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8 popular apps for saving and investing

8 popular apps for saving and investing

Getting your financial life on track may seem challenging. After all, saving money is never easy. However, using apps for money saving is an excellent way to make this task simpler. With popular savings apps and investing apps, you can track expenses, shuffle money in accounts, and handle daily financial tasks with ease. Here are a few popular apps for saving and investing.

Joy
If you frequently find yourself running low on budget, Joy is a valuable savings app. Available for free, this iOS app analyzes your income and expenses and calculates how much you can save every day. Then, if you wish to save that amount, you can transfer it to the Joy savings account, insured by FDIC. Later, when you are ready to use these savings, you can transfer the app’s money back to another account.

Acorns
This is one of the best mobile-based investing apps for beginners. Acorns provides some creative funding options, such as round-ups and recurring transfers, whenever you make purchases using connected cards. With a monthly fee of just $1, this app offers ETFs as well. In addition, it gives you specific investment recommendations based on a survey you fill out while signing up.

Tip Yourself
A free savings app for Android and iOS, Tip Yourself works well for those planning a short-term goal, such as a dream vacation or buying home appliances. Whenever you accomplish a personal feat, such as finishing a project before the deadline, you can transfer money in the digital tip jar as a reward for yourself. Then, once this money accumulates and the goal is reached, you can transfer the sum to your savings account and go on that dream vacation!

Betterment
Betterment is more of a robo-advisor than an investing app. It is suitable for beginners who want hands-on experience in investing. The app assigns you a professionally designed portfolio of low-cost ETFs depending on your investment goals. You can also pick between personalized portfolios and socially responsible portfolios. You will be charged an annual management fee of 0.25% without a minimum balance requirement.

Qapital
This savings app lets you plan for a specific long-term goal like buying a car. It is a rule-based app available for iOS as well as Android. With Qapital, you can set custom rules, such as saving $1 every time you buy a public transit ticket. The app also has a round-up rule that rounds up all transactions and then automatically transfers the difference to an external account.

SoFi
A financial service company, SoFi, provides banking, lending, and investing services through a single app. It is a perfect investing and savings app that offers investment education for beginners. It also lets you start investing through fractional shares or Stock Bits. In addition, you can invest in stocks, cryptocurrencies, and ETFs with this investing app.

Stockpile
This is a seamless investing app, generally for those with some expertise and experience in stocks and shares. The app has a fee of 99 cents for each trade but no monthly charges. The best part about Stockpile is that you can purchase fractional shares. This feature makes it perfect for those who want to invest but do not have enough funds for high-priced stocks.

Invstr
This is one of the most popular apps for money saving and investment. Invstr combines learning with real-life investing. It also has a fantasy stock game, providing hands-on experience for those keen on learning. You can even turn the fantasy stocks into real-life investments by buying fractional as well as whole shares. All of these are commission-free.

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