Did you know that you don’t have to be rich or have tons of money to start investing? You don’t need $1,000, $500, or even $100. With micro-investing, you can start investing just a few dollars at a time.
What is micro-investing?
It’s exactly what it sounds like: investing very little at a time! Micro-investing is a much easier, more approachable method of investing for the “average Joe” that has little to no experience with the stock market. Like me! I’m certainly no expert.
Why should I start micro-investing?
Because your pennies really can add up if put to good use! Investing a little is better than investing nothing. A penny saved is a penny earned, right? Micro-investing is a great way to ease into investing and get your feet wet.
Let’s be honest, for a beginner, the stock market is super overwhelming. There’s a million terms you don’t know & it’s so intense. Micro-investing can be essentially hands-off & laid back. There’s no Wolf of Wall Street stuff going on here. (although I’m obsessed with that movie still)
How do I start micro-investing?
You can download the free app Acorns and get started in just a few minutes! You link your card(s) with Acorns, then when you swipe your card they round up your purchases to the next dollar amount and invest that change for you! Automatically! Once your round-ups reach $5, your cash is invested.
Say you spend $5.60 on a latte. Acorns rounds up 40 cents & invests it for you!
On average, users invest $400 a year without even having to do anything. How cool is that?
You also have the option to set up monthly contributions in addition to your round-ups, as low as $5/month. Acorns also has a “Later” account option to set you up investing for your retirement, which only costs $2 a month.
After using Acorns personally, I requested a link to share with my readers. If you sign up through my link, I may make a small commission at no cost to you. (Thank you!) And PS: once you get signed up, there’s an option in the app to refer your friends & family and you can make money too!
How much money can I make micro-investing with Acorns?
Let’s assume you have $35 a month on average in round-ups. Figuring that amount plus an additional $35 reoccurring monthly investment (you can do more or less though!), and a 7% return, after 5 years you’ll have about $5,000! That number becomes $100,000 after 34 years.
You’re not going to retire on $100,000, but micro-investing is absolutely a good way to get your feet wet. It’s addictive to watch your spare change grow into real money!
Do you recommend any other micro-investing related apps?
Of all the apps I’ve tried, Acorns is my favorite. Let me know if you have a different favorite or if you already love Acorns too!
Where can I get FREE stocks?
That’s actually a thing! Did you know that!? I didn’t until a few months ago. You can get one FREE share of big name stocks like Apple or GE just by signing up using my referral link at Robinhood!
Robinhood also has a referral program where you can share your link & give your friends a free stock too! Plus you’ll get an extra free stock for friends that sign up using your link!
To my knowledge, you only get a free stock if you sign up using a referral link like mine, not just if you download the app! Fair warning. If you sign up by clicking that link, we BOTH win 🙂 I’m all for free money!
Start micro investing today! & be sure to get your free stock using my link!