Five Apps That Can Help You Save
From counting your steps to making investments, there’s an app for just about everything. But when it comes to your future, you need to be in the know. That means knowing which apps can help you reach your money goals. If you’re ready to dive into investing, here’s five apps that can help you make smarter financial decisions.
Acorn
People as young as 25 should start saving for their retirement. Unfortunately, not everyone knows how to save wisely. With youth on their side, they may think they have all the time in the world to build up their savings. Acorn makes saving for old age easy. It simply rounds up purchases to the nearest dollar and invests the change into a retirement account. You can get started for as little as $5.00.
Lively
A Health Savings Account (HSA) is a great way to pay for medical expenses tax-free. Lively helps savvy savers manage the health-care accounts with ease. You can set up recurring or one-time transfers, which you can then invest. You should think about investing in short squeeze stocks. The true definition of a short squeeze stock is when investors predict a certain stock’s price will drop but the exact opposite occurs. The price actually increases and you make a profit. If you’re new to investing, it’s a good idea to learn as much as you can. You can review this guide on short squeeze stocks and how to profit from them here.
Mint
If you’re looking for a better way to track your spending, so you can invest more, you should use Mint. This app tracks your spending activity and synchronizes all of your accounts and credit cards. You always have a clear view of credits and debits, which helps you make better financial decisions.
Stash
Stash makes investing easy, especially for newbies. With a click of an app, and only $1.00, you can dip your feet into investing and build a personal portfolio. If you have children, you can set up custodial accounts and start investing for them early. As you become more knowledgeable, you can increase how much you invest. There’s also options for IRA and retirement funds.
PocketGuard
Think of this app and your own personal security guard. It links to all of your accounts and keeps track of how much you really have available for purchases. You can set spending limits, which alert you when you reach that threshold. You can also see where you’re spending the most money, which may come as a surprise to you. You can then alter your spending habits and save more while still enjoying coffee out or eating at your favorite restaurant
How to Make Your Investments Profitable
Aside from using apps, you need to invest wisely. Determine both your short and long-term financial goals prior to getting started. Some investments are designed to grow over long periods of time, like a retirement fund, whereas others are set up to deliver returns in shorter periods of time. By planning ahead, you can use your money to build both wealth and security.
