backfired hard

I signed up for this app that promised to round up my purchases and invest the spare change. After 3 months it had pulled almost $200 from my checking account without me noticing, and the 'investments' were in some sketchy crypto fund that tanked. My mom always said 'if it sounds too easy, it's a trap' but I ignored her. Now I'm back to just stuffing cash in a jar like a boomer. Has anyone else had a fintech thing blow up on them like that?

3 comments

3 Comments

violamurray23d ago

Wonder if that "spare change" counts as a tax write-off somehow.

kim96323d ago

Everything's a write-off if you own a business and have a good accountant.

margaretm2323d ago

$150 lesson right there, I feel your pain. I once signed up for one of those "save your change" apps and after two weeks realized it had siphoned $40 out of my account for a "premium subscription" I never asked for. Ended up canceling and just shoving my spare dollar bills into a coffee can on my nightstand. Now I've got a jar full of crinkled cash that smells like stale coffee, but at least it's not funding some crypto pump and dump scheme. My grandma's envelope system is looking pretty genius right about now.