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15 Must-Have Apps For Investors

15 Must-Have Apps For Investors

Today, the whole world is going mobile and fast. The role of mobile technology is increasing and has major impact on people’s day-to-day lives. Now, investors trust on their smart phones and tablets more than their laptops. Because of the increasing usage of mobile technology, app developers are working hard to meet the needs of these investors. There are a lot of great investment apps on the market; here are some worth checking out to stay on top.

1. MarketWatch

    Gather important financial news, global market stories, prices in real time and daily analysis of the market, this free app keep you updated with the stock market news, even when you’re on the go.

    Pros:Quick access to new stories with MarketWatch makes it that much easier to remain up to date with all that you need to know – required for any investor.

    Cons:This app requires to swipe up and down to check out the latest market update, which is spontaneous compared to swiping left and right and usual in other apps.

    2. Forbes Intelligent Investing

      If we talk about some trusted names in the financial world, there are few that can compete with Forbes. With video interviews, panel discussions, investment articles, and features relevant to the market, this is one app you can’t neglect.

      Pros:This app gives a good insight about the world of finance from valued professionals. It’s up to date and current news features and enables the user to save favorite videos and features.

      Cons:This app takes a disappointingly long time to open; with screen freezing issues, some sections are empty. The interviews with top experts in the field aren’t lively but just as you become captivated in an interview, the video freezes.

      3. Bloomberg

        When it comes to up-to-the-minute information on stocks, bonds, commodities, and currencies all over the world, few apps do it better than Bloomberg. Besides trackers for this info, which you can customize as you see fit, the app also offers breaking news and headlines from Bloomberg’s global journalism network. The app presents these features in an easy-to-use, highly eye-pleasing package.

        Pros:Bloomberg provides lots of customization options; Stock summary and Graphs that help investors make an informed decision.

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        Cons:Users with wide portfolios probably need more information than what Bloomberg app provides. User can’t hide news sections that are not relevant.

        4. SigFig

          SigFig stands out for going the extra mile to provide such service that could make it your most trusted adviser. SigFig will give all the information about the hidden fees, overcharges, drifting funds, and other problems that you might use to neglect. SigFig also offers suggestions to optimize your gains.

          Pros:This app gives you the best way to look at your stocks and other investments. Shows everything clearly, in the best format, suggests better investments according to their automatic algorithms.

          Cons:Many other investment apps offer complete services for storing and checking investment data and updating your portfolio; SigFig is no exception.

          5. AnalystRT

            If you’re one that uses analyst ratings as part of your research, check out AnalystRT. This app includes analyst ratings for thousands of stocks and allows you to create a watch-list for stocks that you’re considering to buy.

            Pros:With Analyst Rating Tracker, you can track Buy, Sell, Hold stocks ratings given by research analysts from world’s largest banks and research firms in the palm of your hands.

            Cons:There is no website interface for the data; you cannot access the same info from website.

            6. StockTouch

              This app features a unique view of global stocks and ETFs. You can change the way it categories the stocks between percentage gains, market capitalization, volume, and alphabetical.

              Pros: This app has very attractive, responsive graphical interface that provides a quick view of market trends and charts and summary information.

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              Cons:You can’t monitor ETF’s, mutual funds, or stocks not categorized in the top 100 of their sector.

              7.ChartIQ

                Technical traders would love this app. In this app you can view, bar, line, candlestick or wave charts with various indicators. You can even include trend lines, remarks, rays, sections, and zig zags.

                Pros: all the news, posts and opinions from more than 200,000 users of ST can be viewed at the right of the screen.

                Cons: Some functionality just doesn’t respond

                8. E*TRADE

                  This is exactly an all-in-one app, that not only allows you to get real-time price quotations for almost any stock, ETF, mutual fund, or option, but you can also buy and sell them.

                  Pros: voice recognition, barcode scanning, educational videos, research reports and additional chart features are added in this app.

                  Cons: Once orders executed, there is no functionality available to easily close out positions from the menu.

                  9. Motif

                    Motif Investing helps you in making your investment strategies in a safe environment. The app uses themed portfolios to explain the ups and downs of function markets and gives a valuable learning experience.

                    Pros: Motif does offer investors the opportunity to essentially create their own ETFs.

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                    Cons: Motif doesn’t offer the trading tools and research opportunities of some traditional brokerages

                    10. Personal Capital

                      Personal Capital simplifies procedures by giving you a platform to organize all of your investment information in one suitable place. The app’s greatest deal is its simplicity and effectiveness; it will shorten your broad financial status in into a concise summary.

                      Pros: Personal Capital can be used on your computer, smart phone or tablet. This makes it easy to check or track accounts on the go.

                      Cons: There really isn’t much bad about this app. It’s exceptional for a free tool.

                      11. Stock Twits

                        StockTwits is just like Twitter for traders. Along with the Twitter-style feed, there are some traders who also post charts and videos offeringfree technical analysis. If you’re a short-term broker, this is very useful app to watch and top of all, it’s free.

                        Pros: StockTwits is ideally suitable for those who need a social network to keep them updated in to what other investors are thinking and doing.

