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Consumer Watch: Investing when you think you're broke

Technology is making it easier than ever to get involved in the stock market (KOKH).

Technology is making it easier than ever to start investing your money, but your personality has a lot to do with how much you you'll want to participate.

The first and easiest way to start investing is to make use of your companies 401(K). This is a low risk way to achieve a long term retirement goal. If your company offers a match, your contributions should make the most of that. That means saving as much as you need to get the highest possible match from your company.

“We definitely recommend investing for your long term goals, and it is easier than ever to do that. I would caution people that we do get stock market dips and corrections. It does go up and down, so there is some risk there,” says Andrea Coombes, Investing and Retirement Specialist at NerdWallet.

If you want to pick your own stock or bonds to invest in, it is possible and will save you from paying certain fees, but can be difficult for someone new to the stock market. Robo advisors can be an inexpensive way to jump into the stock market. Some apps will allow you to start investing with as little as five dollars, but it is important to check for any fees you’ll have to pay.

“Most of these apps they let you get access to the stock market and they also offer you a diversified portfolio which does reduce your risk a little bit,” says Coombes

Coombes also says most robo advisors charge between .25 to .5 percent, but double check because if you are being asked to pay one percent or more, you could get a better deal.

Here is where personality comes in: deciding whether you want to try low risk or more aggressive investing. Whether you are investing with 500 or 10,000 dollars, You'll need to be ok with the highs and lows of the stock market, and more aggressive involvement will mean the possibility of higher risk.

Some robo investor apps do require at least 500 dollars to start investing, this is still considered a low amount. If you are deciding to try your hand at investing avoid the temptation to pull the money out too fast.

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