Investing With Acorns: Why I Chose Acorns & Am Sticking with It


Investing With Acorns: Why I Chose Acorns & Am Sticking with It

I’m all about saving money.  I’m frugal to a fault sometimes, and it really drives City Spouse insane at times.  He’s more of a spender than I am, that’s for sure.  I’m so much of a “saver” that he accuses me of hoarding money.  LOL

Ok, I do usually have more money than he does or that he knows about, but I’m attempting to help both of us get our credit scores out of the gutter.

I wanted a new way to potentially save even more money.  So I go online and check out some of the online banks and other investment houses.  Yeah- not for me.

Then I ran across Acorns.  It’s like having an investment broker on your phone!!

Acorns is like investing in the stock market, but you get to choose for yourself how you want to invest your money.  I’m sitting at Moderately Conservative right now, but there are other options: Conservative, Moderately Aggressive and Aggressive.  When you set up your Acorns account, they will give you the best option for you based on your personal information.  I was actually recommended to have Conservative, but after looking at the stocks and investments in each category, I changed it (which you can do at any time) to reflect what I want to invest in.

A lot of the investments that Acorns has are very similar to my 401K at work.  One of the investment I’m making in my account right now (14%) is into the Vanguard S&P500.  Holdings in the stock include Apple, Exxon, Google, Microsoft and GE.

Where does your money go?  It’s divided (based on your personal portfolio) into large company stocks, small company stocks, emerging market stocks, real estate stocks, corporate bonds and government bonds.  The percentages and amounts are what you personally choose to invest.

Another great thing about Acorns, is that you can withdraw your money at any time.  With my 401K, I have to prove what it’s for, wait for them to process my loan application (which I still don’t understand why I have to do a loan application to borrow from MYSELF) and then finally get access to the money I need.  Say tomorrow my car breaks down and I need $300 to fix it.  I can go into my Acorns account and withdraw that money without waiting or any hassle.  They understand that it’s my money.  If I want it, I should be able to get it.

But even with all of that, I haven’t yet told you about my favorite part of Acorns.

The Round-Up Account!!

Every time you make a purchase using your linking accounts, Acorns will take the amount (say $4.75) and round it up to the nearest dollar, investing the difference (in this case $0.25).  I love whole dollar amounts in my budget, so I love this feature.  I just write down the rounded up number into my check register and budget, and let Acorns invest the change.  (By the way, this little Acorns function also helps me feel better about saying “No” in line at the store when they ask you repeatedly if you would like to round up for this-or-that charity.)

So, if you have been looking to invest and don’t want to invest a lot up front, or just want to see what can be done with your money, check out Acorns.

I really love my account.


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