# Acorns Investing App Review: A Comprehensive Guide
Are you looking for an easy and effective way to start investing? If so, you might want to consider using the Acorns investing app. In this blog, we’ll provide you with a comprehensive review of the Acorns app, including its features, pros, and cons.
## What is the Acorns Investing App?
Acorns is a micro-investing app that allows you to invest your spare change automatically. The app works by linking your credit or debit card to your Acorns account. Every time you make a purchase with your linked card, Acorns rounds up the transaction to the nearest dollar and invests the spare change in a portfolio of exchange-traded funds (ETFs).
## How Does Acorns Work?
Here’s a step-by-step guide on how to use the Acorns app:
1. Download the Acorns app from the App Store or Google Play Store.
2. Sign up for an account and link your credit or debit card.
3. Choose an investment portfolio based on your financial goals and risk tolerance.
4. Start making purchases with your linked card.
5. Acorns will round up your transactions to the nearest dollar and invest the spare change automatically.
6. Monitor your investment performance and make adjustments to your portfolio as needed.
## Acorns Features
Here are some of the key features of the Acorns app:
– Automatic round-ups: Acorns automatically rounds up your transactions to the nearest dollar and invests the spare change for you.
– Recurring investments: You can set up recurring investments to add more money to your portfolio on a regular basis.
– Found Money: Acorns has a feature called Found Money that allows you to earn cash back when you shop with Acorns’ partner brands.
– Portfolio management: Acorns manages your investment portfolio for you based on your financial goals and risk tolerance.
– Investment education: Acorns provides educational content to help you learn more about investing and make informed investment decisions.
## Acorns Pros
Here are some of the benefits of using the Acorns app:
– Easy to use: The app is user-friendly and easy to navigate.
– Automatic investing: Acorns makes investing effortless by automatically investing your spare change and allowing you to set up recurring investments.
– Low fees: Acorns charges a low monthly fee of $1 for accounts with less than $1 million invested.
– Diversified portfolio: Acorns invests your money in a diversified portfolio of ETFs, which helps reduce risk.
– Found Money: The Found Money feature allows you to earn cash back when you shop with Acorns’ partner brands, which can help boost your investment returns.
## Acorns Cons
Here are some of the drawbacks of using the Acorns app:
– Limited investment options: Acorns only offers a limited number of investment portfolios, which may not be suitable for all investors.
– Small investment amounts: If you don’t make many purchases with your linked card, your spare change may not add up to much.
– Monthly fee: While the monthly fee is low, it can add up over time, especially for smaller accounts.
## FAQs
Here are some frequently asked questions about the Acorns app:
**1. Is Acorns safe?**
Yes, Acorns is a safe and secure app. It uses bank-level security and encryption to protect your personal and financial information.
**2. How much does Acorns cost?**
Acorns charges a monthly fee of $1 for accounts with less than $1 million invested. For accounts with more than $1 million invested, the fee is 0.25% per year.
**3. Can I withdraw my money from Acorns at any time?**
Yes, you can withdraw your money from Acorns at any time. However, it may take a few days for your funds to be transferred to your bank account.
## Conclusion
Overall, the Acorns investing app is a great option for beginner investors who want to start investing without a lot of effort. With its automatic round-ups, low fees, and diversified portfolio, Acorns makes it easy to start investing and grow your wealth over time. However, it’s important to consider the app’s limitations, such as its small investment amounts and limited investment options, before deciding if it’s the right choice for you.