The Thinkergirls spoke to Sarah Riegelhuth, Co-founder and Chief Xperience Officer from Wealth Enhancers about microinvesting.
Microinvesting is a cool new way to create a nest egg, you may not necessarily have otherwise.
It’s when you take small amounts of money from your bank account every so often and build up a bank account from that.
The most well-known app is Acorns, which launched in Australia last year.
The app requires you to set up an account and spend your mullah…For example, if you buy a $3.80 coffee, you tap your card, and then the payment rounds up to $4.00 automatically, putting 20c into the fund. Clever huh?
It may not seem like much, but the little cents will add up to the big bucks in no time!
“Microinvesting enables people with low income and low levels of financial literacy to invest,” Sarah said.
It’s such a great way to get started if you are worried about your money situation, or just want to start building up a nice little nest egg.
It’s even ‘Fin Controller’ approved!