I don’t know about you, but when I think about investing money, my mind immediately drifts off to middle-aged men in suits, running around, frantically screaming things like, “Buy! Sell!”… And then I fall asleep.
But what if we told you that investing money doesn’t actually have to be boring and tedious?
Not only that, but it’s actually a lot easier than you ever imagined – in fact, you won’t even realise you’re doing it.
It sounds too good to be true, right?
We are seriously impressed right now.
As previously reported by Mamamia, Raiz works by rounding up the cost of your purchases to the nearest dollar.
So, let’s pretend you bought something for $3.50. You’ll actually pay $4, but that 50c difference will go towards an investment chosen on your behalf by a financial expert, who may or may not be a middle-aged man in a suit.
Meanwhile, you literally have to do nothing except sit back and watch your money grow.
It’s kind of like that money tree we always wanted.
Plenty of people in the Mamamia office have been using it, and while the general consensus is that it takes a while for your money to grow – this is micro-investing, after all – it definitely helps you save money, and even earn a little bit extra on the side.
According to Finder, Raiz is classified as a “micro-investment app”, which means you’re probably not going to become Mark Zuckerberg-rich through it, but if you’re tired of eating Two Minute Noodles for a solid week before payday, well, here is your saviour.