قالب وردپرس درنا توس
Home / Technology / Want to invest in your incentive check?Here are some apps to help beginners get started

Want to invest in your incentive check?Here are some apps to help beginners get started



Salt Lake City-For most people, 2020 is the year to deal with the devastating effects of the COVID-19 pandemic, including the worst economic crisis since the Great Depression.

Now, as people look forward to the new year, starting this week, the second round of stimulus checks are hitting American bank accounts, making many people wonder how to spend $600 in the best way.

The second type of stimulus is half of the $1,200 received from the first batch of coronavirus relief funds earlier this year, and is well below the $2,000 proposed by Congressional Democrats and Donald Trump in the past few weeks.

So, how to do more with less money? investment.

Investing is just one of the many ways individuals can choose to use this money, although most financial experts have advised citizens to pay bills and high-interest debt before taking any investment wishes seriously.

In the end, this is a personal decision on how to spend money, even if it’s just for yourself. However, if you are a first-time investor looking to put new money into the stock market, it can be daunting.

However, with easy-to-use applications, you can invest directly from your phone. You may not be the next Warren Buffett, but you can achieve financial diversification without having to find a stockbroker or visit Wall Street in New York.

Here are some application-based brokers that can help you get started:

Robin Hood

Available on App Store and Google Play

The creator of the application said that the application was created based on the principle of the same name and that it provides convenient access for anyone who wants to enter the stock market, not just “the rich.”

; Robinhood does not charge trade commissions and can be downloaded for free. Users can pay for Robinhood Gold monthly, which provides more resources.

The app allows users to purchase stocks directly after linking their bank accounts. Robinhood allows users to conduct one-day transactions, but there are certain restrictions; it also depends on what kind of account the user has before the day transaction.

The app recently ran into trouble in the government. According to the Associated Press, Robinhood Financial agreed to pay $65 million this month to settle the Securities and Exchange Commission (Securities and Exchange Commission) allegations that the company failed to disclose all the details of high-speed traders, and did not intend to Customers trading on this platform provide the best prices. .

Want to invest in your incentive check?Here are some apps to help beginners get started
Photo: Associated Press Photo/Patrick Sensen

Acorn

Available on App Store and Google Play

Unlike Robinhood, where you can choose the stocks you want to buy, Acorns will automatically collect change and invest in transactions with daily purchases of more than $5. It was initially downloaded for free, but you must accept a monthly fee to use it. For example, if you buy lunch for $7.85, the app will round up and invest 15 cents. Users choose the level of risk they are willing to take and answer some other questions before the app creates your profile and starts investing.

Want to invest in your incentive check?Here are some apps to help beginners get started
Photo: Acorn

Sophie

Available on the App Store and Google Play

SoFi is free to download and allows users to start buying stocks after setting up a personal profile and linking a bank account. The platform does not charge annual management fees, and users can start investing immediately.

Listed

Available on App Store and Google Play

Public (previously known as Matador) prides itself on being a “social investment app” and can be downloaded for free. It allows users to buy stocks for free. The app not only allows users to buy stocks, but also provides unique features, such as group chats with other users and follow other investors to view the stocks they are interested in. Unlike other apps, this app does not have a trading day policy.

Lauren Bennett

More stories you might be interested in


Source link