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)|
|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.
How Does the Acorns Investment App Work?
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
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.
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.
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!
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.
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!