Acorns Review 2021: Invest Your Savings With a Click of a Button

Acorns' spare-change saving tool and reward programs make investing easy. But is it worth using?

At SavingJunkie, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Need Easy Extra $500+ for Your Next Vacation?

Investing any amount of money, whether you are investing $100,000 or only $500 — can be complicated if you don’t have the time to do the due diligence.

That’s where Acorns can help out even the most savviest investors and helps remove any hesitation about regularly investing in the stock market.

Acorns is a microsavings app similar to Qapital and Digit, but with a kick. This app saves you money but allows you to invest this money with a click of a button. Your savings can actually make you money, and you can even get started with a $5 bonus through this link. Here’s our Acorns review.

 

 

Featured App: Acorns

Acorns Logo

Want free money?

  • Aspiration: Want to get spotted a $100 for free? Simply sign up for Aspiration, and the free banking app will give you cash for free, you just relax while it gives you $100 just for opening a new debit card. There’s no catch. This bank account is legit and only takes two minutes to sign up for an account.

LEARN MORE
At Acorns

 

About Acorns:

  • Invest your spare change automatically.
  • Join almost 4000000 people saving and investing every day.
  • Sign up in no time to save and invest more money.
  • Money is invested in a portfolio based on your income and goals
  • Click here to sign up for free.
Bonus: SavingJunkie readers will get an extra $5 just for signing up!

What is Acorns?

Acorns is striving to become the best investing app to help make it easier to save and invest. CNBC calls it “the new millennial investing strategy.”

Once you connect the app to a debit or credit card, it rounds up your purchases to the nearest dollar and funnels your digital change into an investment account.

More than that, you can invest for retirement, open a checking account, and set up investment accounts for your children, among other services that we’ll cover in this Acorns review.

Sign up to try it risk-free with a $5 sign up bonus.

Acorns in Action

While the Acorns app is beautifully designed, it also works on mobile web devices and desktops (which is very useful). If you don’t know how to trade stocks, then you’ll benefit from a more passive investing approach that Acorns offers.

Acorns Features

One feature that we love about Acorns is that the money that you’re saving is being invested. By investing your spare change, it makes it simple for you to grow wealth over time.

So what’s the big deal about investing?

Well, do your coworkers or friends all talk about their investment portfolios? You’ve been meaning to get in the stock game, but how do you start if you don’t have a big wad of cash to invest?

We’ve got your answer. It’s called Acorns, and it’s an app that lets you start investing without risking big bucks.

How Does Acorns Work?

It’s pretty simple and the beautiful app does it for you after a few minutes of setting up the preferences you can:

  1. Invest automatically: Set aside spare change or extra cash as you go about your day with Round-Ups and Recurring Investments.
  2. Save for later: Get the easiest IRA, Acorns Later, and save for retirement without thinking about it.
  3. Stick with it: Sit back and let your money grow over time in diversified portfolios constructed by experts.
  4. Earn Found Money: The more you earn, the more you can save and invest! Grow faster the 250+ top brands that invest in you when you shop.
  5. Grow your knowledge: Original content right in your app helps you grow your money knowledge on the go.
  6. Spend Smarter (New): Pre-order the only checking account with a debit card that saves and invests for you, plus no minimum balance or overdraft fees. Qapital has this feature which we go over in our Qapital Review, but you aren’t able to earn interest or invest on your savings accumulated. This is where Acorns shines.

How Does Acorns Protect Your Information?

All of your data is protected with 256-bit encryption and never stored on your phone, tablet or computer.

You can learn about Acorn’s security measures here.

Acorns Fees and Pricing

Simple pricing: Acorns is just $1, $3, or $5 per month. No surprise fees, just surprise upgrades.

acorns pricing

For more, check out the pricing page.

The Good and Bad

What we liked about Acorns
  • Easy and fast sign up in under 5 Minutes.
  • Download Acorns and get started easily, with no minimum investment required.
  • You can easily set aside spare change or extra cash automatically as you go about your day.
  • Ability to grow your account over time with diversified portfolios constructed by experts.
What we didn’t like about Acorns
  • The portfolios are pretty basic, which you can construct yourself in minutes (mainly VOO, VB, VWO, VNQ).
  • No tax-loss harvesting.
  • Your money is being invested, your returns are not predictable.

