Investing is one of the most complex topics in personal finance. In this video we talk about the 3 best money and personal finance apps that everyone should have: Robinhood, Acorns Investing, and Mint. With these three apps you will be able to save money, invest, and budget your finances! The first app that I think anyone who wants to be able to easily invest right from their phone should have is Robinhood. Robinhood is a commission free trading app that allows you to trade stocks, options, funds, and digital currencies. Robinhood pioneered the way for commission free trading and they are trying to make investing easy for everyone! They are removing many of the barriers that keep people from investing. Recently, they announced two new investment features that are in line with their mission of making investing easier for everyone. The first of these two announcements is fractional shares. Fractional shares allows anyone to invest for as little as $1! This removes the barriers to entry and allows anyone, even someone who doesn't have a lot of money, to invest! You could invest even in the most expensive stocks like Berkshire Hathaway, which previously would have been impossible for most people to invest in. The next feature they announced is DRIP campaigns, which stand for dividend reinvestment plans. DRIP campaigns are that when you get paid dividends from your companies, Robinhood automatically reinvests them into your stocks!
Next on our list is Acorns Investing. Acorns is Robo advisor that automatically saves and invests your spare change. Your Acorns account is funded through two options: roundups and recurring deposits. To begin, all you have to do is simply link a debit or credit card to your account. With roundups, when you make a purchase with an Acorns-linked card, the company will round the purchase up to the nearest dollar, withdraw that difference from your bank account and invest it into your portfolio. For example, if you spend $8.15 with your card, it will round that up to $9.00 and invest the difference of $0.85 into your portfolio. Over time this really adds up! The second feature which also helps to make saving automatic is recurring deposits. You simply pick a dollar amount you want Acorns to invest either every day, every week, or every month and Acorns will automatically deposit this amount into your Acorns account for you! You can pick as little as $5 dollars a day to thousands of dollars a day! Another feature of the app is the growth potential chart. With this chart you can see how much you're projected to have saved at any point in time in the future.
The final app is Mint. Mint is the absolute best app for money management, and it is great for creating a budget, tracking your spending, and getting smart about your money. The app allows you to connect all your bank and credit card accounts, as well as all your monthly bills, so all your finances are in one convenient place. Since you can connect all of your accounts, the Mint money management app is able to let you know when bills are due, what you owe, and what you can afford to pay (based on your available funds). The app can also send you payment reminders or warn you if you're approaching budget limits. On top of all of this, Mint gives you specific advice to gain more control over your spending like a personal advisor and even gives you a free credit score.
With all 3 of these apps downloads: Robinhood, Acorns Investing, and Mint you will have everything you need to be on the track for financial success! You'll be able to invest with Robinhood, save with Acorns, and budget your expenses with Mint, all right from the convenience of your phone!
_
Download Acorns Investing App and get $5 when you use my invite link:
-
FOLLOW ME ON:
LinkedIn:
Facebook:
Instagram:
Twitter:
TikTok:
Snapchat:
0 Comments