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Acorns Helps You Invest Your Spare Change

Savings concept. Focus on hand. Indian guy save money to glass jar.


Acorns is helping people put their spare change to good use by investing it in stocks. Every time you make a purchase, Acorns rounds the change up to the nearest dollar and invests the difference. There is nothing you have to do after setting up your bank account, everything is automated, and the system runs by itself.

Investing made easier

While it’s fantastic that you’ve now started investing, it will still cost you. Acorns charges $1 a month for accounts under $5,000 and accounts with more than $5,000 pay 0.25 percent per year. The amount may not break your bank account, but you have to make sure that you’re making enough purchases a month to offset the dollar per month, or else a chunk of your change will go to Acorns.

Acorns lets you invest in five different portfolios, each developed with help from Nobel Prize-winning economist Dr. Harry Markowitz. Each portfolio offers a mix depending on the investing style of the user. The five portfolios are conservative, moderately conservative, moderate, moderately aggressive and aggressive. No confusion, but also no customization; these are the only options from which you can choose.

Acorns is safe to use — the app uses 256-bit encryption and doesn’t store any data locally on your device. It is also insured by the Securities Investor Protection Corporation, which protects its customers for up to $500,000.

Takeaway: Invest without thinking about it

The selling point for Acorns is the ability to invest with a small amount of money. Not having to think about the money you invest makes it more accessible, and what’s even better is that it won’t hurt your bottom line. If you regularly do enough transactions to have a higher than $1 return on investment each month, Acorns makes it easy to invest.

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Header image: Adobe Stock

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