How to use Acorns, the app that helps you easily turn your spare change into an investment portfolio (2024)

FAQs

How to use Acorns, the app that helps you easily turn your spare change into an investment portfolio? ›

Acorns offers investing and banking all in one place. When investors also open a banking account, they can easily set up automatic Round-Ups investing. This means that when investors make a purchase with their Acorns debit card, the spare change amount will automatically be invested in real time.

With Acorns Round-Ups®, we'll help you invest the spare change from your everyday purchases. Say you buy groceries for $30.45. We'll automatically round it up to $31.00, and invest $0.55 in your future. Think of it as investing small amounts regularly, in the background of life.

Its main micro-investing feature allows budding investors to start small by investing the spare change from their everyday purchases. For example, when you purchase a coffee for $3.75, Acorns rounds up to the nearest dollar and invests the spare $0.25 cents into the market.

Acorns was chosen as the best money-saving app for investing spare change thanks to its Round-Ups feature, which automatically rounds your purchases up to the nearest dollar and invests the difference into a diversified portfolio of low-cost index ETFs.

Acorns encourages users to invest their spare change by rounding up a purchase to the next dollar and investing the difference. Through the Acorns mobile app, the company links to its clients' bank accounts to save and invest the spare change automatically.

Once Round-Ups® Investments are on, and your spending accounts are linked, we'll start rounding up your spare change from everyday purchases. Remember: We transfer your Round-Ups® Investments from your linked checking account once they add up to at least $5.

The bottom line: If you want to make the most of your spare change and get the occasional retailer kickback, there's really no better place to do that than Acorns. The automatic roundups at Acorns make saving and investing easy, and most investors will be surprised by how quickly those pennies accumulate.

Acorns is one of the best investment apps for beginners and hand-off investors who want to start investing but are overwhelmed by the choices with other investing apps. This simple and easy-to-use platform offers a low investment minimum, portfolio diversification, and beginner-friendly charting tools.

Is Acorns Worth it? Acorns charges monthly membership fees, starting at $3 per month. Even though it is a very easy way to get started investing, if you don't make enough purchases each month to round up and set aside enough money, the monthly fee could outweigh the benefit.

What is the 50 30 20 rule on Acorns? ›

50% for essential spending. 30% for flexible spending. 20% for financial goals.

Get Bonus Investments with Acorns Earn

Earn money on groceries, gas, and other stuff you're already buying. First, make sure to link the credit or debit card to your Acorns Invest account. Then every time you shop with a selected retailer, that company will add a percentage back into your Acorns Invest account.

You can start small with as little as $5. Given time, the little amounts you're able to squirrel away in an investment account can have the opportunity to grow.

Since there's already a notion that you need a ton of money to start investing, money-saving apps like Acorns and Stash debunk that myth easily. With Acorns, there's no minimum to open an account and you can start investing with just $5; with Stash, you can start investing with just $0.01.

Acorns helps you invest and save for your future. With nearly $4,000,000,000 in Round-Ups® invested and counting, we are an ultimate investing & money-saving app. Get started in minutes, and give your money a chance to grow.

The bottom line: If you want to make the most of your spare change and get the occasional retailer kickback, there's really no better place to do that than Acorns. The automatic roundups at Acorns make saving and investing easy, and most investors will be surprised by how quickly those pennies accumulate.

Acorns is not a side hustle or money-making app that pays you. Think of it as a tool to grow the money you already have with consistent saving and investing. Generally, you'll earn money from your investments and by making qualifying purchases if you link your card to the Acorns account.

Decide how much to invest

Because investing carries risk, it's generally recommended you have an emergency fund with three to six months living expenses on hand. From there, many experts recommend the 50/30/20 rule - with 20% of your take home pay allocated towards saving and investing for financial goals.

Acorns Checking Real-Time Round-Ups® invests small amounts of money from purchases made using an Acorns Checking account into the client's Acorns Investment account. A properly suggested portfolio recommendation is dependent upon current and accurate financial and risk profiles.