If you really want to get ahead financially, investing is essential. It’s how you make your money work for you rather than you working for your money. And who doesn’t want that?
When it comes to investing though, we hear common two reasons people haven’t started – “I don’t have enough money right now” and “I don’t know anything about the stock market.” Well, I have some great news: You don’t need to be rich or be an expert to make money investing.
Check out these simple ways you can start investing today.
1. Stash – The Simplest Way To Invest In Stocks
If you’re not sure where to start investing, you’re not alone. While it can feel complicated, there is an easy ways to start investing.
A simple (and free) way to start investing is Stash. Stash is a micro-investing app that lets you purchase fractional shares and ETFs – that means you can with whatever spare money you have. The app walks you through your options and provides recommendations based on your interest, goals and risk tolerance meaning you can find the perfect investment option for you today.
Wondering if you have enough money to start? We suggest you make your first $100 deposit as soon as you open your account, but the minimum is just $5.
If you need an incentive to start, Stash is giving all new users a free $5 bonus after you invest your first $5. What more could you want?
2. Masterworks -Did You Know That You Can Invest In Picasso Paintings?
Everybody talks about investing in the stock market, but that’s not the only thing you can invest in. Did you know that you can invest in fine art like Picasso paintings?
According to Artprice, blue-chip art has outperformed the S&P (an index of the 500 biggest companies on the stock exchange) by 180% since 2000.
Masterworks is the first company to democratize the ownership of multi-million dollar, blue-chip paintings — like Picassos, Monets, Warhols, you get the idea — by allowing regular people to buy a share the art.
With Masterworks you can own just a piece of a major painting (because who can afford an entire Picasso?), and a share of the future profits with a minimum $1,000 investment.
Also, admit it, how cool would it be to be able to point to a Monet and say that you own a part of it?
Head over to Masterworks now! There are only limited spots to invest.
3. Robinhood – Invest Like An Expert Without Paying For One
Investing money can be scary, especially for first-timers. There’s so much to learn, plus most financial advisors and firms take a good chunk of your earnings via fees for portfolio management and trade commissions. Who wants to deal with all of that while also putting your money on the line? Not me.
Enter Robinhood, a revolutionary app turning the investment game on its head. This app serves as an online brokerage, but unlike traditional ones, it allows you to trade stocks and exchange-traded funds (ETFs) 100% fee-free.
Download the app for free and then create an account — there’s no minimum deposit required which means you can get started investing right away. And instead of paying a financial advisor to help manage your assets for you, Robinhood gives you the tools you need to manage them yourself within the app, plus educational resources to help you learn along the way.
Robinhood gives you the freedom to invest as little or as much as your comfortable with and saves you money on investment fees, keeping your money yours.
4. Morning Brew – This Is Every Beginner Investor’s Secret Weapon
You can’t become a money whiz over night, but you can become knowledgeable about how to make money investing by reading Morning Brew every day.
More than 1.5 million people read this free newsletter every day to get the latest business and investing news, written with a sprinkle of humor. Unlike traditional business news, Morning Brew delivers information to you in fun and easy recaps that only take five minutes to breeze through.
If you want to learn more and get comfortable before you start investing, subscribe to Morning Brew.
5. Fundrise – Easily Invest In Real Estate With Only $500
Real estate can be an extremely lucrative for investors (I’m talking millions, people). Previously, investing in real estate was something only the rich could afford. But now, thanks to Fundrise, anyone can invest in real estate regardless of how much money they have.
Fundrise is a low-cost digital real estate investment platform. Make a $500 deposit minimum and you’ll get a diversified portfolio with dozens of private real estate projects, hand-picked for your goal, that could see an annual return ranging between 8.7 to 12.4 %.
Your portfolio will be managed by a team of Fundrise real estate professionals and you’ll get ongoing updates about the progress of all of your individual investments.
Fundrise only charges a fee of 0.15% (lower than most traditional investment advisors) on your account balance annually. If you’re not satisfied with Fundrise’s performance within your first 90 days of using the service, your original investment amount will be returned to you, guaranteed. So why not take the chance?
6. Chime – Open A Free Savings Account & Earn Interest Income
What are you going to do with all this extra cash if you don’t have a savings account yet? Consider joining an online-only bank like Chime which offers 100% fee-free banking.
Here’s what makes Chime the perfect savings account for people with money to invest:
- It’s 100% fee-free – open a Chime account now and never get another overdraft fee again
- Automatic savings – automatically round up your transactions to the nearest dollar and get difference added to your savings Account
- Get paid two days early – get paid via direct deposit and you’ll get your paycheck before your coworkers.
Open your free account today and see why Chime is one of the fastest-growing bank accounts in America.
7. The Hustle – Stay Up To Date On The Latest Business News
To invest in stocks you need to know the market; that means you need to have a good understanding of today’s business and technology world. That’s where The Hustle has you covered.
The Hustle is a fun and easy-to-read newsletter (that’s only a five-minute read) used by more than one million people to get the latest and most important business and tech news. When you sign up today with your email, you’ll get the newsletter delivered to your inbox six days a week — Monday through Friday, with a longer special edition on the weekend called The Sunday Story, which does a deep dive into company founders, case studies and interesting trends you should be aware of.
Get inspiration for investments by reading about the latest trends and profitable business sectors as well as access research to help inform your decisions and tips on what your next investment move should be. Joins the millions getting business smart with The Hustle for free.
Bonus. Credible – Consolidate Your Debt To Invest In Yourself
Debt consolidation isn’t as complex as it sounds. All you’re doing is borrowing money at a low-interest rate and using it to pay off high-interest debt. That means your monthly interest repayments go down and there’s only one bill to pay each month. Simple but effective!
If you want to see how much debt consolidation could save you, check out Credible. Credible lets you search all the top online consolidation and refinancing options for free. The best part? It is completely free to use. No gimmicks, no hidden fees.
Get your real pre-qualified rates in two minutes then apply for the loan with the best terms for you directly via Credible.
Credible offers personal loans ranging from $1,000 to $100,000, with APRs starting at 5.95% (with autopay). People with a credit score of 660 or above get much better rates.
Bonus. Acorns – Invest Your Spare Change With Micro Investing
One of the best ways to see your money grow is to invest it. But throwing down a couple hundred dollars towards an investment portfolio (which is what many traditional investment accounts require) is a lot to ask for from any first-time investor, especially if you’re living on a budget. If you want to start investing but aren’t quite ready for a deep dive into the stock market, Acorns can help you inch your way in through micro-investing with your spare change.
Acorns is an app that enables you to invest small amounts of money with every swipe of a linked debit /credit card or payments made through a linked PayPal account. The app will automatically round up every transaction to the nearest dollar and transfer it to your Acorns account. As soon as you save as little as $5, the app will then start using that money to buy fractional shares of stocks and bonds (there are 7,000 available for it choose from) to build you a diverse portfolio based on your investment goals and risk comfort level.
You can also set up recurring daily, weekly and monthly or one-time investment deposits to your Acorns account.
Acorns’ plans only cost $1, $2 and $3 a month.
Feature Image: Twenty20