If you start using Acorns you will be able to invests spare change from transactions into the stock market. You can set it so when the value of funds reaches 5 dollars you can have it put into Acorns. Using this tool is another way to help you get ahead and save for a solid financial future.
I suggest that you begin with $1 a day, and if possible set up a recurring investment. Making saving automatic is what will help you stay on track with your investments. Acorns does charge a fee of $1 per month so that means your savings are available and you get stock access for a super low rate!
Another app like Acorns called Stash which gives the user more choice in stock picks. Stash unlke Acorns it does not do Round-ups but instead has autostash amounts you can set. Stash is another company that charges a $1 monthly fee for balances below $5k and 0.25% annually for balances above $5k.
It allows you to choose where you invest, and gives you choices in certain niches that you may prefer. It gives you loads of investment guidance on its stashlearn platform. the apps are nice providing quality and easy uasbility. They offer a debit card where you can spend money from your account too!
The average return on investing in the stock market is about 5-7% annualy while the average return on a savings account is less than .1% annually. So when you put your money into that savings account at Wells Fargo and Bank of America the bankers are making millions of of deposits while you make less than pennies of YOUR money. Be smart and learn mre about investing into these new services designed to help outperform the current financial instuments available to you. You are young dont let your future be a struggle, get smart and get wealthy!
