What if there was a way to make money, while saving money?
An app called Grand claims to do just that, motivating people to save by entering them into a sweepstakes.
How does it work?
You'll need to link up your bank account to the app.
Then, you’ll designate how much money you want to set aside each week.
Each dollar gives you an entry into a sweepstakes; you get extra entries if you refer friends or reach certain milestones, like paying off debt.
The prize money varies. You could win a $2 prize, or you could win up to $1,000. If you wait until October, you could win $25,000!
But even if you don't win, you are still making some money off your savings.
Grand guarantees users a 1% return on their savings.
You will, however, need to pay $2/month to keep your account.
So if you do all the math, that means you'll need to keep about $1,100 in your account to make it count.
If you feel hesitant about linking up your bank account to an app, just know that the app is FDIC insured.
