In the main, most of us never really think about investing on a serious level until later on in our adult life. When we are young, most of us have dreams of making loads of money from being a successful business man/woman, famous footballer or even a movie star. However, times are changing, and investing is one of the most interesting activities around right now that more and more young people are serious about.
In the past investing in stocks and shares got a bad reputation with scandals like Enron (2001) and WorldCom (2002), as well as popular films like The Wolf Of Wall Street. However, today trading in stocks is not necessarily a gamble. Anyone can learn and gain experience using reputable online brokers from their living room. So we highly recommend that it is not something you should just jump straight into and hope for the best.
There’s money at stake, so it is better to learn about how investing works, useful habits to adopt and how to approach certain situations, before you put your funds at risk. This is where mobile apps come into the equation, as many are designed for this purpose to help beginners who are new to the scene.
Acorns is a great app for beginners as it completely takes the hassle out of investing. Users link up their debit card for example and the app will work out the regular incoming and outgoing and what change there is spare. Then it will automatically invest this spare cash on your behalf, with the amounts barely noticeable. This app is great as you can set it up and then just forget about it, allowing it to work its magic without any need for interference.
Having the Bloomberg app installed will allow the user to stay up to date with all the latest financial news, as well as real-time stick tickers. This is very important for beginners as the more information at their disposal and the more up to date they are the better. It will help them to make better judgements regarding investments and reduce the risk of them losing money early into their trading adventure.
Stock Market Simulator
The Stock Market Simulator app is one of the best for people who are new to trading and investing. Users can play the stock market, but with virtual currency rather than risking any of their own funds. This allows them to get a feel for what the stock markets are about and how they act, as well as being able to make mistakes and learn from them with no risk involved. Every user will begin with $10,000 in their account and will have access to the US stock market, but it will update around 20 minutes after the real market. It’s the ideal way to find your feet.
In many ways, the Fidelity Investments app is the natural step up for beginners who are starting to feel more comfortable with investing. Users can track their trading accounts from anywhere on their smartphone and there are some great customisation options too, which make life a hell of a lot easier. It’s an app which is packed full of features and it’s designed to really take the stress out of investing, allowing people to stay up to date on the latest goings on by just taking a quick glance at their smartphone. It’s the ideal companion app for people who would class themselves as a bit more than a beginner.
It’s incredibly important to learn about investing and what it entails before getting started. There are an array of great apps out there designed to give beginners that necessary knowledge, as well as experience, setting them well on their way to success. The fact that people can do all of this on the go makes it a lot more convenient too.