NerdWallet: Yes, you can invest as little as $100: Here are 4 ways to get started

by | Nov 14, 2022 | Stock Market

This article is reprinted by permission from NerdWallet. The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Whether your student loans are being forgiven, you received a gift or earned some extra cash this month, using $100 or less to start your investment journey is possible now more than ever.

Thanks to investment products like fractional shares and exchange-traded funds, or ETFs, you can enter the market for dollars and cents — and quickly build a diverse portfolio with little money. Not to mention the apps that can help you save or invest spare change. So if that extra Benjamin lands in your lap, here’s what you need to know about how to start investing, the financial products that can help you diversify your portfolio for less, and how to make your money work the hardest for you.What to consider before you begin Before you begin investing, be sure you’ve taken care of more immediate financial needs like paying off high-interest debt and building up an emergency or rainy day fund, says Jen Hemphill, an accredited financial counselor in Fairfax, Virginia. If you’ve got that covered, it can feel nerve-racking to consider beginning to put cash in an investment account instead of your savings account. One strategy for overcoming fears about investing is to focus on your goals, according to Hemphill, who also works with clients and provides free bilingual financial education on her podcast “Her Dinero Matters.” Also see: No matter your age, here’s how to tell if your finances are on the right track Hemphill suggests you fi …

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