There are many money-making apps out there that allow you to make money by doing a variety of tasks. There are also lots of apps for saving money. But what about finding an app that can help you save, invest and earn money? This is where Acorns comes in. Acorns is a micro-investing and micro-saving app. With this app, you can save, invest and earn money.
Once you connect the app to a credit or debit card, you can earn and save money on an automatic basis whenever you make a purchase using the linked credit or debit card. Plus, you can earn “Found Money” whenever you shop with over 250 companies that have partnered with Acorns using the linked credit or debit card. You can earn more money when you sign up for an Acorns Spend account that allows you to get up to 10% invested in your Acorns Core account from local places you visit every day. With this app, you are basically saving, earning and investing money – 3 in 1.
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Sign up with Acorns app here or keep reading to learn more!
What Is Acorns App?
Acorns app is a micro-investing app that makes saving easy. It saves, invests and earns money for you. When you create an Acorns Investment Account and then connect a credit or debit card to it, Acorns rounds up your purchases on the linked credit or debit cards to your Acorns account and then invests the change automatically into an investment portfolio.
You can create an IRA that is best for your retirement if you sign up for Acorns. If you want more benefits, then you can register for Acorns Spend account – a checking account that comes with a debit card that saves, invests, and earns for you, plus includes all benefits of Acorns Core and Acorns Later. With the Acorns app, you can save, invest, and earn money.
How Does Acorns App Work?
Acorns is a system that helps you save, invest, and earn the most when you use all of its automated tools together. It offers three different types of accounts:
If you are a new customer, you will first need to sign up for Acorns Core. Core helps you invest spare change and extra cash over time into a diversified portfolio.
Acorns Later is the easiest way to save for retirement because allows you to set up an IRA that is right for you to save for retirement and enjoy a better life later.
Acorns Spend is the only checking account with a debit card that saves, invests, and earns for you. When you get Acorns Spend, you get Acorns Core, Acorns Later, and Acorns Spend – 3-in-1.
After you register for Acorns core, you can then open an Acorns Later account, or sign up for Acorns Spend. Acorns is designated as a system so you can make the most of it when you use all of its tools together.
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How Much Is Acorns?
Acorns charges a monthly fee for three different Acorns accounts:
- Core – $1/month for a taxable investment account.
- Later – $2/month for an Individual Retirement Account (IRA), plus everything that comes with Acorns Core.
- Spend – $3/month for an Acorns checking account, plus everything that comes with Acorns Core and Acorns Later.
Acorns is free for four years from the sign-up date for college students with a valid .edu email address.
Who Should Use Acorns?
Acorns app is best for you if you
- want to save money when you make a purchase
- are struggling to save
- are not currently investing
- want to save for retirement
- want to earn money by getting cash back on purchases
How to Earn Money with Acorns App?
The Acorns app allows you to make money from your everyday purchases. Acorns app lets you start earning with as little as $1.
Earn Round-Ups – When you make purchases with a credit or debit card that is linked to your Acorns Core account, Acorns rounds up every purchase to the nearest dollar/whole number and then allows you to invest that change in an investment portfolio. It automatically invests your spare change in a diversified investment portfolio. This is a great way to earn and invest money for now and the future.
Earn Found Money – Acorns partners with over 250 Found Money partners like Walmart, Nike, Airbnb, Sephora, Macy's Blue Apron, Groupon, Warby Parker, Stitch Fix, MeUndies, and more. Whenever you shop with your linked credit or debit card at one of these partner brands, they will invest in your Acorns account. So you are basically earning free money from companies you are very likely already spending money at.
Found Money rewards vary from company to company and will get deposited into your account within 60-120 days of your purchase.
Earn More Money – You can earn more money if you register for your Spend account which allows you to get up to 10% invested in your Core account from local places you visit every day.
How Much Can You Earn?
If you make enough purchases every month, you can certainly give it a try. For example, if you make 60 transactions a month and get an average of $.25 per transaction, you are earning $15 every month. It is certainly not much but you are basically earning free money and the money can add up over time. When your spare change is invested automatically, you can grow money without noticing it.
However, it might be better to keep saving up your money in a savings account to let it grow. Acorns might be the right choice if you are struggling to save and looking to start investing in future.
What Are The Pros of Acorns?
- Offers individual non-retirement accounts and ROTH and traditional IRAs
- Phone, email, and in-app chat support is available within up to 48 hours. However, a lot of information is easily available on Acorns website.
- No account management fee for college students who sign up with an .edu email address. College students who have little money to invest, could have a little pot of money after for years of rounding up.
- Automated process. You can grow your savings with automatic savings without noticing. You are more likely to save money without thinking about saving money.
- There is no minimum investment amount required to open an account. You can open an account with $0, but $5 is required to start investing.
- ETFs from up to seven asset classes.
- All of your data is protected with 256-bit encryption and never stored on your phone, tablet, or computer. You can grow your knowledge of financial topics by reading educational content that is integrated in the Acorns app
Acorns is a great way to save, invest, and earn money. When you sign for Acorns, you are basically building wealth with someone else's money. For those struggling to save and looking to start investing for future, Acorns can offer them a great opportunity to save and earn money on an automatic basis.
Ready to get started? Go here to signup with Acorns.
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