Ever thought about investing your money or even just saving money. Well, today I will be bringing to you today a MoneyBox App review.
This is an app many of you may have seen around on the ads if you are in the UK, as its a highly promoted at the moment.
So having come across quite an intriguing ad while watching the ad I thought I needed to look more into it and how it worked.
This review will cover everything you need to know about them. For the next 5 minutes I will be taking you through things like whether of not the app is worth and what they are about
MoneyBox App Review Summary
- Owner: Digital Moneybox Limited
- What Are They?: Finance/Investing App
- Cost: Free (Google Play)
- Verdict: Legit
- Recommended: Yes
What Is It?
The app has reached over 100 thousand installs on Google Play and currently has an average of 4 out of 5 stars.
The app helps you save your money when you shop at your favourite stores. You can then use your saved money to invest in stocks and trades.
Back in 2017 the finance app won The Techies FinTech Innovator Of The Year and has been featured by big companies such as BBC, ITV, Daily Mail, Financial Times, and more.
It presents a great opportunity for people who are new to investing and stocks to get into trading without putting in too much money.
While many might only be discovering the app now the app as in fact been around for a few years since 2016.
It is owned by Digital Moneybox Limited and was co-founded by Ben Stanway and Charlie Mortimer
How Does MoneyBox Work?
How it works is when you go to purchase items from stores your spare change will be put aside ans used to invest.
Let me give you a example
If you were to buy a magazine, random I know, for £4.50 you could round that up to £5 meaning you would be investing £0.50.
There are three main approaches you can choose from each come with different risks.
These consist of the Cautious approach, Balance approach, and the Adventurous approach. With Cautious being the safest option and the adventurous being the riskiest one.
Is MoneyBox Legit?
It’s clear that MoneyBox is a legitimate opportunity but when I say legit I do mean whether or not the app is authorized.
In this case, it is authorized and is controlled by the FCA also known as the Financial Conduct Authority. So you can invest your money knowing that it is safe and you are trading with a regulated platform.
Who Is The MoneyBox App For?
It really depends on the person and while you do need to be over 18 to use it there are options for you to have ISA’s that include Junior ISA’s.
Going back to who MoneyBox is for it does seem like its for everyone, especially I would say those who are new to investing and don’t have much experience.
The way these app works makes it easy to get a taste of it without needing to invest hundreds of pounds as its rounded off change.
How Much Money Can You Make With MoneyBox?
This all depends on how you approach the app, while success in investing, in general, isn’t guaranteed from what I know the amount you can make is quite good.
MoneyBox has provided e.g. of how much you can expect to get back from investing. They started out with £1,000 which was one example back in 2007 that they have shared.
They were getting £50 per in interest which meant that you could get between £8,000 and £12,000 roughly depending on what approach you take (Balance, Cautious or Adventure).
Aspects Of MoneyBox I Like
Easy Way To Invest
MoneyBox and just like the video ad shows is a relatively simple way to invest your spare change.
The app and company have a fresh interface and offer a way for newbies to get involved in risk-free investing.
I am always looking for opportunities to save money and this one that could be worth looking more into.
Choosing Risk Strategy
Another aspect that stands out for and that I like is the risk options.
You have the choice of different risk options you can choose from, so you could go for minimum risk or for maximum profit
Aspects Of MoneyBox I Don’t Like
Isn’t a short term fix or even an opportunity for those looking into stocks and trading to make full-time incomes, its far from that.
What this is is a long term investment where just like a bank you can get money back each money and will accumulate each month after.
Looking back at the example earlier is a clear representation of how much you can get from this.
It showed how you could get between £8,000 and 12’000 within 10 years, obviously, those figures are not always going to be accurate and trades and a stock profit change all the time.
Is MoneyBox Worth It?
All in all, MoneyBox offers a great opportunity for those looking to get into investing and how it works is very simple to understand that anyone would be able to use it.
They are legit and safe so If you are interested feel free to check them out to see if they are an opportunity for you. They are on both the Google Play and IOS app store so you will be able to find them there or by clicking on this link.
Want To Know How I Make Money Each Month?
Investing is a cool way to make money and with an opportunity that I have talked about you can earn a few couple hundred pounds a year which is quite good.
Now let me talk about how I make money online and I would consider it better than investing opportunities out there as not only are the possibilities endless but its actually quite an easy way to make money.
I make money through affiliate marketing but I’m not going to get too much into that here as I’ve created a post that talks you though how it works and how you can get started/benefit.