It may sound too good to be true, but apps that can make you money do, in fact, exist. There are apps that help you make money by selling things and apps that help you make money by filling out surveys. But the types of money-making apps that should be on all our radars are the ones that help us adult better, too. Enter, investment apps.
If learning to invest seems intimidating, well, that’s precisely why you need to know about some of the apps out there that practically do the heavy lifting for you. Or maybe you’ve already begun dabbling in investing, so you aren’t a total beginner — there are apps for that as well.
Bottom line? Downloading a few of these money-minded investment apps may literally improve your bottom line.
Founded by former Stanford roomies Vlad Tenev and Baiju Bhatt, Robinhood distinguishes itself from the pack by offering a commission-free way to buy and sell stocks, bonds, options, cryptocurrencies and exchange-traded funds (ETFs). This app assumes you have a baseline idea of what you want to invest in, so it doesn’t offer much in the way of educational resources. But if you’re already somewhat familiar with investing, Robinhood could be the right choice for you.
Raise your hand if you love the idea of investing but never seem to be able to set aside any money to invest? Us, too. So, trust us when we say Acorns is your investing soulmate. Once linked to your debit and/or credit card accounts, this clever app will “round up” purchases to the next dollar. That “change”? Acorns invests it in a portfolio of BlackRock and Vanguard exchange-traded funds (ETFS). Easy peasy lemon squeezy.
Calling all newbies! Stash is a great way to get your foot into the investing door. Not only does it have educational content to help you learn the ins and outs, but it also offers a Stash Coach feature to further your understanding of your investing. Stash offers hundreds of ETFs for you to invest in, so you can choose a company (or companies) you believe in.
Sometimes, just looking at the cost of popular stocks is enough to put you off the idea of investing. Like, Amazon is $1,000 per share! Therein lies the genius of Stockpile. With this app, you can buy fractional shares — so, instead of buying an entire share, you can invest any amount you want — into 1,000+ stocks and ETFs. It’s free to sign up, 99 cents per trade, there are no monthly fees or minimums — there’s really no reason not to give it a shot. It’s even family-friendly, with options for kids and teens to track their stocks 24/7 and place trades with your approval.
Much like Acorns, Clink is the kind of app that makes it easy for new investors to make money without having to put much thought into it. All you have to do is open an account, link your bank account, and you’re on the right track. Clink operates on a “set it and forget it” approach, where a fixed percentage of recreational expenses is set aside from credit card transactions. Unlike traditional banks, there are no transaction fees to worry about.
6. TD Ameritrade Mobile
If you’re the type who loves research (oh, me, me!), the TD Ameritrade mobile app might be the right fit. It boasts a metric ton of research and data on everything from stocks and bonds to markets and companies, with educational videos to boot. Plus, since TD Ameritrade is one of the most well-known brokerage firms in the country, you’re automatically getting that brand equity.
There’s admittedly a bit of a trade-off where Wealthfront is concerned. This robo-advisor builds you a diversified portfolio of low-cost index funds that contains six to eight ETFs from a catalog spanning 11 different asset classes. You’ll only pay a .25 percent advisory fee on what you invest, and Wealthfront will even implement strategies to reduce the taxes you pay. The trade-off? To open a brokerage account with Wealthfront, you’ll have to kick in at least $500.
8. E*TRADE Mobile
With E*TRADE enjoying a reputation as the app that pretty much started mobile trading, this award-winning app might make you feel more comfortable about investing your money. If you’re comfortable with starting with a larger sum, that is — you’ll need a $5,000 minimum balance. But if you want options, you can’t ask for much more than E*TRADE. Here, you’ll get access to thousands of stocks, ETFs, mutual funds and options (including two, three and four-legged spreads).