With over a third of Americans not having enough to cover a $400 emergency, there’s a serious need to find ways to motivate more people to save their money.
But what if I told you there was a nonprofit that pays you to start saving at the end of each month? This is how SaverLife motivates you to reach your savings goals much faster. They’re on a mission to help others save for those last-minute emergencies and beyond.
Let’s look at how this program works and how it can help you achieve your savings goals!
What Is Saverlife?
Originally founded as EARN in 2001, Saverlife is a 501(c)3 non-profit organization with the mission to teach people, primarily those with low incomes, how to save their money by gamifying their experience and getting rewarded for it.
While traditional savings accounts allow you to accumulate savings, they don’t go out of their way to motivate someone to do so. Many traditional banks have the same outdated, hard-to-use layout, making it a turn-off for people looking for a more interactive experience.
Unlike most banks, Saverlife adds that extra push you need to learn more about managing your money correctly. The platform offers materials like community forums and Money101 resources to teach you financial literacy as you earn points. They also have many savings challenges you can participate in if you link your bank account to the platform.
Can You Earn Cash With Saverlife?
One of the best features of this app is that you’re eligible to earn points and redeem them for some generous cash rewards.
- Reading the article of the day (15 points)
- Logging in to Saverlife at least once a week (50 points)
- Posting on forums (15 points)
- Logging your budget (25 points)
- Save $5 per week (250 points)
Once you connect your bank account with Saverlife, the platform tracks your savings progress every Monday and rewards you with points if you meet your goals.
You can also use your points to redeem up to three Scratch & Save cards per week, with the chance to win up to $15 in rewards. If you win any awards, you’ll need to verify your information and get your prize through an ACH transfer, PayPal, or Venmo.
Saverlife also has more long-term or one-time challenges that give you a chance to win even more rewards. For instance, the platform’s 30-day Race to 100 challenge gives everyone who raises their savings by $100 within the time period a chance to win an extra $100.
Is Saverlife Legit?
Besides being a 501(c)3 non-profit organization, Saverlife goes the extra mile to ensure your information is safe. The platform has read-only access to any of your account details and uses 256-bit encryption to prevent security breaches. Based on customer reviews, Saverlife’s members are satisfied with its services. The platform genuinely wants to help people learn valuable personal finance skills.
How To Sign Up For A Saverlife Account
Signing up for a Saverlife account is incredibly easy. All you need is to be 18 or older and have a valid email address.
Here’s how to join the platform:
- Visit the platform’s website and create a free account.
- Confirm your email address and phone number.
- Link your preferred bank or Paypal account to the app.
- Check your dashboard for activities to start earning points!
Besides their desktop version, you can also make a shortcut to the mobile site onto your phone for better access!
The Bottom Line
While it may sound crazy to think an organization is willing to pay you to save, Saverlife is a legitimate way to make extra cash and learn how to save. With millions of low-income Americans struggling to save money at the end of each month, it provides a fun way to gradually build an emergency fund.
If you want to earn some cash rewards and learn more about managing your money, be sure to sign up for a Saverlife account today!