Acorns Reviews – Is the Personal Finance App for Micro-Investing Worth It?

Acorns is a financial app that helps you save your spare change.

You can use Acorns to invest spare change, bank smarter, and build your financial knowledge within minutes of signing up.

Does Acorns live up to the hype? Is Acorns worth downloading? Keep reading to discover everything you need to know about Acorns today in our review.

What is Acorns?

Acorns is a personal finance app found online. The mobile app is available for iOS and Android, making it easy to invest spare change. You can also get a checking account, retirement account, and savings account for kids through Acorns.

Acorns also offers a way to earn a little extra money, making it easy to save money on purchases you’re already making. They have partnerships with various retailers so that when you shop with them, you get a little extra back.

Every time you make a purchase, you can choose to round up that purchase and contribute the difference to your Acorns savings account. It’s a fast, easy, and effective way to save your spare change.

Acorns investment accounts are priced at $3 to $5 per month, depending on the subscription plan you choose. There’s no account minimum, and you can get started with Acorns in minutes.


Acorns Benefits

Acorns offers many benefits for people who are looking for a different way to bank and invest:

  • Automatic savings tools to help you save spare change
  • No-fee access to thousands of ATMs
  • Multiple low-cost investment options
  • Passive investing solution for hands-off investors of all levels
  • Simple, easy-to-use mobile app
  • Ideal for those who need extra motivation to save more money
  • Easy-to-understand financial education

How Does Acorns Work?

You download the Acorns mobile app for iOS or Android. Then, you connect your payment card to the app.

Whenever you make a payment with a linked card, Acorns rounds up that payment to the nearest dollar.

If you just spent $7.65 on a Big Mac meal at McDonald’s, for example, then Acorns would automatically round up that purchase to $8.00. You see an $8 deduction on your card statement, and Acorns invests the remaining $0.35 into your account.

Once the money is in Acorns, you can choose to invest it however you like. Acorns has a robo-advisor feature that makes it easy to put money into the market at your preferred risk.

Acorns also lets you get incentives or cash back from some retailers. Acorns has partnered with 350+ retailers, allowing you to earn more by spending more.

Acorns Products & Services

Acorns offers several products and services. For example, you can round up your spare change and invest it automatically using Acorns Investing. Or, you can access individual retirement accounts (IRAs) or buy cryptocurrency futures through Acorns, among other products and services.

Here are some of the products and services available through Acorns:

Acorns Investing – For General Investors and Savers

Acorns Investing lets you invest your spare change into automatically monitored accounts, then track your performance over time. Acorns rounds up your spending on connected payment cards, then automatically deposits that money based on your pre-selected investment options.

Acorns Investing comes with features like:

Invest Spare Change Via Round-Ups: Acorns makes it easy to automatically invest your spare change from everyday purchases. You connect a payment card to Acorns, and Acorns rounds up your spare change from each payment with that payment card. Acorns deposits that money into one of its diversified ETF portfolios, built by experts with different investment goals, risk tolerances, and horizons.

Diversified Portfolios by Experts: Acorns offers diversified portfolios built by experts, allowing you to invest based on short-term or long-term money goals. Answer a few questions from Acorns to complete your investor profile, and Acorns will match you to the ideal diversified portfolio for your unique needs.

Portfolio Rebalancing: Acorns’ experts rebalance portfolios using automated tools, making it easier for your money to grow without thinking about it. Instead of needing to manually rebalance your account, you enjoy smarter investing.

Recurring Investments: Acorns offers Recurring Investments, allowing you to deposit a small amount of money each day, week, or month while enjoying the benefits of dollar-cost averaging. Acorns will invest your pre-selected amount into the fund you wish, and you buy a stake regardless of current price levels. If you want to even out your investment irrespective of market conditions, then Acorns’ Recurring Investments option may be the right choice.

Education: Acorns offers financial literacy content within the app. This financial literacy content is powered by CNBC and is designed to “grow your oak,” empowering investors to make smarter decisions.

Earn Rewards: Acorns partners with 12,000+ brands to offer incentives to consumers, allowing you to earn extra rewards when shopping at participating retailers. You can also get bonus offers, helping you save and invest more money. Acorns even has a Jobs Finder within the app, letting you search through millions of jobs.

Acorns Later – For Retirement Savings

Acorns offers its Acorns Later service, giving you an easy and automated way to save money for retirement. Some of the key features of Acorns include:

  • Answer a few questions and get an IRA that’s right for you within minutes
  • Set up recurring contributions, allowing you to contribute money regularly and forget about it
  • Get complete investing and savings tools for just $3 per month
  • Put your extra cash to work for you for as little as $5 per time, making it easy to slowly (or quickly) save for retirement
  • After completing Acorns’ quiz, Acorns recommends the right investment account for you. Acorns will also update this recommendation regularly based on your goals.
  • Acorns may recommend a Roth IRA, Traditional IRA, or SEP-IRA, for example. Then, you invest money through Acorns to add to your retirement savings, diversifying into Acorns’ recommended basket of ETFs.

