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Low on cash but still want to invest? This guide explores the best financial apps that offer cash advances for emergencies and investment features to help you grow your money for the future. We compare Albert and MoneyLion and what to consider before using each app.
Cash advance apps have become a popular way to manage short-term cash flow problems.
These apps offer a quick way to access a portion of your paycheck early or to help bridge the gap when you’re between shift work or waiting for your next Social Secuirty check to arrive .
But what if you could leverage these apps for more than just immediate needs?
A growing number of cash advance apps are becoming full financial centers right on your phone, incorporating investment features, allowing you to grow your money while managing your day-to-day finances.
If you’re new to investing, the best investment apps should suit your investment style and come with low fees. Prioritizing educational tools (like human advisor access or educational resources) can help you feel more confident in meeting your investment goals.
If you’re interested in micro-investing, read on for the best cash advance apps that offer investing features, along with how they work and what to consider before using them.
How do Cash Advance Apps Work?
Most cash advance apps link to your checking account and analyze your income and spending habits to determine an eligible advance amount.
This amount is typically a small portion of your upcoming paycheck, often capped between $100 and $500. For example, MoneyLion offers up to $250 but you’ll typically be able to borrow $25 to start.
Typically, the app will either deduct the amount from your next paycheck or require direct repayment (often from shift work or benefits programs) within a set timeframe.
Repayment usually comes with a fee, which can be a flat fee or a percentage of the advanced amount.
Cash Advance Apps with Investing Features
Investing can be an uncertain and scary process. Knowing where, when and how to get started are all hurdles you’ll need to jump if you want to start your journey to becoming the next Warren Buffet.
Making things tougher, traditional banks may not offer accessible investment options, especially for those with smaller amounts to invest.
Cash advance apps can fill this gap by providing single or fractional share investing with low minimum investment requirements. Offering a low barrier to entry, you can dip your toe into investing, often with resources and educational materials available in-app.
Since cash advance apps can get a bad rap for creating a cycle of dependence, investment tools can potentially help users break free from that cycle and build a more secure financial future.
The following cash advance apps make the list for offering simple trading options, personalized portfolios, helpful resources and trades on a variety of assets.
#1 – Albert: Invest with a custom portfolio built for you or choose on your own
The Albert app boasts a user-friendly interface and offers cash advances up to $250.
For would-be investors, the real highlight is Albert’s Genius investing feature which has helped members save and invest over $1 billion so far.
You’ll need to be subscribed to Genius ($12.99/month billed yearly or $14.99/month billed monthly) to start investing. Once you’re up and running, simply answer a few questions and Albert’s Genius will create a custom portfolio to suit your needs and risk tolerance.2
You can choose from hundreds of stocks and EFTs to invest in as part of a custom portfolio recommended by Albert. Or, choose stocks on your own. You can even set specific investment goals and track your progress within the app.
Albert’s Genius subscription helps guide you towards your investing goals by investing spare change automatically using the ‘Smart Money’ feature. Round-ups from everyday purchases are directed towards a diversified portfolio determined by you – so you can work towards your goals on autopilot.
Start investing today >>> Create an Albert account in two minutes 👈
#2 – MoneyLion: Start with as little as $1 for a fully managed investment account
The MoneyLion app offers cash advances up to $500 with no interest, no credit check and no mandatory fees.
Outside of cash advances, MoneyLion offers a managed investing feature to help you kickstart your financial goals. You’ll need to subscribe to MoneyLion’s Credit Builder Plus membership which will set you back $19.99 per month.
This can seem costly, but it means you’re not left to invest on your own.
Partnering with Wilshire Associates, a 30-year investment industry leader, MoneyLion has developed five asset allocation portfolios. Each one offers a distinct balance of associated risk and return expectations.3
You’ll get tailored portfolio recommendations based on the risk preference and investment timeline questions you answered when you joined MoneyLion.
You can also invest in your interests with categories tailored to your passions like ‘technology’, ‘innovation’ and ‘social responsibility’.
Like Albert, you can turn on auto-round ups which makes it easy to automatically invest spare change from any credit or debit card purchases. If you buy a coffee for $5.70, MoneyLion will round up to six bucks and invest $0.30 for you. It’s pocket change but over time each round up can help grow your investments.
A managed investment account is priced depending on how much your account value is worth:
- Up to $5000 = $1 per monthly
- Over $5,000 to $25,000 = $3 per month
- Over $25,000 = $5 per month
There are no trading fees, periodic rebalancing fees, or asset-based portfolio management fees and you can get started with as little as $1.
Start investing today >>> Check out MoneyLion 👈
Overall, is Investing With a Cash Advance App Worth It?
Cash advance apps with investing features offer a convenient solution for managing short-term finances and starting your investment journey.
It’s important to be mindful of any subscription fees, but between Albert ($14.99 per month at most) and MoneyLion ($1.99 per month), you’re not looking at unmanageable costs.
If you’re keen to get into investing and want to be guided by real people and investment experts, these monthly fees might be worth it for the peace of mind that comes from listening to the pros.
Auto round-ups can also help reduce your commitment, since you’re only investing small change from everyday credit and debit card purchases.
Remember, look for cash advance apps that are low cost and come with beginner-friendly tools and resources and always consider your risk tolerance and long-term goals before making your choice.
Check out these resources to avoid falling into bad money habits:
- How to use Cleo’s ROAST MODE to become a financial pro 🔥
- Low Income Loans: What are they and how to get one for yourself 🔥
- Five Banks That Let You Overdraft Immediately 🔥
WAIT! Why borrow quick cash when you can earn it?!
Cash advance apps can be a great tool for getting a little extra cash when you need it, but you’ll need to repay it – plus fees – wihtin a week or two. Did you know there’s an easy way to earn extra cash that’s yours to keep?
KashKick is a wildly popular service that lets you earn money for playing games, completing surveys, signing up for trial offers and more. (You’ll even earn cash for just completing your profile!) You can earn cash today and withdraw your earnings through PayPal once you’ve reached $10. You can earn over $100/month with KashKick – and you don’t need to spend a dime or take out your credit card to do it.
There are dozens of high-paying offers available on KashKick, and if you’re into playing new games on your phone, you can earn some serious cash for doing what you love. Though offers change regularly, there are currently1 more than three dozen offers available where you can earn cash – sometimes over $100 – just by downloading and playing popular games like Coin Master, Monoply Go, Bingo Blitz, and more. These games are all free to download, and no in-app purchases are required to earn with KashKick.
Get paid to play on your phone >>> Check out KashKick
- As of February 13, 2024. Offers may change and may not be available to all users. Eligibity requirements apply. See KashKick's Terms of Service for full details.
- Investment advisory services are provided by Albert Investments, LLC, a Registered Investment Advisor. Brokerage services are provided by Albert Securities, LLC, Member FINRA/SIPC. Securities products are not FDIC insured or bank guaranteed, and may lose value. Additional disclosures available here.
- Investment advisory services provided by ML Wealth LLC. Investment Accounts Are Not FDIC Insured • No Bank Guarantee • Investments May Lose Value. For important information and disclosures relating to the MoneyLion Investment Account, see Investment FAQs, Form ADV Brochure, and moneylion.com/investing. Funded managed investing accounts are subject to a monthly account fee of $1 (for accounts valued up to $5,000), $3 (for accounts valued over $5,000, and up to $25,000), or $5 (for accounts valued over $25,000).
