For the past two months I have been investing $5 a week onto an App on my phone called Stash Invest. Each week it pulls the $5 from my bank account and then I get to decide what fund to invest it in. You can see the history of the fund and how risky each one is and make a decision from there. These are ETFs which are Exchange Traded Funds. An ETF tracks an Index and is traded on the stock market. What is the Stock Market? Review that here!
This is an awesome tool for people that want to invest their money but have no idea how. It is a great way to dip your toe in the world of investing. As well, the only fee is $1 per month. In case you don't know that is extremely cheap for investing.
Why do I Stash?
Honestly I am having fun picking a fund to invest my $5 with each week. It has given me an opportunity to learn more about investing. As well, I am creating a little stockpile of cash on the side that I cannot touch until I trade the funds I am invested in. It is helping me set aside money that I can use in the future for something special.
How do you get started?
Just download the app! You can create an account and it will give you all the necessary information you need to know about the process. From there you can connect a bank account and set it up for weekly deposits or just periodically invest cash when you are ready.