If you’re part of the Millennial generation, you may be overwhelmed when it comes to thinking about your finances. With tons of investment jargon, acronyms, and advice it can be difficult knowing how to make the first step into the investment world. Just because you’re a newbie investor doesn’t mean you have to fear the stock market or procrastinate saving for retirement! Luckily, there are also loads of financial apps ready to help you
Personal Capital is an app offering loads of features primarily focused on investing and retirement planning. However, the app also includes budgeting features and lets you sync your bank accounts and credit cards, as well as any investments you might have and even your mortgage.
Mint.com is a great app if you are looking for help with your budget for free. Not only does it let you track and review your spending trends from month to month, but Mint also helps you set budgets for different spending categories. In fact, Mint auto-categorises your transactions, making budgeting even easier to do. Mint makes budgeting easy both to get started and to maintain.
Acorns is a web and app-based service that’s becoming very popular with the Millennial crowd. It offers a simple way to save and invest in the stock market by rounding up your spending to the nearest dollar, and then investing that difference. This app is extremely easy to use on your mobile phone. You don’t need to understand complicated investment theories to be successful, and since the amounts of money taken out and invested are tiny, you won’t even know they’re missing from your bank account.
Digit is a micro savings app designed specifically to help Millennials get started in saving. To make transfers all can be access via SMS text. Digit is a great place to place your short-term savings.