by The Penny Hoarder Staff The holidays get expensive fast. Checking off everyone on your list can be daunting, especially when you consider the impact on your bank account. The average American plans to spend $837 on holiday gifts in 2021, according to Gallup. That’s not much more than people spent in 2020, and continues to be down from pre-pandemic norms. A lot of us are still hurting economically. But
Best for Hands-On InvestorsThe Penny Hoarder rating$5 to start Best for New, Hands-Off InvestorsThe Penny Hoarder’s rating$5 to start by Rachel Christian, CEPF®Senior WriterAcorns and Stash are popular investment apps aimed at beginners.They both offer easy, automated ways to invest small amounts of money into a taxable brokerage account. They also give users access to other financial services, like a bank account and individual retirement accounts (IRAs).But these micro-investing rivals
by Timothy MooreContributorTornado is one of many investment newcomers that seeks to shake up traditional investment practices. Rather than handing your money over to a traditional asset management firm like Fidelity, Vanguard, Goldman Sachs or JPMorgan Chase, Tornado leaves the power of investing in your hands (literally, as it’s all done via your smartphone).Tornado, which was founded as Nvstr in 2015 by two hedge fund industry experts, Bernard George and
Best for Investors with Low Startup FundsThe Penny Hoarder rating$0 to start Best for More Hands-On InvestingThe Penny Hoarder rating$500 to start by Rachel Christian, CEPF®Senior WriterBetterment and Wealthfront are two of the biggest robo-advisors on the market.They helped revolutionize the investing world with ultra-low management fees and access to customized, diversified portfolios that take the guesswork out of investing.Both of these industry giants have expanded into full-service financial companies,
by Carson KohlerStaff Writer My to-do list is color-coded. Blue, for example, indicates a pending draft. There are boxes for check marks, perfect for when a task is completed. OK, so I have some Type A personality in me, but I’m proud of it. I like plans, checklists and being organized. I hate waiting in lines, wasting time and sloppy work. I bite my nails and overthink. If that were
by Timothy MooreContributorLike many recent digital entrants into the banking market, One Finance is not a bank. It’s a financial institution that offers accounts through Coastal Community Bank. In that way, it still carries the assurances of a traditional bank (like FDIC insurance up to $250,000).While One Finance does not have any physical branch locations, banking online is simple via the One mobile app and easy-to-use online platform. One Finance
by Dave Schafer LendingClub is one of the more interesting online banks we’ve reviewed lately. First up — it is an online bank, which means no physical branches, though that’s not necessarily unusual anymore. What makes LendingClub Bank unique is that it’s the first proper mix of fintech and online banking.LendingClub Bank actually started life as Radius Bank in 1987 and transitioned to online-only banking in 2012, closing its brick-and-mortar
by Nicole DowSenior Writer Grocery shopping is a necessary errand — but that doesn’t mean you have to do all the work. Grocery delivery services like Shipt and Instacart and meal subscription boxes bring food straight to your doorstep. The thing is, you’re almost guaranteed to have extra costs tacked onto your order in the form of membership fees, shipping costs, delivery charges or tips. Grocery pickup, on the other
by Timothy MooreContributor Stockpile is an online brokerage account designed for parents who want to give their children a leg up in personal finance. By opening a custodial account for a child or teen, parents can help kids learn the ropes and also invite friends and family to purchase gift cards for stocks as presents at birthdays, holidays, graduations and other special occasions. Stockpile offers both individual and custodial taxable
by Mike BrassfieldSenior WriterAll the financial “experts” will frown and sternly warn you about excessive use of credit cards. And sure, they have a point.You don’t want unpaid credit card balances that hang around month after month, allowing those greedy credit card companies to rip you off with ridiculously high interest rates.However, we’ve got a piece of advice that may seem counterintuitive at first. That is, it’s contrary to what
