Disclaimer!
I am not a professional. Further research is advised. Let’s continue, shall we?
My Journey Into Investing: Taking the First Step
I recently watched a YouTube video (as usual, 🤣🤣🤣) on how to start investing, which got me thinking. As an Economics student, I remember one of my professors, who taught Financial Institutions and Markets, once said, “Start now, don’t wait when it comes to investing.” His rationale was simple: we’re young, and we can afford to make mistakes in the stock market. We have the flexibility to be as aggressive or eager as we want.
When you’re older, life becomes more complicated. You might have a family, larger bills, or simply prefer to be cautious with your investments so that you can splurge in retirement. His point? Get in early and see how your money can grow over time.
Overcoming the Fear of the Unknown
The problem for me was: I didn’t know how to start. I’m no expert on bonds, stocks, or mutual funds. But just because I wasn’t knowledgeable didn’t mean I couldn’t learn. I had to stop telling myself, "I don’t know enough to participate."
The truth is, no one knows everything about the stock market—not even investment brokers. Stock prices represent the future value of companies, and they fluctuate based on how the economy is doing, benefiting both buyers or sellers.
Discovering Acorns: My First Step Into Investing
So, dear only child, what am I saying? I’m saying that even though I knew very little about stocks, I was curious. I did some research and came across Acorns.
Acorns is an app that invests your money by rounding up your purchases. For instance, if I buy water for $1.50 at Walmart, Acorns rounds it up to $2. I still only pay $1.50, but Acorns saves that extra $0.50. Once your round-ups hit $5, it invests the money in a diverse portfolio, including large-company stocks, real estate, bonds, and emerging markets.
Some of the companies in my portfolio include Jarden Corporation, Alibaba, and U.S. Treasury
Notes. What’s great is that I don’t choose the companies—Acorns handles that for me.
Initial Skepticism and First Investment
So, I downloaded it. The video mentioned how Acorns can automatically deduct $5 weekly from your bank for investment, which I signed up for—but only for a short time (I’m a college student, after all!). I calculated: 5*4 = $20 per month, and 20 *12 = $240 per year.
Eventually, I decided to cancel the $5 automatic withdrawal to manage my finances better. Acorns does charge a subscription fee of $1 per month until you’ve invested $1 million, so keep that in mind.
My First Results & Renewed Interest
I gave the app a try, but by November, I decided to close my account while reviewing and canceling unnecessary subscriptions. When I contacted customer service to close it, I was surprised to find that in six months, my total investment had grown to $38.96.
I know it’s not much, but it’s a start! Seeing that small growth convinced me to reopen my account later that month, and I started investing again.
Ready to Start Your Investment Journey?
So, dear only child, have you started investing yet? If not, don’t worry—there’s always time to start! You can begin investing with Acorns today and even get $5 when you use my invite link:
Final Thoughts
P.S. The song associated with this post is Money by Cardi B. 🎶
Disclaimer
The opinions expressed in this blog post are my own. Please conduct your own research. I am simply sharing my experience, and because I believe in this company, I’ve included an affiliate link. This means if you click the link and decide to invest, I’ll receive a bonus from Acorns.
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