                        Cons: Twitter feed doesn’t update often enough, the stream doesn’t automatically update.

                        12. CNBC Real-Time

                          The CNBC Real-Time app gives you free access to real-time stock prices – before, during and after market hours, straight from both the New York Stock Exchange and NASDAQ Marketplace.

                          Pros: In this app, additionally you will receive CNBC breaking news alerts, top news stories & analysis, and access to the latest CNBC business video clips, interviews and market updates.

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                          Cons: The ads in this app are problematic and exhausting. The previous version was reasonably good as the ads used to take a very little space. However the current version has the 10 percent of the content space and ads never disappears.

                          13. Daily Stocks

                            The Daily Stocks app can provide you all the technical updates of the market and is aimed to focus on trends in the marketplace built on some technical analytical techniques. This kind of information is mainly the field of fairly serious traders.

                            Pros: Daily Stocks works great in landscape and portrait mode, but landscape mode shows you a little more information and it’s very easy to use.

                            Cons: There is lack of international markets data information; means that non-US investors will find it somewhat inadequate.

                            14. Yahoo Finance

                              Yahoo Finance app is a complete finance place. It delivers breaking news, related market synopses, lending rates, and other financial news. In this app, there are segments for investing, news & estimation, personal finance, and tools for chasing the market and creating an online portfolio.

                              Pros: Yahoo Finance is complete and has information for every investor, regardless of experience or knowledge.

                              Cons: The data loading issues and the overall usage make it not nearly as user friendly.

                              15. Stock Guru

                                Stock Guru is a robust engine that delivers real time study for nearly 7,000 stocks. You can analyze risk, drive, financial power and a exclusive guru rating that sums up all of the data for those who don’t want to dive into the details.

                                Pros: This is the only hedge fund holding tracking app in the market to view hedge funds.

                                Cons: One downside in this app is that it doesn’t have enough hedge funds in their database.

                                Featured photo credit: Simon Cunningham via lendingmemo.com

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                                Tayyab Babar

                                Tayyab is a PR/Marketing consultant. He writes about work, productivity and tech tips at Lifehack.

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                                Last Updated on March 3, 2021

                                Top 6 Hacks on How To Build Credit Fast

                                Top 6 Hacks on How To Build Credit Fast

                                When done right, credit can open doors and provide a lifestyle that you never imagined possible. Anything from flying around the world in first-class and staying at 5-star hotels entirely for free to starting and scaling businesses. It’s also an area where it can be easy to make mistakes and hard to recover from without the right information. In this article, I will break down how you can build credit fast so you can open doors in your life!

                                When you start to think about improving your credit score, you have to answer three important questions first:

                                1. What are you trying to achieve by having good credit?
                                2. What really is your credit score?
                                3. How is your credit score calculated?

                                What Are Your Credit Goals?

                                Having a high credit score is great, but ultimately, your credit score is a tool in your personal finance arsenal that you can use to open doors. The first question you should ask yourself is “what will a higher credit score do for me?”

                                I work with many clients directly at Freedom Travel Systems to help them fully leverage the power of their credit so they can enjoy free luxury travel and start or grow their business. For my clients and many others, here are a few common goals many credit-savvy individuals have:

                                • Free Travel – getting access to travel rewards cards so you can get tons of free travel and even get first-class flights, hotel suites, and luxury amenities all for free
                                • Start/Grow a Business – getting access to business credit so you can start and grow a business with 0% or low-interest financing that does not impact your personal credit
                                • More Approvals – getting approved for credit cards, auto loans, or mortgages so you improve your lifestyle or build your personal wealth
                                • Better Rates – getting better interest rates on any loans you get will save you tens or hundreds of thousands of dollars over your lifetime

                                What Is Your Credit Score?

                                Your credit score is simply a 3-digit number that tells potential lenders how reliable of a borrower you are. Keep in mind that lenders, such as banks and credit issuers, stay in business by lending. Their goal is to find the people that have the highest probability of paying them back and they assess this primarily through your credit score.

                                What’s important to know is that there are two major scoring models used to create your scores. These scores are your FICO Score and your Vantage Score. More than 90% of lenders rely on your FICO score, so when you are checking your score, you want to make sure you see the actual score that the lenders use. And no, checking your own score does not hurt your credit!

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                                Then enters the 3 main credit bureaus, which are essentially agencies that collect credit information on you. These are Experian, Equifax, and TransUnion. These bureaus then apply a scoring model to the information they have on you and voila, you now have a credit score! Bureaus sometimes have different information on your report, which is why you will see 3 different scores.

                                How Is Your Credit Score Calculated?

                                Next, you need to understand how the credit score is calculated. This will provide a high-level overview, but there is more detail to each of these factors alone.

                                There are 5 main factors in the calculation of your credit score:[1]

                                1. Payment History (35%) – This refers to the amount and percentage of on-time payments you have.
                                2. Utilization (30%) – This is how much revolving credit you use as a percentage of the total revolving credit issued to you. Note that installment loans like auto-loans or mortgages do not count towards this while credit cards do.
                                3. Age of Credit (15%) – This refers to how long your credit history is, primarily your “average age.”
                                4. Credit Mix (10%) – This is how many different types of credit you have. For example, there are credit cards, student loans, auto loans, mortgages, personal loans, and lines of credit.
                                5. New Credit (10%) – This primarily refers to how many inquiries you have for new credit.

