Some weeks ago I downloaded Oval Money and I added it to my Investment Portfolio. Some of you asked me what it is, so here you are the Guide to Oval Money! 🙂
What it is? What are its functions? Why is it used?
Its official name is Oval Money and is an application that allows you to save money and invest it. It is possible to connect all bank accounts and even credit cards to the application, so you will have all your movements under control. These will be recorded and stored by the digital system of the app so that you will always manage your expenses.
You can find Oval on the App Store and Play Store
In short, it is an easy way to save, but not only. Oval Money also allows you to invest. The investment section was born recently but has already been a great success. Users who are already registered on Oval Money have all declared positive evaluations.
Why is Oval Money used?
The main objective of this app is to guarantee the user a certain saving in costs. Oval Money is a very useful start-up that serves to store all the details needed to save money. Every user can select all his habits regarding financial expenses, with just a few clicks. In a very short time, the app will draw up diagrams and tables that will alert the person when he spends too much. Besides it allows users to invest, but we’ll talk about this later.
How does Oval Money work and how is it used?
To be able to use Oval Money you need to download it to your mobile phone. In no time you can use the app on your device and the main screen will appear. From here you can start to connect your credit cards to your digital system, and also your bank account.
This way every time you spend, all bank transactions will be recorded. Each recording is called a “step”. The user can also choose whether or not to activate notifications. Notifications are useful to report particular transactions or excessive expenses.
It is possible to say that Oval Money is a real “digital piggy bank“, great for being able to accumulate one’s savings and to calculate the total amount of monthly or weekly expenses.
Each user can change the various options of the app, as well as alerts, through a section called “suggestions”.
You can choose one of the three existing options. The first concerns the possibility of setting aside 50 cents each time you publish a post on your Facebook profile. The second one consists in saving money by accumulating the remaining money from small expenses. The third is to indicate a fixed amount to spend, which must not be exceeded.
The particularity of this start-up consists not only in advising the user when he spends too much but also in actually accumulating his savings. The latter can, in fact, be moved weekly from the “digital piggy bank” to your bank account or on your credit card. In this way, the user will see a certain amount of money saved and can keep it
How to open an account on Oval Money?
First of all, you have to download the app. Follow this link to accomplish this step. To open an account on Oval Money you need to register. This phase consists of a few simple steps, in a real wizard. The user will only have to enter his personal data such as his name, surname, residential address, nationality, and email address.
Once this phase is over, the new user will have to confirm the registration and in a short time, the account will be activated.
The digital system will also guarantee the user a nickname and a password useful for accessing your account whenever you want. You can also access your account using your face if your smartphone has the functionality.
If the user wishes to cancel his account, then all savings will be returned within 15 days and entered into his bank account.
What are the other features of Oval Money?
Oval Money also has two other functions besides savings. First of all, you can also use the “Fitness” option to follow a specific physical wellness program, lose weight and control your weight.
However, Oval Money also allows you to earn if your friends sign up for the application. If friends register by entering your referral code, you will both automatically receive 5€.
But the most interesting section is one of the sections born recently on Ovale Money. I’m talking about the investment section. Users will receive useful tips to understand where to invest, but be careful: the application is not needed for trading!
In addition to this, you can invest by using the app and clicking on the appropriate “Invest” button. However, the user must first log in to his or her account, fill out a questionnaire with different questions, enter additional personal data, send a copy of his / her identity document. There are several options for investing. One of these is “recurrent investment” which consists of increasing one’s own money if the invested amount is maintained for a long time.
On Oval is possible to invest in different pre-build thematized funds. In the image above you can see the two funds I chose: Creative Thinking (Oval says that contains “companies that invest in brilliant minds and that challenge the status quo, trying to change the world as we know it”) and Race for Space (“cutting-edge companies in the aerospace sector and security sector”).
These funds are very well diversified. For instance, the Creative Thinking fund consists of 20 companies, 5% each (Workday Inc, Twitter Inc, Merck & Co, Electronic Arts, Autodesk Inc, AMD, and so on).
At the moment these are the available funds on Oval:
What are the other features of Oval Money?
Users declare that Oval Money is particularly convenient and full of advantages for different reasons. One of these is also the possibility of receiving assistance.
Whenever a user has a problem, he can contact the service to solve it. In no time he will receive a reply and the problem will be solved. According to most users, Oval Money is very useful thanks to its different functions, then it’s free. In addition to these reasons, it is also advantageous because it is very simple to use and in a short time, the user finds everything he needs.
Final remarks and 5€ Bonus for you
I’ve been using Oval for 2 months now and I believe it can be very useful for those who want to start saving money. The app will do the hard job for you.
In addition, it allows to invest in funds even if you have very little money, and this is a big advantage in my opinion. For instance, I started with 110€, and now I’m increasing my investment whenever I have a decent savings balance.
To conclude, I would like to share with you my referral link, which allows both of us (you and me) to receive 5€ after your registration. If you want to try Oval, I’ll be pleased if you do it through this link.
I think I wrote everything, but if something is missing or something is not clear, feel free to leave a comment and I’ll be happy to answer!
Finally, I strongly encourage you to subscribe to the blog to stay always updated about my new content. That’s it, this was my Guide to Oval Money. I hope you liked it, and have a good day! 🙂