Micro Investment Apps: How to Get Started with Small Investments

Investments are nothing but savings with a facelift!

And savings are important to build your wealth.

Ergo, investments are important to build your wealth.

This is a fact. It is fixed. The variable here is only one thing – your ability to invest. When you are just starting out, it can be difficult to save a lot of money to invest. This is where your friendly neighborhood micro investing app comes into the picture!

A micro investing app allows users to start investing small amounts in a user-friendly, hassle-free manner. If you are micro investing using an app (a popular and well-reputed one!), then your investments can be completely automated, which means a few taps on your mobile screen are all it takes to start building your wealth.

Here are some ways in which apps that allow micro investing can help you build your wealth (and effectively secure your future!) – 

1. By Starting Small – Micro means extremely small. And micro investing stays true to that definition of micro! Once you have picked the right micro investing app for yourself you can start investing teeny tiny amounts of money. Deciml, for instance, allows you to start micro investing with just ₹1! This takes away the pressure of having to save money first and only then being able to invest it – erm, it also eliminates not having enough saved up as a viable excuse to not invest! When you are investing super small amounts of money, keep in mind that you need patience to let these small investments add up to bigger amounts – but no amount is too small to help fluff up your investment fund.

1. By Cultivating Regularity – Routine and regularity are important catalysts of micro investing. The typical micro investing app will give you the option to automate your investments through a daily, weekly, or monthly mandate. Think of micro investing as a habit-building tool. It allows you to invest regularly, making investing a part of your monthly (and eventually yearly) budgets. Remember, a little bit every day goes a long way! For example, the Deciml micro investing app allows users to invest as little as ₹10 daily, through its Daily Deposit feature. So even if you put investing out of your mind (erm… which we do not recommend!), a minimum of ₹10 per day will ensure you are investing at least ₹300 per month – and that’s a good place to start!

1. By Setting Goals – A football field without a goal is just a bunch of people running around chasing a ball. Micro investing, or investing at large actually, is a little bit like that. Without a specific goal in mind, it can become difficult to stay motivated/stay invested. Look, micro investing is only step one in your investment journey – so start by setting goals that you can meet in the short term (like a shopping spree or an anniversary gift for your parents!). As you start meeting your short-term goals, you will automatically feel motivated to set bigger goals and invest to hit those targets!

1. By Educating Users – Your micro investing app should be your go-to source for all information! So make sure that the app you pick offers investors some information about various investment options, and even about investing in general. For instance, the Wise Up feature of Deciml is a trove of insights on investing, personal finance, and the fintech industry – these are jargon-free articles with verified information and cues on how to invest! Find a micro investing app that looks beyond just FAQs and covers a wider scope of topics for you to peruse and learn about that can help you plan and build your financial portfolio.

1. By Monitoring Investments – Hindsight is always 20/20 – and because of this, you can learn a lot by tracking your past investments. It can help you determine how your investments are faring, how much they will grow over a period of time, and what you need to change about your investment strategy. So opt for a micro investing app that offers some scope to monitor your investments. Deciml, for instance, uses Sprint (a dial on your Deciml App home screen) that shows you how much your investments are projected to grow over the years, given your current investing efforts. Any feature to monitor investments becomes particularly important when micro investing – as it is extremely motivating to see your micro investments bringing in promising returns.

In conclusion, micro investing apps are extremely useful platforms for young investors and the right one can help you kick-start your financial growth and well-being.