Raiz is a really neat app that invests your spare change in a diversified portfolio. It works in the background to grow your savings, every time you spend money.
You can get a bonus $2.50 in your account when you sign up through our offer link below.
How Raiz Works
Raiz is a mobile app (they also offer a desktop version), that links with your bank account. Every time you make a purchase using your account (paypass, eftpos etc) it rounds up to the nearest dollar and transfers that small amount into your Raiz Investment account. For example, if you bought a coffee for $3.80, it would round up to $4 and transfer the $0.20 into Raiz.
The more you spend the more you save!
You can also choose to setup regular deposits to grow your investment even more.
Does Raiz Work?
I’ve put together a longer post detailing my personal experiences with Raiz. I’ve been using it for the past 12+ months, and have seen a very healthy return. As a way to save money I think it’s a great idea and it certainly works better than a savings account.
You can get started with just $5
What I love most about Raiz is that it lowers the barrier of investing. You can get started with as little as $5. Everyone needs to start somewhere. The sooner you start the great the compounding effect will be as you get older. Traditionally, to invest in a diversified index fund like this, you would need thousands of dollars and you would pay really high fees. With Raiz all it takes is some spare change and the fees are below what you’d pay on more traditional mutual type funds.
$2.50 Raiz Bonus
If you signup using the link below, you’ll get a little extra bonus in your account. $2.50 isn’t a lot but every little bit helps.
Here’s how to get your Raiz Bonus
- Register for Raiz through this link
- Link the app with your bank account (Raiz uses bank level security and is built on the well trusted Acorns platform).
- Start saving!