There are dozens of finance tools to help young people manage their finances. Sometimes, there seems to be too many! You can invest through Stockpile with as little as $5.00, but if you want to create generational wealth through the stock market, it would be a good idea to learn the best habits for saving money, creating budgets, and allocating a portion of your income to investing in the stock market.
Once you have money, you need to learn how to spend it wisely.
Top Finance Tools
A great tool for budgeting and watching finances is YNAB or youneedabudget.com. YNAB takes the complicated task of managing finances and turns it into a friendly and fun way to keep track of your spending and saving. You can directly hook up your bank accounts, learn from their knowledge base, and set your budget. It will hold you accountable and help you get on track.
Nerdwallet is a popular blog about finance. They have a sizable portion of their blog dedicated to educating people about how to best invest in the stock market. This stock market basics post will give you an idea of their style.
The Intelligent Investor
This is a timeless book, initially published in 1949. It has since been revised, but the advice in this book has educated millions of people, making it one of the influential stock market investing books ever published. You can buy it here.
Think of Investopedia as an encyclopedia for investing. It is guaranteed that you will come across many terms that you don’t know in your journey of stock trading. Investopedia is one of the top sources when it comes to providing knowledge for people looking to learn about investing concepts.
Stock Market Simulator
Investopedia’s stock market simulator is an excellent tool among finance tools for investors who want to simulate investing more substantial amounts in the stock market without taking any risk. You’re given $100,000 in virtual cash to deploy how you wish. Build a diversified portfolio, understand what the market reacts to, and prepare yourself to start investing higher amounts in the future.
Founded in 2008, according to their website, “StockTwits® is a financial communications platform for the financial and investing community.” Think of it as a social network for stock trading. You’re able to track portfolios here, follow successful stock traders, and meet other people who are investing in the stock market, just like you! Check it out here.
An essential tool for investing is a tool that allows you to invest in the stock market! Stockpile enable you to invest $5 and up into your favorite company, or one that you think will be the next Google. It’s never been easier to invest in the stock market than now with finance tools. Get started here.
A Little Motivation
Although the stock market generally goes up over time, some down days can be hard to handle. When you’re stocks are all in the red, and you’re just having a bad day, press the You Can Do It Button three times and you’ll instantly feel better.
Keep in mind that every day won’t be perfect, but if you stick with it, educate yourself, and invest wisely, you’ll be able to build wealth through the stock market with these tools helping you along the way. Good luck on your path to stock market dominance!