She Strengthens

Start Investing with Just a Few Bucks

As the seasons change, our spending habits often do too. With the arrival of fall, many of us can’t resist the allure of a Pumpkin Spice Latte (PSL). But before you splurge on that festive drink, consider this: you can use the cost of a single PSL to kickstart your investing journey.

Savings Accounts: A Boring but Simple Start

Open a high-interest savings account with banks like Barclays, Discover, or Ally, which offer APYs of 1.2% or higher with no minimum opening deposit or monthly fee. While the interest may not be staggering, it’s a low-risk way to get started.

Take Advantage of Your Employer’s 401K Plan

If your employer offers a 401K plan, contribute a fraction of your salary to get started. Many employers will match or exceed your contribution by a certain percentage. This automated, pre-tax transfer can reduce your taxable income, set you up for a sweet tax credit, and take no brainpower to implement.

Go Solo with an Individual Retirement Arrangement (IRA)

As a freelancer, entrepreneur, or student, you can still start saving for retirement with an IRA. Discount brokers like E*TRADE or TD Ameritrade have no minimum initial deposit requirement, so you can start with just $5. Fund it initially, then continue with direct contributions out of your paycheck.

Make Room in Your Budget for Investing

Apps like Digit can help you set aside small amounts for investing. By analyzing your spending, Digit makes periodic transfers into your account, timed to avoid bill and rent payments. After a few months, you’ll have enough to kick off your investing career.

Invest Your Spare Change

Sign up for Acorns, which invests your spare change into a series of well-picked ETFs. With a minimal account maintenance fee (waived for students!), you can start investing without breaking the bank.

Low-Cost Investment Accounts

Open an account with services like Betterment, a robo-advisor with no minimum balance and no trade fees. Answer a quick survey about your financial goals, and the company takes care of the rest, investing your money into low-cost funds.

Low-Cost Brokerage Accounts

If you prefer a more traditional approach, investment platforms like Robinhood let you trade shares with no fees or commissions. Alternatively, Charles Schwab offers commission-free ETF trades and a debit card with no foreign transaction fees.

With these options, you can start investing with just a few bucks. So, go ahead and treat yourself to that PSL – then use the cost to take the first step towards securing your financial future.