Betterment is an investing app that is all about hands off investing. Essentially you are able to set up a goal that you want to reach and then just deposit money into the account. It will give you an estimate in how much you need to put into the account in order to meet the goal that you have set. If you don’t have a specific goal then that is alright. You can use it as a savings account really, just because the savings accounts that banks offer have no real value anymore. The app allows you to even set up automatic deposits from a bank account, which means you really don’t have to think about saving money. I would suggest that whatever you plan on saving per month that you actually split that up into weekly deposits. One of the reasons for this is because it seems like Betterment doesn’t want to readjust your investments until you put more money into the account. This means if you do it weekly then it should keep adjusting the account in order to operate better. Also putting money in weekly usually means you will actually put in more money by the end of the year then if you did things monthly. I wouldn’t spend a lot of time at first looking at what the account is doing because nothing is really going to change until you have at least $1000 in the account. After that point you may want to start keeping an eye on the account, about once a month at most. Even then it won’t seem like to much money will be earned, but this account is for long-term savings really. Don’t bother trying to do short-term savings with this type of account. Overall Betterment does what it sets out to do and even though you won’t get crazy returns on your money it should at least be a better place to stick excess money then a savings account.

Do you have any experience with Betterment? Let us know in the comments.