I review lots of investing apps, and the best way to review them is to actually use them. I used two Australian Micro-Investing apps over the past year; Spaceship Voyager and Raiz.
I wrote a post on how each performed during the last financial year. The results were quite surprising. If you’re still on the fence when it comes to micro-investing then this post might change your mind.
Check it out: Spaceship vs Raiz.
Spaceship ended up outperforming my expectations. It managed a 30% return - even with the massive downturn caused by Coronavirus. Raiz also performed well. The return was much less, but it was still a reliable investment during these turbulent times.
End of year Tax woes
Does anyone else get annoyed at this time of year, with how long it takes for financial institutions to send annual statements? These statements need to be audited, but surely that is a semi-automated process?
I’ve found that it’s best to wait a month or two before you should even attempt starting a tax return if you use investment apps or hold shares. Let me know in the comments how you’re finding the tax process this year.
App you should try - Qmee
Shoutout to the little Survey app, Qmee. I’ve been using it to earn income on the side. I like this app because you can cashout your earnings instantly to PayPal or Gift Card. There is also no minimum amount that you need to earn before you can cashout.