If you struggle to save enough money to put in investments, the Acorns app for web and mobile can help. By “rounding up” purchases you make every day, from coffee to lunch to groceries, it lets you invest money without thinking about it or noticing a difference in lifestyle. They also offer a Found Money feature that automatically rewards you for certain purchases you make. I’ll explain these features in more detail below.

Earn a $5 bonus when you sign up for Acorns and invest $10.They also regularly offer the opportunity to earn more in bonuses through referrals. The current one (October 2018) is a $100,000 pot split among everyone who refers just 5 people who sign up and invest. In August, the offer was a $1000 reward for referring 12 people, and in September you could earn a $500 bonus for referring 5 people. Team up with your friends and this app can get pretty lucrative!

Now, let’s get into a review of Acorns features.


Acorns App Round-Up Investing


The Acorns “round-ups” feature basically enables you to invest spare change. How does Acorns round-up investing work? When you make a purchase using a linked debit or credit card, Acorns will literally round that up to the nearest dollar, and invest the extra. Buy a coffee for $2.25, the app rounds it up to $3, and then you’ve invested 75 cents without even noticing.

Acorns roundups screen

According to Acorns, this typically adds up to about $32/month. That’s $384 a year you can save without worrying about it or feeling like you’re sacrificing. Some people love saving and being hands-on with their investments, which is great. But for anyone who hates thinking about saving money, this offers a simple opportunity to start growing your net worth.


Scheduled or One-Time Acorns Investments


Round-up investing isn’t the only way to use Acorns. If you prefer to invest a certain amount every week or every paycheck, you can just set up a recurring investment to contribute that amount automatically.

Acorns recurring investments screen

Or, if you’ve just gotten some extra cash like from a tax return or your side hustle, you can make a one-time investment whenever you want.


Acorns Found Money

Acorns found money screen

One more feature that makes Acorns app worth getting is called “Found Money.”

With Found Money, you can make a purchase like normal with any cards linked to your Acorns account. If the purchase is at an Acorns partner, a percentage of what you spend will be invested back into your Acorns account for free!

At time of writing, they have about 200 partners, including Apple, Groupon, Samsung, Zappos, Discount Glasses, Land’s End, and more. Even certain types of Amazon products are eligible.


Acorns Fees


The Acorns app has a $1/month fee on balances up to $1,000,000. This fee is waived for college students. Now, note that the smaller a balance you have in your account, the larger percentage $1/month will be for you. For instance, if you only have $10 in the account, $1 is essentially a 10% fee. But once you get to $100, it’s only 1%. Essentially, the more you invest, the smaller the fee is proportionally, which can be another source of motivation for you to continue saving!

Also, if the Found Money feature earns you at least $1 per month, then Acorn investing will pay for itself.

Acorns is a great spare change app to help you make investing an automatic part of your life. Sign up now to get your free $5 and a shot at the $1,000 bonus!

Want more ideas on how to invest? Check out my full article on how to invest without being a stock market expert.