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Millennials are generally seen as a generation of people who grew up with the internet and smartphones, therefore they are more tech savvy than any other generation before. With this knowledge, many millennials start wondering how this technology can be used to make investing more accessible and easy. The answer is Acorns.

Acorns was founded in 2012 by two brothers named Jack and Noah Kagan. They wanted to create an app that would allow users to invest their spare change into stocks or bonds without having to worry about fees or minimums.

The company’s first product, Acorn Money, launched on iOS devices in 2013. It allowed people to save money from everyday purchases like coffee at Starbucks or lunch out with friends.

In 2014 the app was renamed “Acorns for Businesses” and it now allows companies to automatically invest a portion of their employees’ paychecks into an investment account that is managed by the firm. The service has been used by more than 1 million businesses since its launch. In 2019, Acorns raised $105M Series E funding round led by Comcast Ventures and NBCUniversal. It has raised a total of $207M in 11 funding rounds according to crunchbase.

What is Acorns?

There are many reasons why you might not be saving enough money. Maybe you’re too busy to make it to the bank, or maybe you can’t afford an extra $5 every week. But what if there was an app or site that would allow you to save any spare change? Meet Acorns – a new service that rounds up the spare change from your credit card purchases and places it in a portfolio of low-fee index funds.

The idea is simple: when you spend money on something with your debit/credit cards (or even online), Acorns will round up those transactions and deposit them into one of their portfolios of ETFs. It’s a great way to save, because it doesn’t cost anything extra — the service takes care of all the heavy lifting for you. You can link as many credit or debit card accounts as you want in order to maximize savings potential.

How does it work?

Acorns is a micro-investing service that actually takes your spare change and invests it for you! Every time you make a purchase with your debit or credit card, Acorns rounds up the purchase to the nearest dollar and invests the difference in an ETF portfolio.

The best part: You don’t even need to do anything except signup and let them take care of everything else. They will automatically invest any money left over from purchases into their investment portfolios every month.

The first step to using Acorns is downloading the app, which is free, by clicking this link

Next, you enter your bank details into the app, and then connect it to your debit card or credit card for withdrawing cash.

Once the information has been updated on both your phone and your bank account, there are two types of accounts you can choose from: a checking account or an investment account. The first thing that I noticed about this app is how easy it was to use. The interface is very simple with just three options at the top – “Add Funds”, “Withdraw Cash”, and “Check Balance”.

Acorns has made investing easy by taking the time to do all the hard work for you.

It offers a variety of personalized investment accounts for users with no previous investing experience. The company offers three different types of accounts: the Acorns Core, the Acorns Later, and the Acoons Plus accounts.

The core account allows investors to set up automatic investments into their chosen stock market index fund or ETFs on a monthly basis. This type of account also provides access to real-time portfolio analytics through its mobile app.

Who can Join

Only United States residents are eligible to join and they must be at least 18 years old with a social security number. Parents or guradians can still open an account on behalf of their children.

There are over 1500 locations in the United States where you can find the Acorns app. However, a major disadvantage is that it does not support different types of bank accounts whether they be credit cards or checking accounts. The Acorns app will soon have a debit card available to their users for spending features. It doesn’t have a cash back feature so if this is what you’re looking for, this will not be the best choice for you.

Shares, Stocks and ETFs

While some people are skeptical of the stock market, it is important to understand how it works. The goal of any investor is to make money on their investments.

Stocks are an option for investors that can be profitable over time with proper research and strategy. Shares, stocks, and ETFs are all different investing options that have their own merits. The stock market is a great way to invest in the future of your company or business.

Stocks allow you to buy into companies at a low price point so they’re more affordable than buying shares directly from the company itself.

ETFs on the other hand can be used for both long-term investments as well as short term trading strategies. They offer exposure to many sectors within an index such as S&P 500, Nasdaq 100, Dow Jones Industrial Average, etc. The main advantage of ETF is that it offers a diversified portfolio with low cost and high liquidity. It also provides investors with more flexibility in terms of timing their investment decisions.

Read also: How to make money with survey junkie

How does Make Money?

Acorns business model is based on charging its members a monthly subscription fee, referral fees from its cashback program, interchange fees, interest earned on cash, and also an annual management fee for accounts above $5,000.


Overall, I think Acorns is a great way for younger people who have been saving from an early age to easily invest without having to manage complicated investments themselves. They are also one of the only companies that offers free investing through their app so you can start small if you want.

If you’re looking for a way to earn some extra cash without having to invest any time or effort into starting a business, then this may be right up your alley! You can signup in just two minutes with email verification and start earning within 24 hours.

When you sign up for Acorns, it is a requirement that you set up a checking and routing account. The way it works is Acorns will take your money and invest it in stocks and bonds. You can also choose to put extra money into an investment called the “Founder’s Portfolio” which has more risk but the potential to earn more.

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