So you’re trying to save money for a new dress or maybe a pair of shoes which you saw in the mall recently. But you always find yourself keep spending money and in the end, nothing remains in your bank account. You’ll find this app useful.
First of all, Whatever amount you earn you should always put 10%-20% in your savings. And invest in safe investments like Mutual Funds, Gold, Real Estate and not so safe but if you’re willing to learn the Stock Market is the best option to invest. And yes now almost all the apps allow you to invest in US Stocks that means you can also invest in your favourite companies like Facebook, Google, Microsoft, Amazon & Tesla. (These are my favourite companies I’m mostly into tech)
So we’re gonna see the Spenny app.
What is Spenny?
Spenny is an app that lets you save the round-up amount from your daily online purchases/transactions. Any amount that is debited from your bank account will be rounded up and the remaining amount will be invested into Stock Market or Digital Gold. Suppose I purchased something of Rs. 294 the round-up amount will be Rs. 300. So Rs. 300 – Rs. 294 ( For Purchase ) = Rs. 6 ( The remaining amount ) which means Rs. 6 will be invested in Stocks.
This image will show you how it works,
Who should use it?
If you always find yourself spending money you should use this app. ( More times you spend more money you save ).
If you find it difficult to save money at the start.
If you often spend money online.
If you’re a teenager or an adult you can use this app.
If you’re saving for something. ( Headphones, Shoes, Date, Gift, etc.)
How to register?
You can register with your mobile number.
After that, you’ll have to enter your details, and your bank details.
It will ask you for an OTP for automatically withdrawing money whenever you spend.
It will ask for SMS permission so it can read SMS so it will know when you transact. ( Don’t worry it’s safe )
And vola…!!! You’re done.
24k Digital Gold ( You can invest in Gold means as the price of gold grows the investment money grows with it )
- Low Risk – 5.16 % in 5 years ( ICICI Prudential Liquid Fund )
- Moderate Risk – 10.34% in 5 years ( Aditya Birla Sun Life Balanced Advantage Fund )
- High Risk – 15.75% in 5 years ( Aditya Birla Sun Life Flexi Cap Fund )
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