Mo’ money, mo’ problems right?
Well, maybe not. Budgeting and saving are integral parts of #adulting. But so is investing, building a financial portfolio, planning for retirement etc. Don’t worry if all of the things I just mentioned freaks you out a little, it freaks me out too. In honor of Global Money Week we did some researching and asked our money savvy friends about their favorite financial apps that help them keep organized and on top of things.
Acorns – perfect for saving those pennies and using them to invest.
Acorns is perfect for the millennial investor wannabe. The app “rounds up” your spending to the nearest dollar, and invests the difference. This is a simple way to put your spare change to work. You link a credit card and checking account to the app and then Acorns does the rest. You can even be specific with your goals for investing, whether it’s long-term or short-term investment, general, for children, or a major purchase.
Stash – invest as little as $5
Stash is fantastic for investing beginners. The app filters out all the technical terms and instead presents them with catchy, easy to understand names. Stash offers the opportunity to invest in “themes” meaning you can invest based on your values and interests. Not just your risk-tolerance and goals. This app is great for guiding you through the ins and outs of investing rather than managing your investments for you.
Kapitall – Kapitall is one of the best tools for practicing investing. It uses “basic video game mechanics to develop and easy, user-friendly interface that rewards you as you learn to invest” providing the perfect test run when it comes to trading. It lets you practice with virtual funds before you ever need to use your own money. To make it even better the app is “social” so if you’re the competitive type, you can show off your monthly trading portfolio to others on the app and even compete with other’s portfolios for real cash money.
Robinhood – Start Trading
Once you’ve practiced on Kapitall, its time to put that knowledge to the test. Rather than squirrel away that extra change under the mattress (okay, maybe it’s in your Chase Savings Account), but still – start trading for FREE with Robinhood.
By: Abby Smith
A classy and sassy dog-loving millennial who splits her time between NYC and MD. When she’s not studying for communications classes, the Pace University student loves exploring NYC and all it has to offer. Also a contributor for Spoon University and blogger for action based accessories and apparel brand La Cle.