                                Top 6 Hacks on How to Build Credit Fast

                                Now that you’ve learned more about your credit score, here are the top 6 tips on how to build credit fast.

                                1. Don’t Close Your Cards

                                Many of us are taught that getting a new credit card is bad and having too many will hurt your score. In fact, the opposite is true. You want to have many positive accounts reporting to your credit report. Logically, this makes sense because having more accounts with more on-time payments shows that you are a more reliable borrower. You just don’t want to open too many accounts too quickly since that can hurt your “new credit” factor.

                                Instead of closing a card, what you should do is simply keep the card open and put a small subscription service on it monthly. Why? Because each time you have an on-time payment, it helps build your payment history, the largest factor of credit.

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                                If you close a card, you are missing on potential on-time payments, age of credit, credit mix, and also lowering the total credit lent to you so your utilization percentage may go up. If you have an annual fee on a card you don’t like, see if there is a “no-fee” version of the card and downgrade it to that card rather than close it.

                                2. Use Autopay to Never Miss a Payment

                                This one is easy to do and easy not to do. Go into your credit card account and set up auto-pay. You can choose to either pay the full amount, the statement balance, or the minimum payment. Personally, I like to set up autopay to pay the minimum payment so that I never get a late payment. Then, I go in and manually pay the statement balance each month by the payment due date.

                                This helps me personally see my spending and have a manual review of my charges while ensuring, not have to pay interest, and still get the benefit of making sure that I never miss a payment if something goes wrong. Think about it, if you were to have a medical or family emergency, the last thing you want to experience on the back end of that is a late payment and a drop in your credit score. So, set up autopay.

                                A pro tip is to update your payment due dates across all bills and accounts to be the same so that you can “time batch” the process and have one time a month where you sit down and handle your payments. You can do this by simply contacting the credit card company or doing it online.

                                3. Get a Credit Limit Increase to Lower Your Utilization

                                One of the factors that get most people into trouble is using too much of their allotted total credit. Their utilization, which is the percentage of revolving credit they use, goes up, and their score tanks. You should aim for less than 30%, and in an ideal world, less than 10%.

                                To help drive this down, call your credit issuer and ask for a credit limit increase. This will help increase the total amount of credit extended to you and drop your utilization. Oftentimes, they will only give it to you when your utilization is fairly decent (less than 50%), so work to pay it down as best as possible before doing this. You should ask if the credit limit increase will give you an inquiry as some banks do a hard inquiry while some do not. If they do a hard inquiry, it is often better to just get a new card altogether or pass.

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                                4. Add Authorized Users to Increase Your Age, Add History, and Decrease Utilization

                                This is one of the best hacks out there as it helps with the 3 biggest factors of improving your credit: payment history, utilization, and age. This concept is also called “credit piggybacking” where someone with great credit history on a card adds an authorized user (AU) to the card. When the AU gets added, the credit history and information from that card are added to the AU’s report!

                                This is extremely helpful for people with young credit because it can drastically increase your age of accounts. It can also help many people with limited payment history or high utilization.

                                Please be aware that anything good or bad on that account you are added to will show up on your report. So, you want to avoid any cards with negative marks or high utilization. That being said, it is a one-way street, so nothing that you do with your credit can impact the primary account holder.

                                This is so valuable that there are companies that sell AU accounts. I always suggest starting with your family and/or personal network first as there are likely people in your network that can help!

                                5. Space Out Your Application Strategy

                                New credit is the smallest factor of credit, but it still matters! If you are looking to build up your credit, you should space out your applications. If you apply for too much credit in a short period, it looks very needy in the eyes of the lenders. For this reason, it is safest to apply for cards slowly over time unless you have really studied more in-depth how this works. A good rule of thumb is once every few months.

                                If you are in the credit game for the hopes of getting tons of credit card points for free travel, which is what I personally take full advantage of, you will want to familiarize yourself with the different bank rules and card promotions to put together the right application strategy. Applying blindly will waste inquiries and leave tons of benefits on the table!

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                                6. Review Your Report for Negatives

                                If you have any negative or “derogatory” marks on your credit report, this will hurt you drastically. They do impact you less as they age, however, you should review your credit report to ensure that everything on your report is 100% accurate and actually yours. Wrong information ends up on credit reports all the time and you will want to take personal responsibility for making sure it is accurate.

                                The “burden of proof” is on the credit bureau to confirm that any information on your report is in fact accurate. If you find inaccuracies, you can dispute that with them, or you could consider getting a credible credit repair company to help you.

                                Final Thoughts

                                There you have it, the top 6 tips on how to build credit fast so you can get closer to reaching your goals. Now that you’ve learned more about how credit score works and how you can improve yours, you’ll hopefully be able to make better financial decisions and achieve your financial goals quicker.

                                More Tips on How to Build Credit Fast

                                Featured photo credit: CardMapr via unsplash.com

                                Reference

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