3 On Your Side: Apps That Can Put More Money In Your Pocket
By Jim Donovan
PHILADELPHIA (CBS) -- Have you ever wanted to start investing but just don't know where to begin?
In today's 3 On Your Side consumer report, some apps that could make it easier to get more money in your pocket.
You don't have to be a financial know-it-all on Wall Street to start investing. You don't even have to have that much money.
Here are three easy ways to get started and they're as easy as downloading an app.
If you follow certain companies and have done your research, Robinhood is an app that lets you easily buy and sell shares for free! You can start with as little or as much money as you want. And it directly links to your bank account so you can always add more.
If you just want to leave your money on autopilot, then consider putting it in Wealthfront. This is like leaving a broker in charge of your money but instead, you're leaving it to a computer algorithm. The app invests based on market trends and your own risk tolerance. Best part, no fees to manage up to $10,000.
If nothing else, consider using Acorns to get started. This app relies on spare change. So as you go about making debit or credit card purchases, the app rounds your spending to the nearest dollar. Then it invests that "extra change" into the market. You don't have to do anything.
Of course before downloading any of these apps make sure you read and carefully understand all of the terms and conditions.
