With these apps, you will be able to do pretty much everything you could want to do with saving and investing. We even throw in a few extra apps that make our “5 Best Apps” even better!!!!!
Best Round Up App
Acorns
Acorns allow you to invest your spare change, earn bonus investments, protect what you love and helps you grow your knowledge. Whenever you make a purchase you can round up your purchase to the nearest dollar and save it (for a $3.55 purchase you would be saving 45cents rounding to $4). You can also choose to save more with up to 10 times your rounding amount. Their premium service gives you a 10% investment bonus and access to their IRA, checking, and debit cards.
Best Set Aside Investing App
Digit
Digit’s algorithm looks at your spending habits and will set aside money when you don’t spend it. Say you regularly go to Starbucks(shame on you!!) and on the days you don’t go Digit will set aside the money you did not pay for that latte. If you regularly go out to eat 3 nights a week and you only go two it will set aside the amount you would have spent.
Tip: Make sure to track how much it takes out because sometimes it can be a surprise.
Best Goal Setting App
Qapital
Allows you to choose among 7 ways to save, for example, the 52-week rule($1 this week, $2 next, till it is $52 the last week totaling $1378), weekly($5 a week), guilty pleasure($10 every time you buy ice-cream), etc. You can save for a trip, wedding, emergency fund, or any other goal you might have. Great for helping you save without thinking about it.
Best Trading App
Robinhood
Robinhood allows you to trade stocks, ETFs, and even cryptocurrencies for free. It is an easy service to use for beginners. Robinhood is a great way to get your investing feet wet and you do not have to pay any commissions. Tips: they do use your information (that is why it is free) you must purchase a whole share no partial share purchases, they don’t have automatic dividend reinvestment and they don’t have any retirement planning.
Best Long Term Finance App
M1Finance
They offer most of the same free services as Robinhood but focused on the long term investor. They allow the purchase of fractional shares(not a whole share of stock but just a part of one), they have dividend reinvestment, and even have retirement accounts with no fees.
Tip: If you are day trading look elsewhere they don’t allow same-day buy and selling.
Bonus Apps!!!
Best Analytics App
Webull
If you are interested in advanced trading then this is the app for you. It gives you more information with access to charts, screeners, earnings, and everything that goes along with that. They also are fast so you can do day trading if desired.
Tip: It takes some time to get used to the app because there is a lot of info available
Best Beginner Investor Option App
Fidelity
This is a great app if you want to invest in Fidelity’s broad index funds. The best part is there are no minimums for investment, and you pay nothing in fees to invest in these funds.
Tip: Don’t do any trading on this platform because trades cost $4.95 each, use another.
We hope that helped! Stay tuned for more…
