A pair of micro-investment applications have hit the investment universe in the past couple of years. Acorns and Stash Invest are smartphone-based investment apps that enable you to save and […]
Microsavings Reviews - Micro Investing Services for Millennials
Just starting out and having problems saving? Microsavings services are the latest fintech invention that makes saving and investing easy. These microsavings apps set aside your "pocket change." With a little bit saved over time, it eventually adds up to a lot. It might not enable you to buy a new house, but it will get you started down the savings road.
These services mostly target Millennials who use their mobile devices to do their banking and investing.
We differentiate microsavings from robo-advisors in that these services are for small amounts of savings and lack the option of opening a retirement account.
Also, it is worth mentioning some services like Digit are really geared toward short-term savings because you earn no interest. Whereas Acorns and Stash allow you to not only save but micro-invest in the stock market.
The following apps will do what you need, but one might fit your lifestyle better than the others. Read our reviews as you consider your specific situation.