Can spending money make you money? The answer is YES and this is how!
One of the first things that got me interested in investing was when I learned I could invest my spare change and it would lead to large amounts of money over time. This idea had me so intrigued that I needed to try it for myself, so I downloaded an app which did exactly that.
That app was Moka (formerly known as Mylo) and I was really impressed with the features it offered. My goal was to learn how spending money could make me money, so I connected my bank cards and started purchasing.
Moka works by automatically rounding up the everyday purchases you make and then it invests the spare change. I love this model because not everyone can begin investing large amounts of their money, but anyone can start investing their spare change. There is no minimum investment someone needs to make, they don’t have to spend time moving money between accounts, and the best part of all is it happens without you spending hours researching the latest stock news… because who really enjoys that anyway?
Another great feature of the app is that it does the investing for you based on the goals and interests that you have. You might be saving up for a trip, growing an emergency fund, or have another goal, but Moka can help make it happen. The beautiful thing is it is easy, automated saving with fully-managed portfolios which even include socially responsible investing options to make sure your money is supporting something you believe in.
The recent rebrand was an initiative the company took as they begun their expansion outside of Canada and into France, and is now available in both of those countries. Stay tuned to be updated when more countries discover what their services can offer them.
I would highly recommend passive investing with your spare change using the Moka app. To learn more, watch our full video on YouTube, or please click here to sign up and get started investing with $5 free today!