5. Acorns review

Acorns Unique Products

  • Acorns Round-Up
  • Acorns Spend
  • Acorns Early
  • Acorns Earn

Acorns Round-Up Feature

For each credit card transaction, Acorns rounds up to the nearest dollar and invests it into an Acorns account.

The Round-Up transfers come from monitoring your linked account and rounding up the purchases to the nearest dollar.

Acorns - Round Ups

For example, I spent $22.43 at the gas station this week. That amount was rounded up to $23, and the extra 57 cents were added to my Acorns Round-Up balance. Once the Round-Up balance reaches $5, the money will be withdrawn from my bank account and added to my Acorns investment.

You can choose which transactions you want to include in your Round-Up amount or set it to “automatic,” in which case Acorns will apply the feature to all eligible purchases.

However, you can also use Round-Up Multipliers to boost your extra investment by two, three, or 10 times. So instead of pitching in just those 57 cents from my gas station purchase, I can elect to invest as much as $5.70 for that transaction automatically. The potential to magnify the savings is enormous.

Additionally, you can deposit cash reward bonuses from your bank or other rewards programs you currently have. Or you can choose to invest lump-sum amounts in addition to your Round-Up deposits. You can set up recurring deposits on a daily, weekly, or monthly schedule if you prefer.

Leave a Reply

Your email address will not be published. Required fields are marked *