This post does contain affiliate links. Any opinion expressed is my own
Years ago, when I wanted to start investing in stocks, I was a bit timid. I mean you hear people talking about investing thousands of dollars. You pull up an account with one of those big trading sites and it says stuff like “fund your account with at least $2500 and get 25 free trades” or something like that. I work part-time outside my home and have 4 kids I don’t have $2500 to just throw into the wind, especially if I don’t know what I’m doing!
My husband educated me a bit, I read a few resources, but still the big sites intimidated me. Then I learned about buying fractional shares. Not all sites give you the ability to buy fractional shares in a company. I mean I don’t have $300 to buy just one share of a company. That’s where Stockpile comes in.
Stockpile allows you to buy fractional or whole shares. It’s user friendly, they have easy to understand resources on the site, and you can start your account with as little as $5. No kidding.
Let’s pretend you want to buy stock in company X well company X’s stock is at $100 a share. Let’s say you only have about $25 to invest right now. You can invest $25 into company X and own 1/4 share of Company X. Now let’s say payday comes around and you have another $25 you want to invest. You an either invest that in a different stock or keep investing in company X ever time you have a few extra dollars until you eventually own a whole share.
That’s what I like about Stockpile, it makes owning stock in companies you actually want, attainable. I started off with a fraction share in 1 stock and over about 2 years time I now own about 10 shares of stock (with 1 share being a combo of fractionals) in 7 different stock. 2 ETFs, Apple, Spotify, DowChemical, and 2 pharmaceutical companies. I only invest anywhere between 10 – $25 a paycheck depending on what I can afford. Some times I might go a month and not invest anything. I love it. I don’t feel pinned down or feel like I have to save so much just to invest it.
Stockpile only charges 99 cents to buy, sell, or trade. a LOT cheaper than some of those other trading sites!
You can even set up custodial account for kids. Gift them Stockpile gift cards for holidays to save for their future!