One of the most requested topics from our users is investing. Especially with all of the "advice" available on social media, most of us are left confused about what to actually do and if the advice is real & trustworthy.
So, we partnered up with Acorns, to cover the basics of investing & show you what others are doing with their money, giving you a real perspective on what people just like you are actually doing, when it comes to investing.
Depending on your social circle, you might (falsely) believe that literally everyone is investing. Or the opposite - that investing is not for you because of [insert excuse here]. Here's the truth though - when it comes to Frich users - 64% are currently investing their money.
If you're part of the 36% that isn't investing, we'd definitely recommend subscribing to our newsletter and downloading the Frich app for personalized tips & recommendations on how to get started!
Same applies here because you only hear of the crazy outlier stories... It's either a 17 year-old crypto billionaire or someone that lost all of their money to a meme coin. But the truth is that most people that invest in crypto, invest just a portion of their money into it and don't really touch it, regardless of the market.
When it comes to Frich users, we are perfectly 50/50 on crypto.
This is quite an insightful question since it shows you (1) the risk tolerance of Frichies, and (2) their financial stability. Here's what users said: 51% would put it in savings, meaning that Frichies are very slightly leaning more conservative, when it comes to money.
Here's our simple rule of thumb: if you don't have a 3-6 month emergency fund saved up, you should prioritize putting money into your savings over investments.