Tuesday Tip Jar: Robinhood Investment App

Welcome to another “Tuesday Tip Jar” where I will share awesome savings and financial tips as I find them. I might not have something for you every Tuesday, but when I do, you’ll find it here!

Starting Credit Card Debt (01.01.19): $126,310.77
Current Credit Card Debt: $109,070.87
Total Paid Off: $17,239.90
Income Going to Savings: 2%

When people ask me what two skills on this planet I am probably the worst at, my answer is as follows:

  1. Investing Money
  2. Archery

So I figure it only makes sense that my favorite app for investing money is one named after a fabled deadeye archer, Robin Hood.

I had used a different investing app last year, but found it to be just okay because it only let me invest in fractions of stocks, and because it charged a monthly fee.

I’ve been using Robinhood for 3 months now, and it solves both of those problems. The app is 100% free as far as I can tell (I have yet to be charged any fee 3 months in), and it lets you buy as many shares of stocks as you’d like.

It also has the option for scheduled auto deductions from your account of choice, and it displays advice from the pros on whether a stock is worth buying, holding or selling.

On top of everything else, the app has a really nice little news feature where it gives you little news updates on any stock you might be following.

Finally, I can tell you that it also allows you to do junk with Cryptocurrency, but I don’t have a clue about any of that. Let the young punks with their skateboards and their rock music figure that junk out.

Visit the Robin Hood Website for all of the details.

I still don’t know squat about stocks, but I can tell you that before I got Robinhood I knew exactly jack squat, so at least I’ve dropped the jack. I call that progress.

As with anything, do your own research before you start chucking money at it. I’m only speaking from my personal experience, which has been great so far. If you feel otherwise, let me know in the comments below!

Good luck, and keep digging!

______________________

Disclaimer: I’m not affiliated with any of the products/services/tips I share on this site unless explicitly called out in the post. Please do your research and make sure these tips make sense for your particular situation.

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