Invest Spare Change - Microinvesting
What is it?
It is a mobile app and also a web app that will help you save and invest you spare change. It is more than just saving you spare change, it INVESTS your spare change, nice. So better returns than just money in the bank.
One of the best things is that it does this AUTOMATICALLY, so you don't need to think about it. Perfect for those of us that don't have any spare time to actively invest.How does it work?
It works by rounding up anything you spend to the nearest dollar then investing it.
~ E.g. You buy your weekly groceries and spend $98.45.
~ $0.55 will be put aside for investment. This means you spent $99 on "groceries".
~ Are you really going to miss the "extra" $0.55 cents?
By the time you pay for groceries, petrol, electricity, gas, telephone, etc. You could have a few dollars now being invested every week automatically, without thinking about it.Your Raiz Account
This is where you can select your investment strategy.
There are seven investment choices at the moment, these being.
: - Conservative, Moderately Conservative, Moderate, Moderately Aggressive, Aggressive, and Emerald. From left to right each one is more aggressive, than the previous one with the exception of "Emerald". Emerald aims to give the best return it can while still being socially responsible. All you have to do is select the investment profile that best suits you.Is it secure?
Same security as the Banks, in short security is taken seriously.What are the Fees?
For accounts with less than $5,000 in them the fee is $1.25 per month. For accounts over $5,000 the fee is 0.275% per year. Which is pretty good. You can withdraw whenever you like with no penalty and you can deposit whenever you like with no additional fees.On a side note it has been featured on:
Forbes, WIRED, Bloomberg Business Week, Business Insider, CNBC, Channel 9 News, Sky Business News
In short saving and Investing doesn't have to be complicated, or take any of your time, you can start now and plan your route to reaching your financial goals. Include this as another stepping stone.
Yes, I am a user of this service and it is delivering what I expect it to.☺. So if you do join use my link, that way we will BOTH get $2.50 as a gift from the Raiz team. My invite Code is https://app.raizinvest.com.au/invite/U4NX3D