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Updated on Tuesday, August 27, 2019
Want to put some cash away for a rainy day, but haven’t quite made your savings account a top priority? To make saving easier, you might want to consider using an app.
The Long Game is a free savings app that features a savings account, cryptocurrency, “coin” earnings and other rewards for playing games within the app. The app lets you create virtual jars with designated saving purposes, and it’s FDIC-insured so your money is safe and protected.
How does the Long Game app work?
The concept of the Long Game app is simple: Decide how much you want to automatically save and then earn coins by making deposits and playing games. When you successfully complete missions along the way, such as saving a certain percentage of a goal, you earn more coins. You can then use these coins to play games where you can earn more coins and even cash that will help you further boost your savings.
If you want to try the Long Game app, you can download it from the App Store or Google Play. Once you sign into the money savings app, here’s what you can expect:
Learn more about earning coins
Once you sign in, you will be taken to a screen that shows you that you will earn three coins for every $1 you deposit and up to 24 coins for every $1 that you autosave. You will use these coins to play a variety of games such as scratch-off tickets, matching cards and spin the wheel. These are virtual coins, meaning they are not worth real money, and they expire about seven days after you earn them, so it’s an encouragement tactic to keep depositing money into your account to earn more coins.
Set up your savings jars
Next, it’s time to set up your savings jars, where you personalize virtual jars and designate what the money you put in those jars is supposed to be used for. You can choose one of the app’s options to name your jar, such as Fun Money, Education, F.U. Fund, Dream Home, Retirement, Variety, Kiddo’s Future and Mama’s Bills, or you can choose a name of your own. You also can personalize the colors of your savings jar.
Next, the app asks you what your financial goal is for that jar. You can choose to skip this step or enter an amount to save, from $100 to $100,000. Choose a date by which you want to accomplish this goal. If you choose a date that isn’t mathematically possible with your deposit amount, the app my ask you if you want to boost your monthly deposit amount.
The app then provides your next milestone, such as earning a certain amount of coins once you hit a percentage of your savings goal. The app also provides the option to deposit a chunk of money to instantly to accomplish that goal, but you can choose to skip that.
You can create more than one jar and divide your money between your jars however you wish. For example, if you are depositing $50 per week, you can designate $25 of it to go into your jar for saving for your kid’s college education, and the other $25 to go into your “Fun Money” jar. How you divide your money between your jars is up to you.
Set up autosave
Once you make an initial deposit (of $5 or more) and set up autosave, you will earn coins to play games and, hopefully, win cash (you can win more coins to play with, too). You can choose for your money to be automatically saved on either your payday or on a weekly, monthly or bi-monthly basis. If you choose to save on a monthly basis, you can select which date you want the money to be automatically withdrawn, but only up to the 28th of the month.
You can also decide how much you would like to automatically save. Remember, the less that you deposit, the less coins you will earn. For example, a $200 automatic deposit will earn you 1,200 coins. On the other hand, a $75 automatic deposit only nets you 450 coins, while a $25 deposit earns you just 150 coins.
Once you confirm your autosave information, the app will remind you what your next deposit date is.
Make your first deposit
Now it’s time to complete your first deposit. Remember, the larger your initial deposit is, the more coins you will earn. If you choose the minimum allowed deposit, which is $5, the app will prompt you to earn more coins by making a larger deposit.
The app will also give you other optional goals that you can meet to earn more coins. For instance, if you reached $10 in you savings account, you could earn 100 coins. If you deposited money each week for two weeks straight — not by using autosave — you could earn another 100 coins. The app also allows you to earn $50 when you refer 10 friends and invite friends to join.
I did receive extra bonus coins for signing up and making my first deposit. With more than 1,000 coins earned just by signing up, I was ready to play.
Start playing games
Once all of the logistics are set up, you can start playing games. You have to pay coins to play, and you can earn coins, cash prizes or cryptocurrency if you win. The app will give you more information on any crypto you earn, and you can easily withdraw it by transferring it to an external wallet.
There are several games on the app to choose from, including:
- Flip It: An instant matching game in which you can win up to $100. It costs 60 coins to play, but remember that no money from your savings balance is used to play in any of the games. Flip all of the cards and if you match two, you win coins or real money that you can then deposit in your savings account.
- Mondo Spin: This is a high-roller game that costs 1,000 coins to play, and the chance to win up to $5,000. If you don’t have a lot of coins, the app may recommend that you play a less costly game.
- Spin to Win: Spin the wheel for 100 coins and you can win coins, money or nothing at all. The first time I played this game I won $1, which was immediately put into my savings account.
- Omega Millions: For 20 coins you can play this weekly game that’s similar to the weekly lottery games. There is a potential to win $1 million, according to the app.
- Red’s Meadow: Spend five coins to scratch off all of the squares on this virtual scratch-off lottery ticket. If get any matches, you win coins.
- Lucky Slots: Try the one-arm bandit at different betting levels, with costs ranging from five coins to 100 coins. You can either win coins or up to $1,000 in real money.
You can earn additional coins from games by referring a friend to Long Game and then inviting them to play against you in a game.
You can level up in games too, by winning Brains Brains, PowerUps and Mystery Boxes. Leveling up unlocks new games and rewards and can earn you free coins or crypto along the way. Don’t worry if you’re not sure what crypto is or how it works. The Long Game aims to educate users about the crypto tokens you are earning.
What is the Long Game savings account?
The Long Game app functions as a free savings account. It might be nerve-wracking to give an app your personal information, but this app is FDIC-insured and protects your information, just like your bank does. It is also interest-bearing, earning you a 0.1% APR (as of August 27, 2019), in addition to any money you win in games. All deposits are held with the app’s partner bank, Blue Ridge Bank.
Whether or not you choose to replace your current bank account, if you have one, with this app is up to you. However, most banks provide automatic deposit options to move money from your checking to your savings account, just like this app does. The idea is that Long Game tries to make saving money more fun with prize-linked savings, which is intended to encourage you to save more money with the chance of winning a prize.
The final word
If you find that saving money is harder than you thought it would be and you’d like some help and incentive to remember, Long Game might be the app for you. None of the money that you deposit is at risk when you play games and you can withdraw it at any time, making this an easy way to save if you’re incentivized by prizes.