Investing Spare Change Apps
Do you want to find out about investing spare change apps? Below is a list of 5 investment apps that let you make more money and help you earn through smart money management:
Even More On Investing Spare Change Apps:
Currently, Robinhood is one of the most popular micro inverted mobile applications.
The really great thing is that it is commission free.
They have a user base of more than one million users who have already invested more than $25 billion through their platform.
The best thing about Robinhood is that you do not have to pay any fee to enter the platform.
Stock trading is completely free and you can invest from as little as $1 to thousands of dollars.
You can create two types of accounts: a standard account and a Gold account.
A gold account gives you more buying power and more control over stock trading.
Robinhood is available on both Android and iOS platforms.
Stash app is another popular choice among micro investors around the world.
With Stash you can save any amount from $5.
After that, it is very easy to use the application and make investments.
Even if you have no financial background, you can use the app without worries.
This application basically teaches you how to invest and allows you to obtain benefits as a bonus.
A monthly fee of $1 is associated with Stash.
Considering what you are going to return, the fact is that it is virtually free.
When your account reaches $5000, you will be charged an annual fee of 0.25% per year.
3) Clink App
Clink is another application of micro investment.
It is like heaven for millennials (most of their users are) and it allows you to earn more money.
The minimum deposit required is $5.
In fact, you can deposit between $5 and $ 1000 or even more.
Although the daily limit is $10,000.
When you have accumulated more than $5000 in your account, you will be charged a monthly fee of $1.
Good thing is that there is no transaction fee.
You can save by setting a fixed percentage of recreational expenses, like eating out, and depositing them into your Clink account.
4) Acorns App
Acorns has got a lot of mentions in our personal finance section.
And rightly so, because it’s one of the best applications that allow you to save your rspare change automatically.
This is perhaps the most convenient of all applications due to its passive functionality.
Does Acorns actually make you money?
Yes, put simply if you stick to saving and then re-investing consistently then you can see that moeny growing. Plus their fee for a whole year is low compared to other brokers.
This application requires you to connect your credit and debit cards to your Acorns account.
Then the magic happens.
Basically, complete the daily transactions as normal and it will automatically deposit the additional change in your Acorns account.
All you need to do is connect your credit/debit cards.
In summary, there is a monthly fee of $1 for an account of up to $5000. For higher amounts, the fee is 0.25% of the amount.
5) Mylo App
The Mylo App is another alternative to the Acorns application and it has a 4.5-star rating on the play store.
It works almost the same as other investing spare change apps.
You only need to connect your debit and credit cards to your Mylo account.
Once the rest of the investment process is carried out you will see the updates on the screen.
Mylo converts your spare change into a mutual fund automatically.
It checks daily costs to the next dollar and saves it in your Mylo account.
Users reported receiving a good benefit from this application.
Positively, all transactions are made free of charge.
They charge a monthly fee of $1. There are no hidden fees at all so not much to complain about.
I hope you have enjoyed today’s roundup on investing spare change apps.
Faithful in your success!
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