Acorns Alternatives

AppDescription
capital one shopping
Capital One Shopping
★★★★★

Amazon doesn't want you to know about this plugin. Learn about a little known plugin that tells you if you're getting the best price on Amazon.
DOWNLOAD
acornsAcorns
★★★★★

Acorns lets you invest your spare change automatically and join almost 4,000,000 people saving and investing every day.
DOWNLOAD
acornsIbotta
★★★★★

Ibotta is a free app that allows you to earn cash back both in-store and online. It is well worth the little bit of time it takes to download, configure, and use.
DOWNLOAD
acornsTrim
★★★★★

Trim delivers on its promise to save you money effortlessly. You can use it to cancel unwanted subscriptions and bill negotiations.
DOWNLOAD
acornsRakuten
★★★★★

Rakuten is a must-have. They offer cash back as high as 10% for some stores. So if you are shopping at Target and you buy something for $500, you'll get $50 in cash back.
DOWNLOAD

Is Acorns Worth It?

Imagine if you could invest in your future without really noticing. Sign up in under 5 minutes and join over 4,000,000 people.

Acorns Logo

START SAVING WITH ACORNS

(Or click here to learn more about Acorns → ) 

Acorns Review

$1 - $3/month
8.5

Commissions & Fees

9.0/10

Customer Service

7.5/10

Ease of Use

9.5/10

Education

8.0/10

Savings Options

8.5/10

Pros

  • Signing up takes less than 5 minutes max.
  • Getting started is quick and painless with no minimum investment required.
  • You will be able to set aside spare change or extra cash automatically as you go about your day.
  • Easily can grow your account over time with diversified portfolios constructed by experts

Cons

  • Your savings would be invested, your returns are not predictable.
  • They charge monthly fees, but you can use it for free if you sign up with an .edu email account.
Want free money?
  • Robinhood is a free investing app for your phone. I really mean free all around – free to join and they don’t charge any fees to buy or sell the stock. You can get a share of stock like Apple, Ford, or Sprint for free when you join through this link. The value of the free share may be anywhere between $2.50 and $200 and fluctuates based on market movements. You’ve got nothing to lose.

About the author

Brian Meiggs
Brian is the chief editor of SavingJunkie and is a personal finance expert who has spent the last few years writing about how Millennials can make smarter money moves. He has been fortunate enough to have appeared in several online publications, including Yahoo! Finance, NASDAQ, MSN Money, AOL, Discover Bank, GOBankingRates, and more. He is also diversifying his portfolio by adding a little bit of real estate. But not rental homes, because he doesn't want a second job, it's diversified small investments in hands off real estate investing via an app called Fundrise.

The best apps to save you real money

We are on our phone a lot, right? Wouldn’t it make sense to save money with the best money saving apps?

AppAt a glancedownload
robinhoodRobinhood
★★★★★
Open a new account in the next 24 hours and you could get up $200 in free stock.
CLAIM FREE STOCK
aspirationAspiration
★★★★★
Get a $150 bonus at Aspiration when you open and fund an account with $10 or more. Then use your Aspiration debit card to make at least $1,000 worth of cumulative transactions within 60 days of account opening.
CLAIM $150 BONUS
capital one shoppingCapital One Shopping
★★★★★
Amazon doesn't want you to know about this plugin. Learn about a little known plugin that tells you if you're getting the best price on Amazon.
START SAVING
Truebill reviewTruebill
★★★★★
This free app delivers on its promise to save you money effortlessly. You can use it to lower your bills, cancel unwanted subscriptions and bill negotiations.
SLASH YOUR BILLS

On a similar note...

Bottom Line:

Imagine if you could invest in your future without really noticing. Sign up in under 5 minutes and join over 4,000,000 people!

Explore More On

Acorns Review

$1 - $3/month
8.5

Commissions & Fees

9.0/10

Customer Service

7.5/10

Ease of Use

9.5/10

Education

8.0/10

Savings Options

8.5/10

Pros

  • Signing up takes less than 5 minutes max.
  • Getting started is quick and painless with no minimum investment required.
  • You will be able to set aside spare change or extra cash automatically as you go about your day.
  • Easily can grow your account over time with diversified portfolios constructed by experts

Cons

  • Your savings would be invested, your returns are not predictable.
  • They charge monthly fees, but you can use it for free if you sign up with an .edu email account.
SavingJunkie