Use Your Spare Change to Grow Your Money | Acorns App
Investing is often complicated and intimidating. The Acorns app aims to simplify this process with a revolutionary app created to let users easily take control of all their investments and become regular investors. Begin to invest spare change smartly today.
Investing is often complicated and intimidating. The Acorns app aims to simplify this process with a revolutionary app created to let users easily take control of all their investments and become regular investors.
Acorns App Overview
Acorns is an investing app that lets people automatically invest their spare change by rounding up the purchases they make with a linked credit or debit card. Currently valued at $860 million, Acorns is known for getting millennials interested in investing. It is one of the best investment apps for beginners who haven’t invested yet or need a bit of guidance.
The all-in-one financial wellness investing app makes it easy to save and invest simultaneously with micro savings being their main driver. It’s not all about spare change though. You can also invest for retirement, set up a checking account, and set up a custodial investment account for your children, among several other services.
After you download the app, you have to link your main round-up account with Acorns. Choose which transactions you want to round up and invest the change. This is the account that the funds will be taken from.
Step 2: Link Your Checking Account
Now you have to link the account from which the funds will be transferred into from your Acorns account. Connect an existing checking account safely with Acorn’s high bank-level security.
Step 3: Create an Investment Account
You’ll have to answer some basic questions including your personal details, employment information, and some other standard questions required by the SEC. This helps Acorns generate customized advice and a recommended portfolio for you. You will also have to choose from one of the five reasons below for investing:
* Long-term investment
* Short-term investment
* Major purchase
Step 4: Start to Invest
Now you can view your portfolio, check your index funds’ performance, see what the market is doing, and much more.
As with all investing, you can earn as much as you’re willing to invest. If you’re a frequent card user who makes many daily purchases, Acorns will round up all those transactions and boost your savings. If you don’t use your card as much, you may lose out to card fees.
There are no deposit or account minimums to maintain, no commission fees, and no penalties when withdrawing funds. For its services, Acorns charges:
* A flat fee of $1 per month for accounts of less than $5,000
* 0.25% fee annually for accounts larger than $5,000
For $3 a month, you can get an Acorns Personal account which includes an investing account, a checking account, and a retirement account. For $5, you can get an Acorns Family account, which includes custodial accounts for your kids, along with all the features you would get with a Personal account
Start Investing With No Money Today
Grow your money and your knowledge in no time when you begin investing with Acorns!