Investing may seem like an activity that requires being wealthy to engage in, but it turns out that’s not actually the case. You can put as little as $1, $2 or $5 to work for you, earning money through a variety of methods, ranging from buying promising but inexpensive stocks to getting matching funds from an employer and many other methods.
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All you need is $5, a little bit of research and a willingness to take a chance. To help you get started, here are 10 possible ways to invest your money that cost $5 or less.
Last updated: Oct. 13, 2021
The Stash Platform
Digital apps are making investing just a few dollars so much easier and worth your while, said Alan Harder, a mortgage broker and founding partner of the mortgage firm alanharder.ca. He recommends Stash, “A popular smartphone app that enables you to purchase individual stocks or a variety of exchange-traded funds.” You only need to invest $5 and keep a basic account of $1 per month.
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Another resource for people who don’t have a ton of cash to invest is the online investment platform, Robinhood, said Jake Hill, CEO of DebtHammer. “You can invest as little as $1. It has commission-free investing, so users can trade stocks and exchange-traded funds for free.”
Michael Denny, chief investment officer at The Investment Nerd, echoes this, “They make it very easy to put very small amounts of money to work.”
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Mutual funds are a great way to build money over time, said Scott Spivack, marketing director at United Medical Credit. “The best thing about mutual funds is that you can buy fractional shares of a stock, which are cheaper, and available for as little as $1. This is a great way to gain exposure to the stock market and learn key ways to build wealth.”
See: 10 Ways To Diversify Your Portfolio Even If You Don’t Have a Lot of Money
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If you work for a company with a 401(k) matching program, Minesh Patel, CEO of The …….