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Loose change savings app.

Discussion in 'Living Room' started by Dylan33, 23rd Jul, 2016.

  1. Dylan33

    Dylan33 Well-Known Member

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    i saw a report on some Tv show the other night about an app that is linked to a savings account. The idea is you pay with your credit card and the rounding up amount to the next dollar is automatically transferred to a savings account. You don't miss the small change which is gone to an account you open at your bank. Thought it was a great idea for an account starter for kids or grandkids. Did anyone see it?
    Can anyone help me out with the name of the TV show or the name of the app?
     
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  2. Coota9

    Coota9 Well-Known Member Premium Member

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  3. Dylan33

    Dylan33 Well-Known Member

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    That's the one. Thought it was into a savings account though. I'll still check it out.
    Thanks coota9
     
  4. Dylan33

    Dylan33 Well-Known Member

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  5. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    Thanks Dylan and Coota! Downloading now. Over the past couple of months I had put money into (and then out of) a share trading account twice... I hadn't had the guts to pull the trigger to actually commit to buy any shares.
     
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  6. wombat777

    wombat777 Well-Known Member Premium Member

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    Go on. A bit of research / knowledge combined with patience and discipline and you'll do fine.

    I'm achieving a return of 12.6% across my portfolio of 19 investments ( individual stocks and some ETFs ). I started doing trades @ $2.5k but have more recently been doing $5k and $10k trades. Have not sold anything yet. Might take profits from one stock soon ( not a keeper ).
     
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  7. shimmy

    shimmy Well-Known Member

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    I'm feeling quite the risk taker having just installed the Acorns app and set up my portfolio and recurring amounts :cool: ... micro investing here I come! I'd never heard about it until I read this thread so thanks everyone!... seems like just the ticket for a first time share investor:)
     
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  8. JenW

    JenW Well-Known Member

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    Oooh, I love this kind of thing! Great thread Dylan33 :D
     
  9. markson

    markson Well-Known Member

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    I pay everything on my CBA credit card. Would this work or does it have to a savings account?
     
  10. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I think that's the idea of it... it works with Amex too... but if someone knows better, please feel free to correct me.
     
  11. shimmy

    shimmy Well-Known Member

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    For topping up spending transactions, I have linked it to my credit card account but they don't take the top up cents from your cc account but from another linked savings account that can't have borrowed funds in it. You are able to link as many spending accts to top up with as you like.

    ps - including transaction accts... you are also able to set a recurring deposit of funds eg I set up for now, $5 a week to go into it.
     
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  12. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Great idea
     
  13. larrylarry

    larrylarry Well-Known Member

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    Great idea.