Mylo Review Jul 1st

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Mylo Review

– canadianfinanceblog.com

Mylo ReviewIt’s very possible that when it comes to reaching your savings goals, nothing is more important than automation. Most people, no matter how hard they try, cannot save consistently if doing so requires a manual process. Mylo is a revolutionary app, the first of its kind in Canada, that not only automates your savings, it does so in such a way that you’ll hardly even notice.
Similar to Acorns in the U.S., Mylo links to your primary debit and/or credit card, and rounds up all of your purchases to the nearest dollar. It then withdraws the ‘spare change’, and invests it inside a low-cost ETF portfolio that you set up when you open the account.
What makes Mylo especially unique, is that it’s designed with your specific savings goals in mind. As I’ll explain in more detail later, Mylo wants to know what you’re saving for, and they’ll help you create a plan to make it happen. I found the concept so unique, that I thought I’d test it out myself by opening my own account.
Setting Up Your Mylo Account
As soon as you download the Mylo App, you’re ready to open your account…

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