Is the Acorns Investment App a Scam? | Find Out the Truth!

is the acorns investment app a scam

Introduction to the Acorns Investment App

Remember all of that spare change that you used to keep in a jar when the world was on more of a cash basis?  The gigantic Pickle jar with all of the Quarters?  The Piggy Bank?  Yes, most of us remember those days?

Well, there is a way of saving that change in an investment account for your future now that we are living in a world of plastic debit cards.  A lot of people in this day and age do not carry cash around like they used to.  I am one of those people too.

In Comes the Acorn Investment App

This is where the Acorns Investment App comes in.  This App can make you feel like you are making money by rounding up your spare change.  Saving is a wonderful thing.  And, this might be a great option for you if you are one of those people that has a hard time saving.  This App is fun and can even be quite enjoyable for those of us that enjoy saving for our future and putting money aside in a clever way.

Is Acorns the Real Deal?

Is the Acorns Investment App a scam?  Is it a legit way for you to save money?  Can it even make you feel like you are making money?  We are going to look at all of the ins and outs of this interesting App in this complete Review!


Acorns Investment App Review – At A Glance

Product Name Acorns (Investment App)
Star Rating
Cost No cost
Jeff Cruttenden
Website Acorns Investment App Website


Is the Acorns Investment App a Scam?

NO!  It is not a scam!  And, it is indeed a legitimate way to save money.


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How Does the Acorns Investment App Work?

is the Acorns Investment App a scam

The Acorns Investment App is something that you can sign up with for free.  They charge $1 per month on balances under one million.

Acorns works by rounding up your transactions for you and putting the “spare change” in an Investment Account.



This is my great example:

You pay $3.50 for a purchase with your Debit Card

Your Acorns App will round up to $4 and put .50 for you in an Investment Account



How Much Does Acorns Cost You?

So as I mentioned, the Acorns Investment App charges you one dollar per month for balances that are under 1 million.  One dollar per month can seem like a lot when you are only investing spare change.

My guess is that if you had One Million Dollars, you would not be investing it with Acorns and would most likely have a private money manager.  Am I right?

Interesting Facts on Acorns

Acorns is currently valued at $860 million.  It has been acclaimed to be a clever way to get Millenials to save money.

Acorns currently has over 5 million users.  That is a lot!

You need a minimum of $5 in your Acorns Account in order to start investing.


Let’s Take a Look at Some of Acorns Other Services

acorns investment app


Acorns Spend 

This is an FDIC ensured checking account that comes with a debit card.  This will cost you $3 per month if you have Acorns, Acorns Spend and Acorns later.

Acorns Later

This is an individual retirement account.  It is available to Acorns investing App users.  People who also open an IRA with Acorns will pay $2 monthly for both accounts.

Found Money

This is a cash back program similar to a Rewards program with your credit card.  When you make a purchase with an Acorns Found Money Partner, they will automatically invest in your Acorns portfolio.


My Final Thoughts on the Acorns Investment App

I think this is a great way to save money depending on your situation.  If you are not used to saving or investing then this is certainly a clever way of getting you in the habit and getting you started.

It is always wise to have 3 months worth of expenses in the bank so let’s not forget a savings account at your bank.  With life’s uncertainties, you never know when you might need this.  You just never know.

I think that the Acorns Investment App is extremely clever and will be great for a lot of people.  It is not right for me right now because I do like saving and I don’t really want to pay one dollar per month for my purchases to be rounded up.  One dollar is just to much to pay per month when I am already frugal with my purchases so the rounded up amount would literally be pocket change and not worth it.

It is easy to sign up for the Acorns Investment App but you will of course be required to link a bank account or credit card to it.  Acorns is fully secured but I do not like linking my bank account to anything.  That is just my personal choice.

If you want to try Acorns, then you have nothing to lose and your pocket change could add up way faster than you think!


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How I Make Money Online

I am always looking for ways to make or save money online.  It is important to me to build up a passive income that I can count on for years to come and even through retirement.  Let’s face it, in most cases, your income is extremely fixed in retirement and it is all based on what you saved.  I am not including Social Security which is another story itself!

Wouldn’t it be nice to know how to create a passive income for yourself for not only now but one that keeps coming in even when you are retired?  It sounds good, doesn’t it?

Well, you can do this and get started now and I would like to coach you along the way.  I got started on pursuing my dreams and preparing for my future and you can too.  I love being able to focus on the matters of the heart and building my future.

