Have you always wondered how to automate investments? We’ve got you covered. In this guide, we explain the following:
1. How to set up an automated investment plan
2. How to edit automated investment plans
How many times have you broken your promise to save or invest money? No worries, it’s a common challenge. I break my promises too. To actually save and invest, you need to go beyond self-will. You need an extra push, not just the fantastic interest rates we offer. Here at Cowrywise, we ensure that your wealth-building journey comes with that extra push.
This is why we have made it possible for you to automate your investments. You set a schedule; ₦4,000 per day for instance. Then, you relax while we take care of all the tricky parts. With automated investments, we’ve created an excellent way for you to invest without you having to do anything at all! Also, these have been tailored to accommodate everyone, regardless of income or faith.
How To Set Up An Automated Investment Plan
1. Download the latest Cowrywise app.
2. Signup and create a free account. You can log in after this.
3. Tap “Invest”, then tap on either the “Naira Mutual Funds” or “USD Mutual Funds” card.
4. Select a Mutual Fund to invest in.
5. Give your investment a cool name and select next.
6. Choose “Yes, enable automation”, and choose how frequently you want to invest.
7. Select an amount you’d like to invest periodically.
8. Choose a day to start investing.
Read more about how mutual funds work.
How To Edit Your Automated Investment Plans
We understand that when you first set up your investment, you may have decided to fund your investment once a month. Now you’re excited about how well it’s going, and you want to change the frequency. You can edit the frequency to weekly or even daily contributions.
To change your automation settings:
1. Log in to the Cowrywise app and tap “Invest”.
2. Click on either the “Naira Mutual Funds” or “USD Mutual Funds” card. Here, you can view all your investments.
3. Tap the investment you wish to edit.
4. Tap “Edit Investment Automation”.
5. Then, you can proceed to adjust how frequently you invest and how much you want to invest.
Can Automated Plans Be Paused?
Automated investments are great, but our aim is to create features that suit your needs. If your investment is currently automated, you can go to the existing investment plan and tap “Edit Investment Automation”.
Proceed by toggling the “active” option and switch it to “paused”. Once you’ve paused it, save the settings, and the automation will stop. Unless you reactivate automated funding for that investment plan, you will have to invest manually.
Still having doubts? We’ve made investing as easy as possible. Select from multiple mutual funds and start investing today.
ALSO READ:
Introducing Auto Reinvest: How To Make Your Investments Work For You
How can I collect my money back once is mature
You sell the units.
Hw can I get my money back…. When I have emergency cases….. cause am in need of it now??
How can I collect my money back once is mature.on mutual benefit
there is a sell option …or am I wrong?
Yes, there is
What a great teaching today Mr. Ope. Thank you sir. Please, i plead for more of these teachings
Well explained, well understood
Thanks for teaching Mr ope
Good and straight to the point.
Teaching is in-born in you; keep it up.
How can I turn my daily savings to investment for Mutual funds
Once they mature, you can transfer them to mutual funds.
I always love your teaching… Can’t wait for another ???
Very much thanks for this update. But please put me to light in a situation you are to contribute a fixed amount to run for let’s say three years and along the line one is not able to make it to the end due to unforseen circumstances after a period of say five months. What will happen to his contribution?
It will keep earning.
What about me that I invest with #1000,and I cash back with dat 1000,which kind of invest is that
This is insightful and i like the pizza explanation thingy. Is mutual fund risk free or there is any chance of default?
Thanks for your kind words. There varying risk levels for mutual funds. On Cowrywise, we have hem categorized from low-risk to high-risk. To find your best fit, we’ll take you through a short risk assessment.
Well understood…cheers?
That’s great to know.
clementogbewe@gmail.com
What is the parcentage interest rate of all the mutual funds?
Lol! May be free investment ,???
Ope ?
Thank you very much for the explanation. It breaks the whole concept down to perfectly understandable bits.
Now, my question is this – high risk mutual fund investments, where the YTD earning is something negative (as sometimes seen on the CowryWise platform), how do people actually make money from those?
I am always happy and expectant to get a mail from you, Ope, because I know I am about to learn something new.
Thank you for teaching with the whole illustration, I understood mutual funds better.
PLEASE I WOULD LIKE YOU TO EXPLAIN CALL UPTION AND HOLD UP TION
How do you know the maturation period
Hi Henry.
Only savings plans on Cowrywise have maturity dates.
You can purchase and sell your investments on Cowrywise at any time.
However, we always advise you to stick to a long-term investment strategy.
Thank you vary much ope for your explanations.
My question is can one deposit dollar In cowrywise stash??????????.??..
Nice of u cowrywises keep it up.
I believe cowrywise is gonna make this country different.
Why did they stop automatic debit oooooooo