Apps to help you to Save and Invest

investment tips

Saving and, later, investing your cash is a good habit to get into. There are lots of ways to make it easier to do so. One of the most effective is using apps. We all have our smartphones easily to hand. So, it is really easy to use these apps to improve your money management.

A great app for investors

Saving for the future is of vital importance. So, opening a savings account is essential. The sooner you do it the better. In time, you will be in a position to take some of that cash and invest it. Doing so opens up the opportunity to make the money you have to work harder for you.

This investment app is particularly interesting because it enables ordinary people to start a General Investment Account (GIA) with very little money. Many other investment firms still require their investors to have tens of thousands to invest. This one does not.

They also enable you to choose between low and high-risk forms of investment. At the time of writing this article, they were regulated by the Financial Conduct Authority (FCA).

Seek independent financial advice before investing your cash

It is important to understand that investment firms are not financial advisors. If you are new to the world of investment, it is wise to speak to a properly registered, regulated and independent financial advisor before actually investing. You need to understand the risks and know your rights, something you cannot do properly using an app.

Apps that help you to save on what you buy

The more money you save on everyday essentials the more money you can save or invest. So, you should have at least a few apps on your phone that help you to do this. Here are just a few suggestions:

Supermarket cash back app Shopmium

On average, British families spend around £4,753 on food, every year. That’s a lot of money. So, anything you can do to reduce that bill will really help.

Shopmium shows you special offers that are available in your area. While the mySupermarket app enables you to compare the price of each item. If you live near several chain supermarket branches and do not mind visiting more than one shop you can save a huge amount by using it.

Digital banking apps

If you rarely go into a bank branch, you might want to consider using a purely digital bank instead. Typically, their charges are lower and they offer you built in budgeting features. But, before you sign up do a bit of research to make sure that you sign up with one that means your cash will be held securely.

Apps that enable you to keep track of what you are spending

Stopping yourself from spending too much is essential. So, it is worth downloading and using a budgeting app like Curve.

Or better still something like Mint that enables you to track all of your bank accounts and credit cards. It has some really good budget tracking tools built in that you can use to stop you from overspending.

The above, is just a taste of what is available. Your friends and family will be able to recommend others.

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