Micro-investing is the latest trend amongst millennials who are discovering new ways of saving money while getting involved in the stock market. Investing is no longer the preserve of wealthy middle-aged business people – now anybody with a smartphone and a bank account can buy and trade stocks with the rest of the Wall Street elite.

With the rise of online banking and banking apps, more and more young people are getting used to doing their finances on their phones. Combine this with new open-banking protocols that allow developers to connect apps directly to bank accounts from anywhere in the world, and you have the perfect recipe for mobile investment apps. These apps allow users to sign up, link their bank account, and begin investing in assets all in a matter of minutes.

What is Micro-investing?
Micro-investing is exactly as the name suggests – investing tiny amounts of money into some kind of asset, including stocks, bonds, commodities like gold, or even cryptocurrencies.

Unlike in the past when investors needed thousands of dollars just to get started and an expensive broker to manage their trades, nowadays anybody with a few dollars can get their piece of the pie.

The great thing about micro-investing is that you don’t need any special skills or knowledge to get started – anybody can do it! If you’re tech-savvy and financially minded, you probably already use a micro investing app in Australia, but you may not know about all the various micro-investment strategies. Read on to find out how you can maximize your micro-investing portfolio with a variety of strategies.

Micro-investing Strategies
There are several ways that you can get involved in micro-investing in Australia. No matter how much or how little you want to invest, there’s a strategy to fit your needs.

Dollar-cost Averaging
One of the most common micro-investing strategies is dollar-cost averaging (DCA), where you invest a set amount on a monthly or weekly basis, regardless of market conditions.

There are several micro-investment apps on which you can set up a direct debit that invests a portion of your income into an index fund or basket of assets each month.

Rounds-ups
Round-ups are an excellent way of micro-investing without even knowing you’re doing it. The method is simple: each time you buy something using a payment card that’s linked to your micro-investment app, it rounds up your purchase to the nearest dollar and invests the extra cents into your portfolio. This can be as little as 1 or 2 cents at a time, but it all adds up to a decent amount of money over time.

Top-Ups
Micro-investing your small change is a great way to save money without doing anything, but it won’t be enough for retirement. If you’re only using the round-ups feature of a micro-investment app, you should combine this with top ups. As the name suggests, top-ups simply mean adding money to your investment portfolio when you can afford it.

The best part about investments is the interest they accrue, so the more money you have invested, the more savings you get in the long run. Topping up an extra $100 or so each month will make a massive difference to your returns in ten or twenty years.

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In Conclusion
As you can see, there is more than one way to use a micro-investing app in Australia. There are good arguments to support all the different kinds of investment strategies, but if you can use a combination of some or all of these micro-investment strategies, you’ll be ready to retire in no time!

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