Why I Love The Acorns App – Change Of Mindset

I definitely delayed too long when I first heard about Acorns.  No, not the nuts!  If you haven’t heard of the Acorns app, it’s a mobile app that’s designed to link to your debit/credit cards.  For every purchase or transaction it rounds up to the nearest dollar.  That change difference gets invested into index funds!

Why Do I Love The Acorns App So Much?

Dreamt of it

I’ve wanted an app like this since I’ve owned my own debit card.  If I had acted on my thoughts, I’d have invented Acorns instead!  It rounds up change and invests it for you!

dreaming of acorns

Mobile Interface

The interface is super easy to use.  Nice and clean and easy to navigate.  

Multiplied Rounding

You can change your investment multiplier.  So that 30 cents rounded can be X2 or X3 so 60 cents or 90 cents instead!  This can help boost your savings and investments.

acorns app multiplier

Scheduled Deposits

You’re able to schedule weekly deposits as well.  So on top of the rounding and the multipliers you can stay consistent on the investing.

acorns weekly investment

Found Money

They offer a “found money” feature.  It allows you to use different websites and get a % back and invested into your account.  Sites people actually use like Amazon!  Not to mention Airbnb, Hotels.com, Uber, T-Mobile, and tons more!

acorns found money feature

Referral Bonus

Acorns offers up $5 referrals for each person you refer and signs up.  Even more if you get multiple people to sign up!

acorn friends referral

Honestly, I don’t know how you can go wrong here.  If you’re in college or high school this app should be a must, but there is no age limit to this financial tool!  Well, you have to be at least 18, but it’s all up from there!  Assuming an individual leaves their funds alone they’re going to quickly realize the benefits of investing over time.  Likely much sooner than the average person.

Staying Ahead Of The Game

If you’re like me you didn’t start investing until you started your career after college.  I had a job for years before that where I could have put money away in investments.  Acorn let’s you do this instead of waiting until your employer finally offers you a 401k plan!

Easy Peasy Lemon Squeezy

Plus, I don’t think you could have made it any easier.  It’s such a passive investment and completely automated.  Once it’s set up there is nothing more for you to do besides log into your account once in a while and see how much you’ve saved with your spare change!

Is It Free?

Obviously, I’m a super fan.  This app just makes so much sense to me.  Can you tell I just really love the product?  Of course it’s not completely free.  They do charge $1 a month, but I think it’s negligible for someone interested in saving who doesn’t have a ton of money to put into a Vanguard or Robo-Advisor account.  This gets the ball rolling.  Anything over $5000 and they charge a .25% fee structure similar to other products.  Let those acorns keep falling!

Check out my FIRE Toolbox to see all the financial tools I use!

What are your thoughts?  Have you used Acorns?

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