Click the banner below for your Free Starter Account to learn everything that you need to know to build a business online and create a passive income for yourself and your family.  There is no credit card required to sign up.


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Once you are inside the community, I will send you a personal email to let you know that I am there to coach you.

What do you think of the Acorns Investment App?  Do you enjoy saving money?

What do you think about building a business online and creating a passive income even for your Retirement?

Leave a comment in the comments below and I will answer you on a daily basis!

Lots of Love!


Read About Me if you want to  🙂

Alisha DeLozier

Alisha DeLozier

I am the founder of Two Free Websites and have been running my own online affiliate marketing business for several years. The niches that I am involved in range from Dog Football Jerseys to Consumer Product Reviews. All of which I have a personal interest in.

I am also the avid member of Wealthy Affiliate where I engage with the community of over 2 Million members.

12 thoughts on “Is the Acorns Investment App a Scam? | Find Out the Truth!”

  1. I LOVE acorns! It is neat to watch they change add up, I guess its the new version of the coin jar.  Imagine adding up your change for a year. Christmas is covered. Five years, vacation!!. 18 years, that is a good chunk of change for your kids college,free year, or a car! Thanks for explaining all of the details, definitely not a scam 🙂

  2. Thank you for this article. I was wondering about the acorns Investment app. I actually still do use cash for some things I’m so I still have all those coins. But that’s true as time goes on I will probably use more and more digital money especially when my online business gets going.
    I think that my bank actually offers a similar option kind of, where you round up and then the chain to get to put into your savings.
    I think it sounds like a cool app and charging a dollar for it is clever because with a million users they could have $1000000 and so on.
    Thanks for this article and for your suggestions about how to make money online. I am trying to do a website and make passive income online like you were saying.
    Great article take care!

    • Jen,

      If your bank offers that service., then I would definitely go with your bank!

      Creating a passive income online is something that you can truly depend on although is takes time, dedication and perseverance just like anything worth having in life!

      It is clever to charge 1 dollar because as you stated, 1 dollar from 1 million people is a million dollars!  That is exactly how I think about Affiliate Marketing too.

      4.2 billion people are online and if you can make 1 dollar from 1 million of them then there you go!  It is attainable!

      Best wishes!


  3. Thanks for your review of the Acorns Investment App.  Is this app available in the UK?  Iam a little confused how this works tho?  So the more you spend on your debit card the more your payments will get rounded up.  Is that correct?  Want to find out a bit more about this thanks

    • Darren.

      I am not sure if it is available in the UK.  Hopefully so.

      If you spend $2.50 on coffee, the app rounds up the total to the next whole number which is $3.

      It puts the .50 difference in your Acorns Investment Account.

      Pretty cool, huh?


  4. Hello

    Thank you for this informative and very well-written article. Although you assure us that it isn’t a scam and that it is absolutely legal, I agree with you that linking a bank account or credit card to it would be risky. But the number of users shows the echo in the online world of passive income.

    My opinion is that dealing with the Wealthy Affiliate program is the best choice to earn a passive income. I do believe that the only it needs is patience and time. 

    Thank you for your tips.

    • Thank you so much for your comment.  Even though it is legit, I do not like exposing my bank account to anything.  I did download it but chickened out when it came to linking my account.

      My friend uses it and loves it.  He enjoys watching his pocket change add up into something great!


  5. Hello Alisha, I must say that this article is very helpful and informative. Today is very hard to spare some money because we are all in some debts but this app looks promising. I will install it right away as I don’t have anything to lose. Thank you for sharing such a great application for saving the money.

    • Daniel,

      You are so welcome and I am glad that you found the article to be useful!

      I have the Acorns App as well and it is fun to see the money adding up in your account.  That is a great feeling!


  6. Thanks Alisha for the heads up with the Acorn Investment Review.

    Saving and investment is one very important financial steps to indulge in if one really wants a great life even after retirement. The years roll by really fast, and before you know it, 5 good years is gone and sometimes for some, nothing to show for it. If they have been saving at least $1000 bucks, they would have had some good money saved up!

    Acorn investment uses a clever strategy to get people to save and take advantage of changes lying around in the account. Thumbs up!

    • Mariam,

      I do think it is a very clever way to save money.  And, you will hardly even notice the pocket change that it saves for you.  It can all add up so quickly!

      Thank you for your comment!



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