So you’re not an expert on the stock market. Not even close. That doesn’t mean you can’t dip your toe into investing.
With the help of these six apps, you can save money, build a portfolio, and even learn more about the complex world of finance.
“Anyone can grow wealth,” Acorns states on its website. The micro-investing app lets you invest spare change automatically. Spend $8.50 on a sandwich, and Acorns will round up to the next dollar and invest the extra $0.50. Input your financial situation and goals, and the app will recommend a combination of ETFs (Exchange Traded Funds) to create a diversified investor portfolio. Acorns also has an option that lets you invest with longer-term goals, including retirement. The basic app costs $1 per month, but there are $2 and $3 monthly options as well. acorns.com
As a robo-advisor, Betterment might be the most elaborate investment app on this list. Upon signing up, you can enter information about your investment goals and finances. Then, Betterment builds you a personalized portfolio, advises how much to invest, and rebalances that portfolio over time. There is no account minimum, and Betterment charges a .25 percent annual fee on assets, which works out to be approximately $25 for every $10,000 invested. betterment.com
Robinhood allows users to invest in the stock market and make trades from their phones, for free. The company prides itself on its simple, user-friendly interface, stating that users can learn more about investing as they go along. The app provides commission-free stock, options, and ETF trades, meaning savings for investors who trade often. There is no minimum amount required to invest, just enough money to purchase whatever stock or ETF you want to start with. robinhood.com
Stash aims to make finding investments easier by providing users with access to a curated selection of stocks and ETFs based on a variety of factors, including a user’s risk profile. The app has a $5 minimum account balance, costs $1 per month to use, and doesn’t charge commission or trading fees. Like Robinhood, Stash also offers some IRA options for saving for retirement. stashinvest.com
This micro-investing app lets you automatically save and invest via bank transfers. You can either deposit fixed amounts on a one-time or regular basis, or deposit a certain percentage of spending every time you make a purchase. Clink costs $1 per month for an account containing up to $5,000. clink.com
Similar to Acorns, Bundil automatically invests small amounts from your daily purchases. Except that with Bundil, your spare change is invested in Bitcoin or another cryptocurrency of your choice. Once you connect your debit or credit card, the app rounds up to the nearest dollar and invests the extra cents. Then, you can track your portfolio growth, manage your currencies, or pause your investing at any time through the app. Plans start at $2 per month.