Acorns Earn – Get Cashbacks and Rewards, Then Automatically Invest Them

Acorns lets you earn money by shopping at selected retailers through its Acorns Earn tool—the company partners with 350+ brands, giving you cashback on eligible purchases made with Acorns-connected cards.

Some of the 350+ brands available include Apple, Blue Apron, Chevron, Chewy, Hotels.com, Kohl’s, Macy’s, Old Navy, Nike, Sam’s Club, Walmart, and Walgreens.

You can also earn money by adding a Chrome extension to your browser. When you’re browsing an affiliated retailer, you’ll see an “Activate Offer” button. You can activate the offer to invest 0.6% of your Walmart.com purchase into your Acorns investment accounts.

You can also search for jobs through Acorns Earn (the platform has a jobs list with millions of postings). Or, you can earn money by referring friends to the forum.

Acorns Early – Open an Investment Accounts for Kids

In under three minutes, Acorns Early lets you open an investment account for kids. It’s included with the Acorns Family plan.

Some of the key features of Acorns Early include:

  • Get Acorns Early and Acorns’ full financial wellness system (including investment, retirement, and checking account services) with a single $5 per month Family plan
  • Grow financial knowledge together with Acorns’ financial literacy content
  • Set it and forget it by investing a specific amount every day, week, or month (starting at as little as $5 per deposit)
  • Open a UTMA/UGMA account where you can use funds for anything that benefits the child and easily transfer those funds as the child grows.
  • Get accounts for multiple kids per family at no added cost per child
  • Enjoy tax advantages as you invest

The earlier you start a savings account for your child, the more your Acorns Early account can grow. These accounts are designed to be opened when the child is young, continue growing as the child gets older, and deliver returns when they need the money.

Acorns Early is a UTMA/UGMA account, which is different from a 529 account. A 529 account can only be used for education, while a UTMA/UGMA account can be used for anything that benefits the child. The UTMA/UGMA account can be transferred to the child at their “age of transfer,” which is generally their age of adulthood (which varies from place to place).

Acorns Checking

Acorns also offers straightforward banking and checking services. With Acorns Checking, you can manage your checking, investing, and retirement accounts from a single app.

  • Key features of the Acorns Checking service include:
  • Manage your Acorns personal checking, investment, and retirement accounts from a single app or platform
  • Enjoy a heavy metal debit card with a matte green finish and a custom-engraved signature
  • All-digital banking, including direct deposit, mobile check deposits and sending, and more
  • FDIC-insured bank (via Lincoln Savings Bank) with coverage up to $250,000 along with fraud protection and an all-digital card lock
  • Instantly invest spare change and save while enjoying no hidden fees at 55,000+ fee-free ATMs across the United States and around the world.
  • Use built-in Smart Deposit functionality to automatically invest money before you spend it, then get paid up to 2 days early for direct deposit.
  • You can get an Acorns Visa Debit Card for your Acorns Checking account. The Acorns Personal ($3 Per Month) and Family ($5 Per Month) plan both include Acorns Checking.

Acorns Bits of Bitcoin – Allocate Up to 5% of Your Investments Towards a Bitcoin-Linked ETF

Many investors use cryptocurrency to diversify their portfolios. Acorns just launched a new service called “Bits of Bitcoin” that lets you add bitcoin to your Acorns investment portfolio.

With Acorns’ Bits of Bitcoin, you can allocate up to 5% of your investments towards a bitcoin-linked ETF, helping diversify your long-term portfolio.

For example, instead of only investing in stocks and bonds, you can allocate 5% of your spare change towards digital currency.

Here’s how the Acorns Bits of Bitcoin option works:

  • Acorns uses the ProShares Bitcoin Strategy (BITO) to invest in bitcoin futures instead of directly buying bitcoin
  • Just like stock market futures, bitcoin futures give you exposure to bitcoin by investing in the potential future value of bitcoin without requiring you to physically own the cryptocurrency.
  • Acorns users can invest up to 5% of their Acorns Invest portfolio into a bitcoin-linked ETF; Acorns may recommend different percentages based on your age, income, and money goals.
  • If your risk level is Conservative, for example, then Acorns may recommend just a 1% allocation into bitcoin; if you invest $100 per month into Acorns through a Recurring Investment, for example, then $1 of your investments would go towards the bitcoin futures ETF
  • Higher-risk investors could receive recommendations of 2%, 3%, 4%, or 5%, based on their risk tolerance and investment horizon.

Acorns was motivated to add bitcoin to their platform to help users diversify. Acorns believes bitcoin tends to have a low correlation with stocks. If stocks and bonds go down, then bitcoin usually goes up. In users’ interests, Acorns wanted to add bitcoin to further diversify portfolios and help users weather market bumps.

