Who doesn’t want extra cash and a better way to save it? I always thought that just having a separate account from our checking and savings was enough for having extra money to spend on miscellaneous things, but I realized whatever money I was putting into that checking account on the side was doing nothing for me. My money was sitting there doing nothing until I needed to pull it out. Later a friend introduced me to a mobile app called Acorns. At the time we were new to investing, just having dipped our toes into the world of trading stocks, and learning about this new way of micro-investing sparked my interest. I wanted to know how I can take whatever money I had and make it grow on its own. I’ve now been using Acorns for 2 years and I can say that’s its been good to me! When I needed extra money for our trip to New Zealand, I didn’t have to worry because I knew there was money in my Acorns account, and it was more than what I had invested. Now I’m saving up for our next trip!
Acorns works by using “round-ups”, taking spare change from rounding up your purchases made by your credit or debit cards to the nearest dollar, and investing it. You just link your checking account and Acorns will automatically place that change into an investment account for you. You can also deposit more money to invest or withdraw money whenever you want with no penalties or fees. You can also choose what type of portfolio you want depending on how much risk you want to take. Once that’s done you can just watch your spare change add up and grow! Here’s a video from Acorns that explains everything:
I like Acorns because it’s easy and a great way for anyone starting out in the investing world. You hardly notice that you’re saving a few dollars here and there, so you won’t miss the money unless you’re really tied up for it. If your Acorns account has less than $5,000 there is a fee of $1 a month. If there’s more than $5,000 then the fee is 0.25% a year. Just remember, the more money you have in your account the faster it will grow. Be smart with your money and make it work for you! Don’t let it sit there and do nothing.
So….if you’re interested in opening an account, Acorns will give you $5 with your first investment if you register using this link: Join Acorns Today . It’s gotta be one of the easiest $5 made ever! If you go to Acorns and open an account on your own, you won’t get the $5. Once you’ve opened your account you can easily check it on the mobile app or on your desktop. Warning: you might get addicted!
And if you do open one, let me know and tell me what you’re saving for! I’m curious!
*These are affiliate links. So yes, I’ll get a cut too. 😉