Is Acorn Worth It?

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A single word that many of us lack. It’s challenging to save money mainly when you live paycheck to paycheck. It’s harder if you’re drowning in a spiral of debts.

That’s the reason why I love and encourage many individuals to use Acorns.

Of course, not everyone heard of Acorns. Acorns is a new investment app that lets people automatically invest spare change from debit and credit card purchases.

I started my investment with Acorns roughly six months ago since I had a difficult time saving money particularly with so many bills and obligations being shoved up my as-.

So, I did something everyone would do which is to leap onto Google with the iconic catchphrase “How to Save Money.” After reading a few articles, I happened to stumble upon Acorns.

What is Acorn?

Acorns encourage users to invest their spare change from debit and credit purchases with simples round-ups which meant that the spare change would be invested into Acorns. For example, if you spent $1.45 then it will round up to $2.00 where 55 cents will be invested into Acorns automatically.  When your Round-Ups hit $5 and more, they’ll be funded.

Acorns do invest your money into specific corporations, but it does not control the amount of money invested. There are also recurring investments, one-time investments, Found Money, and lastly referrals.

Recurring Investments is when you settle for a time investment which you schedule.

One time investment speaks for itself – when you have a little extra money, why not invest it?

Found Money is when you spent your money on a certain corporation that contract with Acorns. The money rolling into your account may vary.

Referrals are when you pull in a friend or someone you know with the code Acorns made just for you.

How to Get Started With Acorns

When you sign up, Acorns will ask questions to determine the investing for your situation, which can always be changed. Acorns also give you projections on how your savings could grow depending on your investments.

What I enjoy most about Acorns is that you can withdraw your money anytime without conflict -particularly if you do not enjoy using Acorns.  Withdrawals take 5-7 business days (which are Monday to Friday) to get to your checking account due to the mandatory 2-day settlement period. The Securities and Exchange Commission (SEC) determined that within that time frame will be when buying or selling shares in Exchange Traded Funds (ETFs) occurred.

How to Use Acorns

You can view and set up your account online and app. I prefer to use the app version because it’s easier to navigate and more available. You can log in with a fingerprint or a code, but I use print – probably forgot what my password is by now.

From the dashboard, you can view your balance, invest, view your Round-Ups, observe the performance of your investments, see your Found Money, read articles about Acorns, invite friends, withdraw your money, and view/change your settings.

How I Use Acorns

Acorns selling point is investing your spare change through round-ups, which is something I use. Additionally, I invested $5 per week into Acorns since I get paid weekly. Since I am a recent graduate, I cannot invest much more than that since I need the money for bills and debts.

How You Use Acorns

I won’t force you to use Acorns, but I suggest giving it a shot. I cannot write much here since you most likely haven’t use Acorns yet!

I suggest giving it a shot!

Happy Saving!