Investing can be a difficult concept to grasp, as there are so many different assets you can invest in, all requiring special knowledge or analysis in order for you to feel comfortable putting your money into. With technology, it’s easier than ever to start investing any amount of money, even if it’s only a few hundred dollars a month. The majority of us probably wish to learn more about investing, how to make passive money, and how to secure a slice of financial freedom. This guide will seek to provide you with the basic steps for you to get started and learn more about investing on iOS 16.
Here’s our guide on how to learn more about investing on iOS 16 that will allow you to find out more about the basics of financial freedom on your iPhone or iPad:
Purchase or Install Money Management Apps
Image credit: Apple
Pennies
Budgeting has never been simple with Pennies. If you like an easy-going user interface, then you probably won’t look at any other app for your budgeting and money management needs. You can track your spendings, such as seeing how much you’ve spent on entertainment, utilities, and more. What’s great about Pennies is that you can include it in your Lock Screen widgets for an easy way to view your daily expenses, in case you have a strict budget that you track closely. It costs $4.99 on the App Store, which is perhaps the only thing setting it back compared to other money management apps. If the app were a bit cheaper, it’d probably have a monopoly over this category.
Qapital
Qapital is completely free, with over 80,000 positive reviews for a 4.8 star overall rating. For many, Qapital is the entry point for personal finance, money management, and general budgeting, as it seems to be the most popular option for those in North America currently. The app has revolutionary services that allow you to take a more hands-off approach to budgeting. The company claims that it understands how traditional budgeting doesn’t work or isn’t as effective and that it uses machine learning and AI to assist customers with the saving process. Every time you get a paycheck, the app can divide it according to your goals and objectives. It also allows you to invest your money in low-risk stocks so that you can grow your budget instead of having it sit stagnant in a savings account.
Digit
Digit has over 270,000 positive reviews and is a globally-renowned saving application. It combines a great user interface and accessibility with functionality. To get started, all you have to do is set up a direct deposit, add your current outgoing expenses, and then tell the app your saving goals. The app then does the rest from there. It has long-term investing options and a Roth IRA that you can put your money into, so you don’t have to worry about its value depreciating. You can put your money to work to earn some passive income and not worry about dividing your money yourself. This app is also completely free, so we recommend it if you’re a beginner at saving money.
Download Trading Apps
Binance
Binance is the number one option for anyone looking to trade crypto actively. It has a mixture of selections to invest in, such as big-name cryptocurrencies like Bitcoin or Ethereum, to more obscure ones that could be a diamond in the rough. The interface is rather confusing at first due to the application having so many pages, buttons, options, and graphs. Once you get used to it and understand how to deposit, trade, and withdraw, you’ll have no problem. It’s the most reliable crypto exchange out there, with the recent FTX collapse highlighting the need for security and capital. The application is free, and while it has limitations depending on what country you’re in, for the most part, you’ll be able to invest and trade most cryptocurrencies.
TD Ameritrade
On the brink of merging with Charles Schwab, TD Ameritrade is perhaps the biggest digital trading platform for North Americans. It has a bunch of different assets for you to invest in, such as stocks, options, futures, ETFs, and margin trading. We recommend playing around with a play money account first to fully understand the application and how to use it before depositing real cash. You’ll need to pass a test before being able to trade on the platform (this is the case with most trading apps). Having a trading app on your phone can help you learn more about investing on iOS 16 through practical means. You can study theoretical knowledge all you want, but it takes real trades and investments to gain firsthand experience.
Fidelity Investments
Fidelity is another North American trading platform with extremely low-cost trade commissions. This means you can make more profit from every trade compared to other applications. Coincidentally, Fidelity also has another sister application that allows you to manage your money and make long-term investments using your savings, similar to the applications in the section above. With the two connected services, you can take more direct control over your financial situation, save money, make smart investments through machine learning, and make active trades that bolster your investing knowledge.
Get Updated on Market Trends
Finimize
Link aggregators have been around the internet since the early 90s, and those who use them know how useful they can be for collecting information about certain topics. Finimize is a modern app that takes the essence of link aggregators and turns it into a functional service that benefits consumers much more with useful insights and personalized suggestions. You can read analyst insights on certain investment opportunities or macroeconomic analyses, have a daily briefing on the day’s financial news in less than seven minutes, or dive into the thousands of hours of content available on the app. It has a community of over one million investors, meaning you can discuss trades, economics, and market trends with others.
The Economist
The Economist is a renowned publication that seeks to provide users with deep-dive journalism about financial news, trends, economics, and general current events. All these things can affect one’s decisions when it comes to investing, so having instant notifications about some of the biggest events can help you quickly analyze where to put your money. The free version only allows you to read a limited number of articles per month, which can be extremely stifling, especially if you’re an avid reader. Therefore, while we think The Economist is a great tool to learn more about investing on iOS 16, a link aggregator or social media network that compiles links and news from different sources would be better for your wallet.
CNBC: Stock Market & Business
CNBC is a famous trading hub that some either love or they hate. Many internet investing enthusiasts swear against the network/publication, citing insider trading, public stock manipulation, and the politicization of certain topics. Despite these claims, CNBC: Stock Market & Business is undoubtedly one of the leading sources for gaining financial information. The platform has millions of articles on a variety of categories, which helps you form a more educated analysis of certain trends. You can subscribe to the Investing Club, which gives you a more detailed look at Jim Cramer’s investing choices. Even if you don’t agree with them, there’s valuable information that you can learn from it, which in turn helps you learn more about investing on iOS 16.
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