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This is a great way to start saving money for big or little goals. Acorns rounds up your purchases from any accounts you link and automatically invests them for you. While it seems like small amounts they can add up at 40¢ here and 60¢ there. You don’t need to know anything about investing, they will ask a few questions and automatically set you up on an investment plan.
I started an account 2 months ago and already have $121 in it! This is from round ups on purchases, plus each week I put $10 in. I’ve also earned $5.51 in stock market earnings!! That’s more than my bank savings account would make all year!
You can do weekly or monthly investments starting at $5 a month if you want to put a little bit more in savings (this isn’t required). I love the weekly investments because they feel small and doable and really add up! I have mine set to $10 a week which is an extra $520 a year in savings.
Acorns does have a fee of $1 to $3 per month. For basic accounts the $1 plan is perfect. You will get all the features you want and get a great start on building up your savings. If you want to start an IRA retirement account that is the $3 plan.
To put the cost into perspective, with the $1 plan you are paying $12 a year and getting weekly investments at no additional cost. That’s a crazy good price for stock market investments! Plus with a $5 bonus it makes the first 5 months free!
Save Even More:
When you sign up they will have you link one account. After you finish, log into your account and link any other accounts you use regularly. You can link checking accounts, and credit cards.