Almost everyone carries a smartphone, but does everyone maximise the potential to earn money from carrying the small device that sits inside our pocket?
As technology advances and app features update, it’s no wonder people are turning to their smartphone to make money. From money-saving apps to investment opportunities and the extensive amount of information at your fingertips, all available through one swift touch.
We’ve put together some relatively straightforward options on how you can use your smartphone to help you invest your money. So, whether you’re looking to save some hard-earned capital, or you have some spare cash lying around, take the time to learn how you could invest your money and make returns for years to come.
It’s no secret that there is a multitude of investment apps on offer, some for the more experienced investors and some for those who are just starting out.
From apps for automatic savings with round-up features (so no need to curb those excessive spending habits) to free investment trades, as well as automatic investing, to enhance, or kickstart your portfolio – there’s an investment app suited to you.
Our top smartphone investment apps include:
Dip your toes into investing with this app used to add money to your savings. Moneybox allows you to round up your spare change from any purchases you make but goes one step further than other savings apps and invests it for you. This app automatically puts your leftover pennies into a stocks and shares ISA, and all you have to do is link a debit or credit card. Ease yourself into investing with this much-loved money app and get started by choosing from three options. For beginners, use the cautious option, for those who have some knowledge of investing, use the balances, and for the savvy investors, go for the adventurous option.
Moneybox gives you the opportunity to spread your capital across as many companies as you would like and invest as little or as much as you would like too. You can also plan for the future with Moneybox by transferring any previous pension pots you may have and putting them all in one place to add to for your retirement.
For those who prefer more of a challenge or have experience in the investment world, you may want to check out Robinhood. With this app, you can trade stocks and funds as well as other financial products all from a few swift clicks. People favour this app as there are no commission fees on independently run accounts, and it’s extremely user-friendly. Start investing with as little as $1 and choose from thousands of stocks, ETFs, and the increasingly popular cryptocurrency.
Finally, we come to Betterment, which offers a combination of savings and investing. Use this app to create personal goals such as buying a home, paying for tuition fees, or saving for a wedding. Track and make deposits directly on the app and personalise an investment plan that works for you. Make your financial goals real with Betterment and start making better spending choices, saving habits and investment opportunities.
The app technology not only helps to manage your money but provides guidance to make smarter decisions. Suppose you’re looking for a reliable investment account, especially for long-term investments. In that case, you may struggle to find a better app, but be mindful that Betterment charges a 25% annual fee to use its services. Focus on those investments, plan to set up an automatic monthly deposit, and leave the app to do the rest for you. You’ll be amazed how much money you can make over time.
Tip: for those focusing on becoming a homeowner or those who want to get involved with real estate investment, you can put your property back to work for you through renting it out and making passive income. Having more than one form of income can be handy, so it’s best to consider all investment options. Property experts RWinvest have some useful guides available on their website to help you get started.