If you looking to start investing in the stock market, there are many free tools and apps at your disposal to help you get going. In this post, I cover the top 3 investing tools you need as a beginner. I share my favorite apps that you can easily download on your phone to help you get started.
If you are looking to start investing in the stock market, these tools are essential. They provide you with the ability to check in on the stock market, do some research, buy the stocks and funds you desire, and project and plan how much you should make from your investments.
Watch the video where I show you where to get the investing tools and how to use them
I cover how to use these apps more in-depth in this YouTube video below. You can also subscribe to our channel by clicking this link to get free investing education and money tips.
The top 3 investing tools you need as a beginner
Here are the three investing apps I cover:
1. www.finance.yahoo.com – this app is great for creating watch lists and portfolios, as well as looking at the stock market in chart form. See the video for my suggestions about which markets to pay the most attention to.
2. Compound Interest Calculator – this is the free compound interest calculator that I recommend. This calculator is great for running numbers to figure out how much your investments will earn over a set period of time.
3. Any Brokerage Company you choose to work with. I love Vanguard and Fidelity because they make it easy to buy my favorite index funds.
Why investing tools can help you succeed as a beginner
If you plan on investing, you will need to be able to get a feel for how the market is doing and choose funds or stocks that match up to your goals.
With a tool like Yahoo Finance, you can easily pull up a chart of the S&P500 Index and get a quick idea of how the top US companies are doing. You can also use the chart to see if the market is up or down and what the overall trend is for different time periods.
This can help you see the overall market performance. By watching it consistently, you’ll become more adept at weathering movement in the market. You won’t become an emotional investor. Rather, you will stick with your plans of growing your money through long-term investing.
How these investing tools can help you grow your money faster
A tool like the Compound Interest Calculator can help you project how much your money can grow. This can help you as a beginner by giving you an idea of how much you need to put away in order to hit your financial goals.
The brokerage company’s apps make it easy to log in and check your accounts, as well as research funds they offer so you can easily buy and sell funds.
I check these apps at least a few times a week, especially my brokerage app and Yahoo Finance, so I can check the market trends and look at my current funds’ performance. I love using the Compound Interest Calculator to help me reach my money goals faster.
Does it take a lot of time to use these Investment apps?
No, it doesn’t take a lot of time to use these investment apps. In fact, it makes investing so much easier and faster. I login quickly, take a quick look at how my investments are doing, and then log out. If you are just starting out, it can take a little time to familiarize yourself with all of the functions, but if you watch the video I provided above, I cover many of the tools you can use inside of these apps.
My goal is to help you cut out all the difficulty behind investing and to find an easier way. If you become familiar with these apps, you’ll soon see how your confidence will grow with knowing how the market is performing. And you’ll be more inclined to invest because you see that the market generally goes up. This is not a guarantee, but according to an article at Investopedia, over the long term, markets like the S&P500 have an average return of just over 11% per year.
Let us know how these tools help you
I hope this article and video help you get started with investing. I know this education changed my life for the better, and I love sharing what I found out so you can get started easily.
Please like and subscribe if you found this video helpful. And let us know what questions or comments you have below. You can also follow me at www.instagram.com/mandyjgatlin for more money tips and financial education.
Please note that I am not a financial advisor, and I am not giving financial or legal advice. This video and article should be used for educational purposes only.
Leave a Reply
Your email is safe with us.