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
|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.
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:
- Invest automatically: Set aside spare change or extra cash as you go about your day with Round-Ups and Recurring Investments.
- Save for later: Get the easiest IRA, Acorns Later, and save for retirement without thinking about it.
- Stick with it: Sit back and let your money grow over time in diversified portfolios constructed by experts.
- 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.
- Grow your knowledge: Original content right in your app helps you grow your money knowledge on the go.
- 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.
Acorns Fees and Pricing
Simple pricing: Acorns is just $1, $3, or $5 per month. No surprise fees, just surprise upgrades.
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.
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Acorns lets you invest your spare change automatically and join almost 4,000,000 people saving and investing every day.
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.
Trim delivers on its promise to save you money effortlessly. You can use it to cancel unwanted subscriptions and bill negotiations.
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.
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 Review$1 - $3/month
Commissions & Fees9.0/10
Ease of Use9.5/10
- 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
- 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.