The app starts investing when the user's savings total reaches $5, at which time the robo-advisory invests in a mix of exchange-traded funds (ETFs) determined by the user’s risk appetite. If, for example, the user buys a coffee for $3.69, Acorns rounds up the purchase to $4, allocating the $0.31 to the user's micro-investing account. Users create investment portfolios in seconds with a simple click, choosing from a set of custom investment strategies, from conservative to aggressive, in line with their risk appetite.Īcorns then links its platform to the user's debit card or credit card and their bank account. The company's flagship product, "Invest," offers a micro-investing platform to users, allowing them to invest spare change into managed portfolio investments. This fintech company offers users several options for saving and investing without impacting their spending habits. Members can open savings, investment, and IRA accounts, through the platform.Īcorns also runs cashback programs with partner retailers to help users save, and it makes money by charging membership subscription fees and management fees on accounts with balances over $5,000. And the Found Money promotions help accelerate those savings with special promotions with Acorns’ partners.Founded in 2012 with offices in Irvine, California, Acorns has an established reputation as one of the most-used investment apps in the US.Īcorns is a mobile platform offering users the chance to start saving and investing through better spending. Over time, you will blink and will have saved $100, $500, or even $1,000 or more through small transactions that you barely notice. When you use an app like Acorns, the micro-saving transactions help you save for the future, even when you’re focused on today. I use my credit card for every purchase possible, and I’m sure you’re probably the same way. Promotions are changing all the time, so just watch for the latest emails from Acorns and take advantage whenever something is appealing. All you had to do was spend $20 between May 2 and May 8 using a debit or credit card linked to your Acorns account, then about 30 days later the $15 bonus would post to your Acorns account! This promotion is good through August 16, 2016.Ī couple months ago for Mother’s Day, Acorns Found Money had a limited time promotion with where you would earn $15 when you spent $20. The Acorns / HotelTonight partnership that gives you $10 for spending $100 with HotelTonight will stack with the promotion I shared the other day where you can save up to $100 off your next hotel reservation. The current partners are Dollar Shave Club, Jet, HotelTonight, and JackThreads. And the best thing is that you don’t have to do anything to benefit from these relationships, other than to continue using the cards that you’ve already registered with Acorns. However, you should consider your tolerance for risk when choosing where your money is invested.Īs a way to supercharge your investments and maximize your spending, Acorns is building a network of companies that they partner with to provide you with even more ways to save. I chose the Aggressive portfolio because I’m relatively young and am willing to take on the risk. The mix of those assets is dependent upon your risk tolerance. Those funds invest in the asset classes of Large Cap stocks, Small Cap stocks, Real Estate, Bonds, and Government Bonds. What am I investing in?Īcorns investment portfolios are composed of six Exchange Traded Funds (ETFs). You just need to maintain an active Acorns account and ensure that your debit and credit cards are registered. There is no charge to participate in the Found Money program. For accounts of $5,000 or more, you will pay 0.25% per year. When you open an Acorns account using my referral code, you’ll receive $5 to kickstart your savings, and I will get $5 for referring you.Īccounts under $5,000 pay only $1 per month. Here are a few of the banks that they partner with to help you invest. I’ve been using Acorns for about 18 months and have invested about $500 through small investments of about $5 at a time. There are no fees to buy or sell, and you can withdraw the money at any time without penalty. Acorns is a way to maximize that credit card usage by rounding up the transactions to invest on your behalf. We all use our credit cards on a regular basis to hit minimum spends for bonuses and to rack up miles and points on our everyday expenses. When your round-up balance reaches $5, Acorns will debit your checking account and invest in a mix of six ETF investments based on your risk tolerance. For example, if you have a purchase for $4.75, then $0.25 will go towards your round-up balance. Acorns is a web and app-based micro-investment service that helps you save for your future by rounding up transactions from your linked bank debit and credit card accounts.
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