Acorns

Throughout college and my first years after graduating, I was getting pretty involved with some stock trading and I came across this app that I’ve really appreciated ever since. The main premise of Acorns is to round up your transactions and invest the change into a pre-diversified portfolio of now up to 11 ETFs, several of which are popular with Vanguard and other big investing firms. In theory, you’d only invest cents at a time, so little that you wouldn’t even notice it missing, but frequently enough that it’d add up to something worthwhile over time. There are similar round-up apps out there that set that money aside in a separate savings account, but this method lets your money make money. Compared to a savings account with a 1% interest rate, there is more risk that your account could decrease in value. But, because it invests in so many different companies, the overall change you’re likely to see is more comparable to way the American economy as a whole changes. This year, we’re considering a record-in-39-years 7% inflation…if my money is growing at that rate, I’d much sooner put it there than in a savings account with 1% interest. When the market finally crashes, as it eventually will do as history always repeats itself, hopefully I’ll be in a position to capitalize on what would otherwise amount to discounted stock prices, and just invest more of my money into this app and others. The easy way to do it is simply to link your credit/debit card(s) to the account so that every time they’re charged, the app rounds up to the next dollar and pulls the difference from whatever bank account you link to it. You can adjust multipliers to how much you round up, or freeze that option if you’re feeling strapped. You can also make manual deposits if you want to pay your future self with part of your tax return or work bonus. You can sell the shares and move the money back into your bank account whenever you like, and it’s all super easy to use. I’ve had people ask me about the safety of this unfamiliar app, and I vouch for it. 256-bit encryption, just like your bank uses. They charge a small $3 fee per month and make their money that way - I’ve been using the app for years and have never had any issues or concerns with leaked passwords, account information, etc. If you’re interested in exploring it more, click my referral link for a bonus or message my instagram with questions!