## What is Acorns?
Acorns is an investing app that helps you invest spare change and build wealth over time. It’s a great way to get started with investing, even if you don’t have a lot of money or experience.
Acorns works by rounding up your purchases to the nearest dollar and investing the difference. So, if you buy a coffee for $2.50, Acorns will round up the purchase to $3.00 and invest the extra $0.50.
You can choose to invest your spare change in a variety of different investment portfolios, from conservative to aggressive. Acorns also offers a number of other features, such as automatic investing, goal setting, and financial advice.
## How to get started with Acorns
Getting started with Acorns is easy. Just download the app and create an account. You’ll need to provide some basic information, such as your name, email address, and birthdate.
Once you’ve created an account, you can link your bank account to Acorns. Acorns will then automatically round up your purchases and invest the difference.
You can choose to invest your spare change in one of five different investment portfolios:
* **Conservative:** This portfolio is designed for investors who are looking for a low-risk option. It invests primarily in bonds and other fixed-income securities.
* **Moderate:** This portfolio is designed for investors who are looking for a balanced approach to investing. It invests in a mix of stocks, bonds, and other assets.
* **Aggressive:** This portfolio is designed for investors who are looking for a high-growth option. It invests primarily in stocks.
* **Custom:** This portfolio allows you to choose the specific investments that you want to invest in.
## How much does Acorns cost?
Acorns charges a monthly fee of $1 for accounts with a balance of less than $5,000. There is no fee for accounts with a balance of $5,000 or more.
## Is Acorns a good investment?
Acorns is a good investment for beginners who are looking for a simple and affordable way to get started with investing. It’s also a good option for investors who want to automate their investing.
However, it’s important to keep in mind that Acorns is not a get-rich-quick scheme. It takes time to build wealth through investing. If you’re looking for a quick way to make money, Acorns is not the right option for you.
## How to make the most of Acorns
Here are a few tips to help you make the most of Acorns:
* **Set up automatic investing.** This will ensure that you’re investing regularly, even if you forget.
* **Increase your savings rate.** The more money you save, the more money you’ll invest.
* **Invest for the long term.** Don’t try to time the market. Just invest for the long term and let your money grow.
## Conclusion
Acorns is a great way to get started with investing. It’s simple, affordable, and can help you build wealth over time. If you’re looking for an easy way to start investing, Acorns is a great option.