If persuading millennials to invest is difficult, convincing Generation Z to save seems a daunting task. While there are some apps that smartly encourage the new generation to spend wisely and save for a better future, INDmoney with its latest Mini Save feature has a slightly different approach. Rather than discouraging users from spending, it encourages users to automatically save a little each time they spend.
With the aim of meeting the needs of long-term investors, Mini Save allows users to save change surplus and invest it in US stocks. INDmoney keeps track of the user’s daily expenses, rounds them to the nearest 10 and automatically saves the amount into a virtual bowl. When the bet reaches INR 1,000, it is automatically invested in US stocks or ETFs selected by the user. One can choose from more than 5000 US stocks (such as Apple, Google, Amazon, Tesla, etc.) and ETFs. Moreover, users can sell or redeem this US stock at any time, although it is advised to hold it for a while to reap the benefits. For example – A daily investment of only Rs 100 in Amazon for 10 years has become more than Rs. 21.48 lakhs*.
The team has taken cues from behavioral economics and has kept the whole issue of savings flexible and tailored to the new, reckless generation that wants to buy ‘guilt-free’ products without compromising the idea of saving. “With Mini Save, our idea is to make the entire saving and investing process easy by making it 100% automated. We want to empower these users to realize their potential long-term wealth by saving a little bit every day,” said Dhinesh Potnuru – Vice President, Product Management, INDmoney, “One can reduce the financial hardship of investing a large portion of money in one go by investing automatically with Mini Save.”
With the aim of upgrading your investment game, this unique feature of the INDmoney app encourages a cutting edge method of saving and investing. INDmoney, with its user base of over 6 million users, has emerged as a top candidate when it comes to investing in US stocks from India.
Check out the app now:
* (Past performance is not indicative of future returns.)
Quoted securities are examples and should not be considered advice or recommendation. The above logos are the property of the respective trademark holders and by displaying them, INDmoney has no right, title or interest over them. Please note that US Stocks are not Indian Exchange Traded Funds and Finzoomers Services Private Limited is acting as the facilitator for this product. All disputes relating to transaction facilitation services will not be able to access the Investor Compensation Forum or Arbitration Mechanism in India “Apply/Visit Terms and Conditions www.indmoney.com
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Originally published at San Jose News Bulletin
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