Welcome back to money talks this is your host Nick Jancev from MONEY TALKS Today we chat about ! How the RAIZ App Can Help You Save Money with Spare Change and Invest in the Financial Market In today’s fast-paced world, saving money can sometimes feel like a daunting task. However, with innovative financial apps emerging, managing your finances has become more accessible. One such app is RAIZ, designed to help users save money effortlessly and invest it in the financial market. In this blog, we will explore how RAIZ works, its business model, and who can benefit from using it. So What is RAIZ? RAIZ, formerly known as Acorns, is a micro-investing platform that allows users to invest their spare change automatically. The app rounds up your everyday purchases to the nearest dollar and invests the difference in a diversified portfolio of ETFs (Exchange-Traded Funds). This approach makes it easy for users to accumulate savings without even noticing it. How Does RAIZ Work? 1. Link Your Accounts: To start using RAIZ, you need to link your bank accounts and debit/credit cards. This connection allows the app to track your spending. 2. Round-Up Feature : Every time you make a purchase, RAIZ will round up the amount to the nearest dollar. For example, if you buy a coffee for $3.50, RAIZ will round it up to $4.00, setting aside the $0.50 for investment. 3. Investment Portfolio: The app offers various investment portfolios tailored to your risk tolerance (conservative, moderate, or aggressive). You can choose one that aligns with your financial goals. 4. Automatic Investments: Once your spare change accumulates to a certain threshold, RAIZ automatically invests it in your chosen portfolio, allowing you to grow your savings over time. 5. Additional Features: RAIZ also offers features like recurring investments, where you can set a specific amount to invest regularly, and the ability to earn bonus investments when you shop with partner brands. How Does the Business Model Work? RAIZ operates on a subscription-based business model. Users pay a monthly fee for using the app, which varies based on the account balance: - $1 per month for balances under $5,000 - 0.25% per year** for balances above $5,000 This fee structure allows RAIZ to maintain its services, provide access to investment opportunities, and manage your portfolio. The app also earns revenue through affiliate partnerships with retailers, offering users bonuses when they shop with these partners. Who Would It Suit? RAIZ is especially suitable for: - New Investors**: If you are new to investing and want to start small, RAIZ provides an easy entry point into the financial market. - Busy Individuals , For those who may not have the time or expertise to manage investments actively, RAIZ’s automated approach is perfect. - Budget-Conscious Savers: If you struggle to save money, the round-up feature allows you to save without much effort, making it an ideal solution for anyone looking to set aside a little extra cash. - Young Adults: Millennials and Gen Z individuals, who often have limited financial knowledge, can benefit from RAIZ’s user-friendly interface and educational resources. Friends, Saving Pals let’s do a summary on RAIZ ! It is a convenient and effective app that helps users save money effortlessly by utilising their spare change and investing it into the financial market. With its subscription-based model and user-friendly features, it caters to a wide range of individuals looking to enhance their financial well-being. Whether you’re a new investor or someone who finds it challenging to save, RAIZ can help you achieve your financial goals with minimal effort. Start your journey towards smarter saving and investing today! Hope you have enjoyed the podcast See you on the next episode  Don’t forget to subscribe, like and refer us to your friends . We all need some help in creating money habits .  Let’s be more and do more ?!  Disclaimer: