Mylo - Round Up Purchases & Invest The Spare Change
Mylo
Round Up Purchases & Invest The Spare Change
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Hunter's comment
Mylo is a financial service designed to help Canadians with their finances and investments. The service advertises "Round up daily purchases and invest the spare change." Mylo is available in Canada only. It is available for Apple and for Android.
From the FAQ page:
Mylo rounds up purchases to the nearest dollar. Any change afterwards is invested into the user's Mylo account.
Habitual spending habits towards coffee, food, etc turn into savings.
Monthly fees is $1 and $3 for Mylo Advantage (More premium features)
Each Mylo user is advised by Tactex Asset Management which manages $130 million in client assets.
Investments are in Exchange-Traded Funds (ETFs).
Like with any investment returns are not guaranteed. There is possibility for losses.
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