How to Choose an Acorns Portfolio

Acorns offers several portfolios based on each investor’s risk tolerance and investment timeline. Experts curate portfolios to match different needs.

Each Acorns portfolio includes stocks, bonds, and other assets. You buy an Acorns ETF that holds these assets. You can also buy a mix of ETFs to diversify your investments further.

Some Acorns ETFs replicate an asset class or index – like the S&P 500 or Dow Jones Industrial Average.

Others represent specific bonds or stocks – like the Acorns Bonds ETF or the Large Companies ETF.

When you invest with Acorns, your money is automatically diversified into ETFs that include more than 7,000 stocks and bonds. Acorns uses fractional share ownership in its portfolio ETFs, allowing you to buy a fraction of a share regardless of the amount you’re investing. Instead of needing to pay $900 for one share of Tesla, you can buy a fractional share for $1.

Acorns does not manage its own ETFs; instead, the company invests your money into some of the world’s largest and best-known ETFs, including the Vanguard S&P 500 (VOO), the iShares Core MSCI International Stock (IXUS), the iShares Core S&P 500 Mid-Cap (IJH), and the iShares Core S&P 500 Small-Cap (IJR), among other well-known ETFs.

These ETFs are well-established and have low management expense ratios.

Acorns Investment Profile Sample

After completing a quiz through Acorns, you might get a sample investment profile recommendation.

Acorns asks questions about your risk tolerance and investment timeframe, for example, along with your goals. Acorns also asks about your age, net worth, and income. Finally, Acorns asks when you need to access the funds.

Based on your responses, Acorns might assign a profile like:

  • 45% to large American companies through the Vanguard S&P 500 ETF (VOO)
  • 35% to reputable bonds through the iShares Core US Aggregate Bond ETF (AGG)
  • 10% to small-cap stocks through the iShares Core S&P 500 Small-Cap (IJR)
  • 10% to international stocks through the iShares Core MSCI International Stock (IXUS)

You can adjust your responses to change your profile. If Acorns recommends a portfolio consisting entirely of stocks, for example, then you may want to add bonds to balance that risk.

Acorns Pricing

Acorns offers two membership tiers, including Personal ($3 per month) and Family ($5 per month).

Overall, Acorns fees seem cheap compared to competitors, and they are cheap if you’re investing large amounts. However, if you do the math, competing platforms may offer cheaper memberships overall, especially for smaller investors:

Personal ($3 Per Month): All-in-one investment, retirement, and checking, plus a metal debit card and other bonuses

Includes Acorns Invest, Acorns Later, and Acorns Banking

Family ($5 Per Month): Everything in Acorns PERsonal plus investment accounts for kids, including personal investment accounts, retirement accounts, checking accounts, and exclusive offers and content.

Includes Acorns Invest, Acorns Later, Acorns Banking, and Acorns Early

About Acorns

Acorns is a personal finance app led by Noah Kerner (Chief Executive Officer).

The company is backed by some of the biggest and best-known investors, board members, and advisors in the world, including two Nobel Prize-winning economists.

Key investors in Acorns include PayPal, BlackRock, Bain Capital, DST Global, NBCUniversal, and Comcast Ventures.

Acorns has an initiative to plant thousands of oak trees each year to help fight climate change. The company partners with One Tree Planted to plant oaks across America, helping to restore areas affected by forest fires and floods. Since 2019, Acorns has planted 723,274 trees.

Final Word

Acorns is a personal finance app offering a full suite of financial services.

You can use Acorns to open a checking account, investment account, retirement account, and personal savings account. You can also order a debit card, open savings accounts for children, and enjoy other perks.

To learn more about Acorns or to download the app today for iOS or Android, visit the official website by clicking here! >>>


Affiliate Disclosure:

The links contained in this product review may result in a small commission if you opt to purchase the product recommended at no additional cost to you. This goes towards supporting our research and editorial team. Please know we only recommend high-quality products.


Please understand that any advice or guidelines revealed here are not even remotely substitutes for sound medical or financial advice from a licensed healthcare provider or certified financial advisor. Make sure to consult with a professional physician or financial consultant before making any purchasing decision if you use medications or have concerns following the review details shared above. Individual results may vary and are not guaranteed as the statements regarding these products have not been evaluated by the Food and Drug Administration or Health Canada. The efficacy of these products has not been confirmed by FDA, or Health Canada approved research. These products are not intended to diagnose, treat, cure or prevent any disease and do not provide any kind of get-rich money scheme. Reviewer is not responsible for pricing inaccuracies. Check product sales page for final prices.

The news and editorial staff of Sound Publishing, Inc. had no role in the preparation of this post. The views and opinions expressed in this sponsored post are those of the advertiser and do not reflect those of Sound Publishing, Inc.

Sound Publishing, Inc. does not accept liability for any loss or damages caused by the use of any products, nor do we endorse any products posted in our Marketplace.