What's up my friends? I'm Bob i'm back again with another video here on the
Sweet Life money channel today we're talking about my favorite app
the Stash app this is mainly a great app for beginners and that's why i like it
so much for those of you interested in dabbling in the investment world but you
don't want to go all in and potentially risk some money
and you want to take it slow Stash can provide that all
from the comfort of your phone today i'm going to walk you through how to
download the app how to get it set up does the thing work and how does stash
work is it safe and is it legit and then i'm gonna kind of close in and
give you a little bit of my review and how i transformed getting rid of a
cup of starbucks a day to grow my portfolio over two thousand
dollars so stay tuned let's get going on today's
video starbucks the number one type of thing that gets
me spending a lot of money i used to spend
hundreds of dollars on this stuff now i get it from time to time
but honestly this right here usually cost me about seven dollars this
venti latte and if you think about it all you have to do is give up one a week
and then put that into something like stash
and then over time watch your investments grow
sounds kind of simple right let's get to how to actually download this app
so what i'm going to do is i'm going to actually watch my phone right here
and kind of guide you through the process so first thing you want to do is
simply go to the app store and type it the search bar stash very
simply put stash you'll see it pop up it's usually the first or second thing
on the list right there it is it's in purple double click to install that so
here we go once it's downloaded hit the open you'll see it opens up in the app
and what you want to do is just simply click get started
once you do that it'll take you over to one of the first steps which is of
course signing up for the program uh you'll need some
personal information your name your phone number
all that kind of good stuff as well as your email address that's how you'll get
started so simply put in whatever your email
address is and hit the continue button
next up put in whatever safe secure password that you want to choose
when it comes down to stash there is some cost associated with it
the very first thing one dollar a month that is for the investment account
personally that's what i use one dollar a month is what i spend for
stash and it allows you to take advantage of their full platform to
invest in over 1800 etfs and individual stocks
again i'll show you kind of what i'm up to a little bit later in the video
but the most important thing to think about is one dollar a month for the
investing you can then upgrade for three dollars a
month to include the retirement account so if you don't
have a retirement account and you want to
invest in that within stash you can certainly do so for three dollars a
month and then they have a package for nine
dollars a month and of course that uh includes not only the retirement and the
investing but also custodial accounts if you have
children or somebody you want to look after you can assign a custodial account
maybe to save for college or invest for them
and help them out in the future again i only do the one dollar a month i have my
ross ira retirement my normal 401k and all that
stuff in other areas and other companies but if you want to you can go that route
again today is all about the stash app for investing so that is how you
download the app let's go on to the next thing how does it actually work
well i told you about the subscription fees but how does this work
okay when you sign up stash will give you an
option to do an auto stash this is where you can either opt out and say no
i don't want to do that i only want to put in money when i have money available
or you can do what i do like i said earlier take your starbucks take
whatever type of uh money that you're spending
maybe eliminate one expense per week and put it towards stash
so i'm going to pop up my screen right here let's just go through very quickly
how to set up your auto stash so right here at the top you'll see it says
automate investments what you're going to want to do is
touch that and then right here where it says your active strategies
go ahead and click that set schedule what that will do is let you know
as i told you five dollars a week as you see on the screen right now
comes out weekly my next transfer is coming up actually very soon
on august 25th so right now as you can see i actually have five dollars going
into apple there is a reason for that i will go
back to blue chips which you'll see is right below that
i'm going to do apple for the next two weeks
there is a stock split coming on apple in fact you can watch my video on why
i'm doing this right up above but as soon as august 31st says i'm
going back to the blue chips and my five dollars will go into that blue chips
every week again if you want to change that all you
have to do for example on cash to invest if you hit set
it'll pop up how much do you want it's a one penny minimum
all the way up to a ten thousand maximum you got ten thousand a week to invest
power to you my friend power to you but again five dollars or ten dollars twenty
five dollars you can set and you can adjust
however you want you can also add multiple layers so for example if you
want to do 10 a week or 25 dollars a week you don't
have to put all 25 dollars into one etf you can spread it through the wealth of
all the things that you earn so you could say i want five dollars going to
apple i want another five dollars toward the
blue chips i want another five dollars toward
the aggressive mix etf whatever you choose
it's there for you so is stash safe and is stashed legit and that's a very good
question to ask and what you'll see here there is my portfolio so what i
would not do is come to you with a review on
something that's not legit i've been using stash for about a year and a half
now and i will say that uh you know i've
gone through all the uh doubts myself you know is this thing uh gonna work
can i easily transfer money out back to my bank account all that kind of stuff
i have done all that and as you can see my current portfolio
at a very small but very important 2 168 again that is based on the five dollars
a week a few bonuses that they provide as well
as of course the growth of the market so you know you just stay consistent
with it you know anytime that you want to sell
although i don't recommend you sell when things go down that's a very bad
investment strategy but if you sell your stock you
need to go and put that back into your account you
can certainly transfer that back into your bank account
again you know our strategy here on suite life money is to build wealth and
in order to build wealth you put money in and you let it grow i
really recommend that you're out of consumer debt
that you have the wiggle room to put money toward this don't uh you know
don't be in debt and have a bunch of student loans and car debt
and and you're still trying to invest it's kind of a bad
strategy i would recommend pay off your debt first and then you can dab on to
these type of things absolutely i would say it's legit i've
again used it for a year and a half have never had any problems with it
there is a website stash.com as well as of course the app
which is kind of the brainchild of everything in the operation
stash is really meant for those younger people so to speak
that are looking to start out those beginners that want to kind of start out
with investing that's what this is all about now really quick stash
is offering anywhere from five to twenty dollars they run various promotions
based on getting started and signing up i have a special link
listed in the description below you can hop over to stash check it out
and your first deposit will come with a bonus
and again it depends on the time of the year and the season and the promotion
that they're running but check that out and you can see for
yourself what this is all about so for me personally
you know my review is i turned what used to be
a simple five dollars a week into a sustainable
portfolio now i mean again it's small i don't have
tens of thousands of dollars in this particular account but that's okay
this is just a matter of saying you know what here's some couch money here's some
starbucks money i'm gonna throw this toward this app
and over time in the year and a half thanks to the market thanks to some of
the bonuses that stash offers and more your portfolio continues to
rise there are some stinkers in my account
too i dabbled in some etfs and also some
stocks that did take a downturn especially with the 2020 pandemic and
things like that i will link that video up above you can
check out my three biggest losers in the stash app so what
questions do you have about stash comment below let me know i'm here for
you as always i want to help you live your
desired suite life i hope this video was helpful gave you an understanding of how
to download the app and really take advantage of the stash
app if you're really still not quite there if you're still a little
bit on the fence and you're thinking i don't really want to
try the five dollars yet that's okay there is another option you can actually
do what they call paper trading stocks and
that allows you to kind of play and dabble
with whatever you want to use with an app called weeble
i'll link that video up above as well check that out
that video is over on my channel and i kind of take you through this is a no
risk investment basically they give you paper
fun money to invest in the stock market and see
how it trends up or down this is actually a great way to educate
yourself on the investments and on the stock market
without actually putting your hard-earned money toward the particular
thing and then when you're ready to actually invest you can do that with
weeble they do offer you free stocks when you
sign up i'll include the link to weeble in the
description below as well if you found value into this video please give me a
like i certainly appreciate it it helps the video grow and the channel grow
and make sure you subscribe today become part of my sweet life money channel
i have more videos coming to help you in your everyday personal finance success
so thanks again for watching guys have an awesome day and we'll see you next
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