Acorns Review- investment app for beginnersAcorns Review- investment app for beginners

Acorns Review 2023: An Investment App For Beginners

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When it comes to creating different passive income sources, you could first think of putting your money into the investment app, which allows you to grow your money and achieve your financial goals in the long run.

One of the best investment apps is the Acorns app, which has widely used in the market. Over 8 million members.

This investment platform helps members find ways to save money by creating a budget but also allows them to invest their spare change and grow their portfolio over time.

For example, the micro-investing app will automate your investing by automatically investing your change in a diversified investment portfolio, which you could plan for your retirement or your kid’s future.

In this post, we will dive deeper into understanding Acorns, which gives you further information about the platform’s features, how it works, and its pros and cons. Thus, you would be able to make a better decision about whether give it a try or not.

Key Takeaways

  • Acorns are one of the best investment apps for beginners that has over 8 million members on the platform.
  • This investing app is an ideal solution for those who want to save and invest their spare change for future retirement or long-term financial goal- investing for beginners
  • The round-up feature helps members invest their change toward an investment portfolio once the account balance has at least $5.
  • It is free to open an account with Acorns, but you would need to pay service fees. There are two main subscription plans that are for personal and family use.
  • Members can use this investing app to invest in their kid’s education in the future.

Here are additional reading resources you should consider reading next:

> Best Budget Apps to Save Money

> Best Investment Apps For Beginners

> Personal Capital Review: Is It The Best Free Budget App?

1. What is Acorns?

Acorns investment apps

Acorns is a financial services firm that specializes in micro-investing and banking, the firm was founded in 2012 in California, the US.

At the time of writing, Acorns has over 8 million members that are currently using the platform to invest for different purposes. It also has over 3 billion assets that are under management.

By saving and investing your spare change, you would be able to invest as little money as $5 or $10 to a diversified investment portfolio such as ETFs and other index funds. Over time, these small changes can do a big thing to help you reach your money goals over a long period of time.

Significantly, the board members of Acorns decided to IPO the firm with a market valuation of around $2 billion in 2021, which marked a big milestone for the firm’s further development since its establishment.

Since then, this saving and investing app has added additional features like Bitcoin ETF, which create much more convenient for users to diversify their investment portfolio.

2. How does Acorns work?

Acorns will suit best those who want to save and invest their money into the investment portfolio, which helps them to achieve their financial goals in the future.

In particular, members only need to use their change saved for every time that they make a transaction using a debit, credit or check account, the platform will round up to the nearest dollar and then put it aside on your Acorns account.

With the Round-up feature, the Acorns app will automatically invest your money once your account reached $5 by investing a diversified portfolio of ETF or index funds.

For example, if you purchase food or drink at the gas station for $3.20, then Acorns may take 80 cents and put it in your account.

In addition, users would be able to set a recurring investment feature on this investing app, which enables them to invest $10 per day or $100 per month as it is up to their investment goal and expectation.

After creating an account with Acorns, the platform will give users recommendations on building up their investment portfolio based on their profile, investment goals, and their answer questions.

Keep in mind that the suggestion also depends on the level of risk tolerance of the users.

In terms of your asset allocation, Acorns will invest members’ money into different exchange-traded funds (ETFs), which range from stocks and bonds.

⇒ Get 10$ bonus when you sign up for Acorns

For those who plan to invest in Bitcoin ETFs, Acorns allow members to invest up to 5% of their total investment into Bitcoin ETFs, which helps diversify their investment and achieve long-term financial goals ( According to Reuters).

3. Is Acorns free?

It is free to open an account with Acorns, but you would need to pay service fees. There are two main subscription plans that are for personal and family use:

  • Personal: the price is $3 for personal use and it will round up your money by saving and investing your spare change once your account has $5 as a balance. Members can access retirement plans, checking, and much more.
  • Family: the price is $5 as it will include the Acorns early ( invest for your kid), which members can save money for their kid’s future. The plan also covers all the benefits of personal investment, retirement, and expert advice.

Keep in mind that the Acorns early is an added benefit, which parents can plan for their kid’s education. As a UTMA/UGMA account, you can save and invest in spare change and use it to fund your child’s education once they grow up.

You could also consider CollegeBacker as an alternative to save and invest for your kid’s future, which allows setting 529 tax-free college savings.

4. Acorns earning program

With Acorns earning program, it is similar to a get cash back program that allows members to shop online at over 350 brands like Airbnb, Apple, Nike, Walmart, etc, and earn extra cash for their shopping.

Every time you use the Acorns referral link to purchase online at one of the retailers like Walmart, then you will receive a cashback reward that directly transfers to your Acorns investment account.

Keep in mind that you could receive a bonus investment reward within 60 or 120 days as it also depends on how the retailers’ policy to release the bonus fund.

5. How to sign up?

The process of creating a new account with Acorns is very straightforward. You first need to go to the Acorns website and enter your email address.

After confirming your email address, fill out personal information like a bank account, and answer questions to let the firm experts understand your financial goals and expectation.

6. Acorns pros and cons

The following are Acorns pros and cons, which you would consider whether this investing app is the right one for you to save and invest in the future.


  • A micro-investing app for beginners who can invest as little money as possible, at least $5.
  • Great for saving and investing over a long period of time.
  • Automatically invest your change over time.
  • Earn bonus investment for shopping online


  • There is a subscription fee for personal and family use.
  • Limited investment options.

7. Final Thoughts

Acorns is a great investing app for beginners due to the fact that it has over 8 million members on the platform. It would be an ideal solution for those who want to save and invest their spare change for the long term and achieve financial goals.

One of the great features of Acorns is the round-up, which automatically invests your change once your account reached $5.

In addition, members can set a recurring investment for as little as 5$ per day or $100 per month as it depending on their investment goals.

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By Jiro Nguyen.

The content is only based on the author’s personal opinion and experience. It is for informational purposes only and does not rely on as a comprehensive or substitute for professional advice.


Is Acorns worth it?

Acorns is one of the best investment apps that not only helps users to save and invest their spare change, but it also helps to earn bonus investments as cashback for shopping. It's worth trying and grow your investment portfolio.

is Acorns a free investment app?

It is free to open an account with Acorns, but you need to pay for membership fees.

Is Acorns offer any cashback rewards?

The Acorns investing app also offers an additional benefit for members by giving them a cashback reward, which will be funded to your Acorns account.

Are Acorns legit?

Yes, Acorns is a legitimate financial services firm that has over 8 million members on the platform.


By Jiro Nguyen

Jiro Nguyen is a highly driven and skilled business management professional with an MBA in economics and management. He is also the founder of Moreover, he has a passion for writing and over 4 years of copywriting experience.

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