This week I wanted to talk about something really important to me: investing. I started to invest money as soon as I turned 21, pretty much because it matched the fact that I got my second job and so I had spare money to invest. Since that I am still learning what investing means, I decided to start with three basic apps: Stash, Acorns, and Robinhood.
Stash is an app that allows you to invest in ETFs instead of stocks. It is a great app to start investing with because there is less risk. As a matter of fact, ETFs are a group of companies. This means that instead of buying the stock of a unique company, you buy an ETF that contains a certain percentage of stocks per company. This way, if one company loses value on the market, the other companies in the ETF will compensate and your investment will grow. If you want to try it out, click on my link and you will have the first five dollars on me (so basically you would start for free).
Acorns is similar to Stash, the only difference is that you invest your spare change. You choose your profile of investment (a range between conservative and risky) and you connect your bank account. Every time you will make a purchase, it will be rounded up to the whole dollar and later the app will invest the cents needed to round-up. As of for Stash, if you use my link, the first $5 are on me!
Robinhood is a little different. It sort of works like Stash, the only difference is that you invest is stocks this time, and not in ETFs. I would suggest you to use this app only after you are more confident in your investing abilities. If you want to register and deposit a little money in it, use my link and you will receive your first stock for free!
I think that starting to invest at a young age is very important because it will help build your future.
Have a nice weekend!