Everyone wants to grow their money (and most have not tried financial apps), and we’re pretty sure by now you’ve heard the same old tune by many people – invest and invest early.
Well, we all knew that already. But the real challenge is to actually start, isn’t it?
Truth be told, starting your financial journey is like navigating through a thick dense forest – when it gets dark, you have no sense of your surroundings, and it’s hard to find your way out.
Without a personal senpai or financial adviser to guide you through the process, how else can you get started on your investing and insurance journey? Well, here comes our GPS: mobile applications, of course!
From personal finance management to heavy investing, here are seven apps to help you grow your money and more.
For people who want to figure out their risk profile
Before you start investing, you’ll need to do some introspection and figure out your own risk appetite. Unfortunately, that’s easier said than done. Here are some apps that can help!
Robo-advisor Syfe offers a pre-investing assessment on your finances and goals. This service is completely free and you do not need to start investing with them! To add on to this, it’s also regulated by the Monetary Authority of Singapore
If you’re worried about jumping straight into investing and not knowing what to do, Syfe isn’t a bad app to start with.
Another cool app to figure out your risk profile? The app formerly called SquirrelSave. This robo-advisor developed their own risk profiling algorithm that assesses your risk appetite via behavioural analytics.
Everything happens on their free in-app risk profiler. This is is an interactive activity that will help you determine your financial goals and how much risk you should take. Based on the results, it would greatly inform you on how to get started investing.
This app is also regulated by the Monetary Authority of Singapore
For people who want to get their investing feet wet
Now that you’ve figured out a bit more about how much risk you’re willing to take on before investing, here are two popular robo-advisor apps to get you started.
Licensed by the Monetary Authority of Singapore, StashAway is a popular investment app that most people konw. And with no minimum amount required to start, we can see why.
You start off with a basic questionnaire that will aid robo-advisors in crafting a suitable portfolio to suit your investing needs. With no minimum deposit and balance required, you can start earning returns at a projected rate of 1.4% p.a. at any amount you want.
They offer low management fees starting from 0.2%. So if you’re looking to just get a small taste of investing, this is a great app for you to start with.
4. DBS digiPortfolio app
Sometimes all we’re looking for is a safe, reliable, and recognisable name. DBS bank ticks all those boxes for many Singaporeans.
DBS has their own robo-advisor service called DBS digiPortfolio, which grants you access to ready-made exchange-traded funds (ETFs) from Asia and the rest of the world. Investment starts at S/US$1,000 with no fees for top-ups or withdrawals.
You can easily find digiPortfolio on your DBS app under the “Invest” tab.
For those who want to earn some quick and easy cash
Want to earn some “passive income” while playing around on your phone? Here are some apps that let you do just that.
5. Milieu Insight
If investing is just too much work, Milieu Surveys could quite possibly be the easiest to get some quick cash.
An opinion-based insights platform that looks to connect everyday users to brands and organisations, Milieu Surveys operates on a very simple idea: give your opinion for money. You can earn points by giving your opinion on topics that can range from hustle culture to online dating.
Partipost presents a very interesting concept: post on social media and you can make money out of it!
Their app features several campaigns which you can join by promoting the brands and products on your social media. Most campaigns feature heavily on Instagram, requiring you to do either an Instagram post or story to earn money.
Each campaign rewards you differently depending on the number of likes and comments. If you’re active on Instagram, it can be a simple and easy way to earn some quick cash.
For people to manage insurance and earn rewards too
“Managing insurance” sounds about as appealing as “filing your taxes”. That’s why the AMTD PolicyPal Group team put so much thought into creating an app that makes insurance fun and rewarding.
7. AMTD PolicyPal Smart Insurance app
A one-stop digital platform that helps you manage all your insurance policies, the AMTD PolicyPal Smart Insurance app is here to make insurance easy for you.
Upload your insurance policies and check out your coverage in one glance.