Afraid to Invest? 5 Apps That Make It Easy
We all know that we should invest (hint: doing so allows you to grow your money at a higher interest rate than a savings account). But where to begin? It can be intimidating to get started. Whether you’ve been cautiously testing the water for some time or you're just beginning to think about it, there are a number of mobile apps that can make the process a lot less scary. Read on for the apps we recommend for breaking into the investment game.
Acorns is the perfect app for beginners. Geared towards those who may not have a lot to invest up front, Acorns has users select a desired risk-level, from conservative to aggressive, and then link credit and debit accounts. The service then rounds up each purchase you make to the nearest dollar, splitting and investing the difference among six different funds for you.
Looking for advice on where and how to invest? Scutify compiles what other investors, reputable bloggers, and news outlets are saying across social media. Follow your favourite stocks and keep tabs on the conversation to track how investors are handling their money.
Stock Guru Pro
Stock Guru Pro’s main purpose is to help you make wise investment decisions. The app offers unbiased and in-depth data on thousands of companies including risk, valuation, financial strength, and momentum. Be warned: You should expect lots of charts, graphs, and financial data.
Shares 2 helps you understand your investment position without leafing through pages of dizzying brokerage reports. Add your investments to the app, as well as what you paid for them, and Shares 2 will automatically calculate your gains and losses according to current market conditions.
Betterment is all about expert-guided personal financial growth. The app has you set a long-term goal, pledge to make an automated investment at least monthly (you can chose daily, weekly, etc.), and set your risk level. From there, Betterment’s experts choose where to invest for you.
Did we miss any must-haves? Tell us in the comments!
Opener image by Mariaemb.