I’ve recently learned about several downloadable applications for your smartphone that encourages younger people to save for the future.  The process is interesting and very simple.

 

www.acorns.com is one that offers the following convenient features to encourage saving:

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• Automated Investing – Rounding up on purchases to effortlessly invest the change

• Link Unlimited Cards – Link multiple debit or credit cards as you like for Round-ups

• Smart Portfolios – Risk based on portfolios invested into low cost Exchange Trades Funds with reputable companies (Vanguard, Blackrock & others) for growth

• Found Money – Cash back on purchases for deposit from several major name brand stores including:  Apple, Nike, Walmart and Hulu

• Transfer Anytime – Invest or withdraw whenever you want without hassle

• Small Monthly Service Charge – Just $1 per month or free for college students with a valid .edu email address

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Acorn's Motto:  “If you set aside just $5 every couple of days, you would have set aside over $1000 in a year”.

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Share this idea with younger individuals who are starting to work, going to school or looking to build up a cash reserve fund.  Starting good financial habits is the first step in   creating a successful financial plan.