How to use Digit, the Google-backed bot that analyzes your spending habits and automatically saves your money

Digit is an iPhone app that strives to make saving money as passive as possible.

To do this, Digit analyzes your income and spending patterns, and then automatically dips into your checking account and puts a few dollars into a savings account - typically $2-$17 every 2-3 days. You can also choose whether you want to raise or lower the amount you save in the app's settings, and all saved money goes into a FDIC insured account. Digit doesn't charge any fees.

If you are someone who takes an active interest in investing, this isn't the app for you. It's more about building good habits for people who tend to spend and not save. And venture capitalists are betting there's a market for that. Digit, which launched in 2014, has raised $13.8 million so far from GV (formerly called Google Ventures), General Catalyst Partners, and Baseline Ventures.

Though Digit has a separate app, one of its draws since launch has been that it communicates with you primarily as a chat bot in a text message thread (well before the current bot craze).

Here's what it's like to use Digit: