How To Trick Yourself Into Stashing Money
You know how you?re supposed to floss but you just don?t??
You?ll be on a weekend trip with some friends, see one of them floss, and that annoying guilty feeling creeps in…?Why? Because you know better.
Same with investing money.
Why is it that even though we know we need to invest to grow our money, we just don?t do it??Many of us freeze when it comes to complicated financial decisions because, well, they?re complicated.?And most of us don?t have extra money lying around to hand over to a broker or financial advisor and say ?Here, deal with this and make it grow.?
Wouldn?t it be awesome if we could just trick ourselves into stashing away money?
On top of that, what if the money we stashed was invested in an industry that we feel good about??And what if we could do it with as little as $5?? Without us having to do a thing?
Stash is an app that allows you to sneak as little as $5 out of your account into investments in sectors that you believe in.?
$5 impact investing. And you won?t even notice it.
They will even give you $5 to start investing.
Stash mainly offers a selection of Exchange Traded Funds (ETFs) via their platform that users can invest in. ETF?s are a bunch of investments, ?such as stocks and bonds, that are grouped together into a fund. This means that if you want to invest in a certain space like renewable energy, you can invest in a group of renewable energy stocks at the same time instead of just one company. So, you can begin to grow a diversified portfolio with a just few dollars.
You can invest in as many kinds of funds as you want, depending on your interests and passions. Stash offers a curated list of investments and includes sustainable investing options.
When you set up Auto-Stash, you can pick how much you think you won?t miss from your account, even if it?s $5.?You can sneak money – from yourself – and invest it!
Auto-Stash can be allocated to just one of your selected funds, or all of them. It?s up to you. You can stash money out once a month, or even once a week. And you can change the amount any time you want.
Before you know it, you?ll look at your little stash and see that it?s grown. And you won’t even miss the extra cash that you were going to spend on who-knows-what anyway.
This app tricks you into creating good money habits.
Learn While You Earn
You can track your investments while also learning about them on your Stash app.
Another great feature of the Stash app is its in-app educational content called Learn. Learn provides articles customized to your investment profile that help you understand the big picture, a little bit at a time, so your financial knowledge can grow alongside your money.
You won?t be overwhelmed by financial data. You can give yourself a little financial education while you?re waiting in line. If you want.?Or you can just ignore the whole thing and keep sneaking money from yourself and investing it …in yourself. Your choice!
Stash only charges a buck a month for investments under $5,000, and you get the first month free.?So, the next time you get that annoying cringy feeling when friends and family talk about money, maybe it?s a hint to start stashing some away for yourself.
The reality is that no one is going to look out for your financial future any more than they are going to offer to floss your teeth. You have to make that move. Stash is easy and can help you begin to build good investment habits.
Perhaps even easier than flossing. (Believe it or not, there?s an app for that, too)
Tags: impact investing, microinvesting, Money habits, roboadvisors, save money, saving