September 26, 2021
Tools and Tips for Investing on a Small Budget
Use new apps and micro-investments to save for the future.
Keeping your investment goals in mind to guide your decisions is key. Consider how much of your budget you can contribute to investing and what level of risk you are able to accept for returns on your investment. This will determine the kinds of investments you should choose and how much you should contribute each month. Citizens First Bank offers savings accounts and budgeting advice for people at any stage in their financial journey.
With so many options for mobile investments, you can choose an app specific to your needs. The advantage of micro-investing apps is there are no investment minimums and transaction fees, and the investments made are diverse and therefore safer from losses.
There are many new investment apps to help users budget, save, and personalize portfolios no matter what level of financial experience they have. Some great user-friendly budgeting apps are Acorns and Mint, helpful for tracking spending, saving, and starting small investments. Webull and SoFi Invest are more specific to investing and can help visualize your investment portfolio and review options for long-term savings.
For more information on investing on a small budget, visit your local Citizens First Bank to begin saving. Explore savings and find answers online through our savings page!