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Money and Finance Because you have to save money to spend it on new paintball stuff!

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Old 10-06-2017, 10:18 AM   #1 (permalink)
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Acorns.com - Mini investing

Here's a simple app I started earlier this year just as a why not to test it out. I invest over at Fidelity Investments

I highly recommend them. I use Fidelity for my IRA, regular savings, mutual funds, etc. I consider that thoughtful investing.

I tend to think of these "robo investors" as mindless investing.

Your supposed to pay yourself first. Money comes out of your paycheck and goes directly into certain savings buckets first. One for retirement, maybe one for saving for a house, saving for school, car... etc.

Then the rest you budget and pay your bills and pay for fun.

I try to tap into the fun side and find money I waste (large dunkin donuts coffee: $2.40) you know, **** like that. I know I could be doing better. So if I make it mindless and just happens, I find that I tend to work around it, not fight it.

Acorns.com turned out to be a neat answer to this.

Links to sign up there or download the app are there.

They allow mindless investing in two ways. You can take XX amount out of your bank account weekly or monthly. I chose weekly. I started at a simple $10 a week.

The other thing they have is called "round ups". So you attach a credit card and if you spend say $12.50 at walmart, they will take the next $0.50 and invest it once those round ups hit $5 in total.

Mindless. $10? That's 4 to 5 coffees a week depending on what and where you buy that. Or maybe a snack at a convenience store. Or just eating out once at McDonalds. The point it, that is easily done.

I've since Upgraded it to $30 a week after living with it for a while. This has been my performance so far in the last 6 months of doing it.

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Now what am I going to do with my mindless savings? No idea yet. But I guarantee you that it's money I would have found a thing to spend it on. Now my goal is to not spend it on anything mindless. Maybe towards a vacation trip somewhere?

I guess the point is if you can find ways to stop wasting money on items that don't truly give you happiness, you will be surprised how much you can save without even thinking.
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Old 10-06-2017, 11:40 AM   #2 (permalink)
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Buddy did the round up method and saved almost $1000. I want to say it was over six months but might have been longer. He took that money and started stocks I think. Way ahead of the curve for low 20s because of it.
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