Let’s face it, in today’s world making a lump sum investment is hard. It is hard to accumulate $1000s of dollars at once. What if there was a way to invest under a dollar? There is!
Let’s get technical first.
What is an investment?
Basically, an investment is when you purchase goods that are not consumed today but are used in the future to create wealth. In the finance sector, an investment is a monetary assets that is purchased with the idea or hope that the asset will provide gain in the future or will later be sold at a higher price for a profit.
Most types of investments require a significant amount of money to make that until deposit to purchase an asset. Thankfully there are a few mobile friendly, beginner friendly investment options that do NOT require a huge deposit to start investing.
Here we will touch base on the company Acorns, which in my mind is the simplest way to invest.
What is Acorns?
Acorns is a mobile app that automatically invests your “spare change” into assets. The cool thing about Acorns is that you simply link your debit or credit card to the app and it will round up to the nearest dollar on any purchase you make with your linked card.
The cool thing I like about Acorns is you don’t have to have a set large number amount to start investing. Basically, you’re doing your every day shopping and benefiting from SAVING money to invest automatically!
Acorns has a VIP offer for you just by signing up through thisandthatmind.com. You can get $10 through my VIP link!
VIP: Get $10 when you sign up for Acorns
The downside about this investment app is that it is limited to certain regions, which you can read about on their page to see if youre included in their list.
Acorns works by investing your spare change once your account reaches $5 into ETFs.
Sounds pretty simple doesn’t it? Give Acorns a try today!