what is acorns app

Acorns App Review – Can you grow an oak tree?

Acorns is revolutionizing the way we save our spare change. It is a fresh new take on dropping your pocket change into a jar at the end of the day. The app rounds up purchases that are linked to your debit or credit card, then the app places these “roundups” in an investment portfolio.

By no means will Acorns make you wealthy or speed up your retirement savings at first but it is a great app for people who struggle to save. You can sign up via this link to receive $5 when you open a new account.

What’s so great about Acorns? Well, let’s dive into this Acorns review and see why it is worth downloading.


Acorns Reviewacorns app reviewed

Name: Acorns

Founders: Walter & Jeff Cruttenden

Fees: $1 per month for accounts over 5k; 0.25% for accounts over 5k

Promotion: Use this link to receive $5 for opening a new account. College students can invest for free up to four years.


Who is Acorns great for?

  • Millienials
  • College students considering no fees for four years
  • People who struggle to save
  • Some who wants to save for a major purpose
  • Short term investing
  • Long-term investing
  • Hands off investors


The benefits of Acorns

Automated approach – Once your account is set up, there is little to no maintenance on your part. You select which investment approach best fits you and then you are done. At any time, you can deposit lump sums of cash into Acorns or if you would rather, you can set a recurring investment of $5,10,15, etc. on a weekly or monthly basis.

Minimum investment – There is no minimum requirement to start with Acorns, but the app does need a $5 investment into one of the five portfolio types to start.

Found Money – When you buy from your favorite retail online, that retailer will make an investment on your behalf, as long as you used the card that is linked to your Acorns account. You simply log into Acorns, go to the retailer you want to shop and when you buy, that retailer will invest in your account within 30-60 days. Retailers will be investing for you.

Acorns has partnered with over 100 major retails and companies who are willing to invest for you. Companies like Apple, Beats by Dre, Airbnb, Zeel, Uber, Hurley, GNC, Fandango, and the list goes on.

Portfolio Types – There are 5 pre-built portfolio types. All you have to do is select which one best suits your investment strategy. Don’t know if you should invest moderately or aggressively? Acorns can help and make a recommendation.

Educational Resources – Acorns is a thought leader and will help anyone who is new to investing or seasoned. The app always has new content about credit card debt, investment types, loans, and all types of financial advice.


The downside of Acorns

Management Fee – You might say that 1 dollar is no big deal but if you for an entire month you only invest 10 dollars, 1 dollar is going to be taken as a fee. That is 10 percent of your monthly deposit. If you invest over 5k, that industry standard is 0.25% so there is no worry there.

If you are going to use Acorns, we suggest trying to use it a way to save money every month. Try to aim to save 50-100 dollars a month as that will dramatically reduce the percentage taken from the dollar fee each month.

Account Options – You only have 1 option for the type of account you set up. That is a personal taxable brokerage account. Hopefully in the future Acorns will roll out other types of accounts for people who age with the platform and want to be able to deduct taxes from capital gains or losses.


Which portfolio is for you?

There are 5 portfolios you can pick from. Acorns will make a suggestion depending on the answers you gave to the questionnaire and the settings.You can always change your investment portfolio from aggressive to moderate or vise versa.








Here are two of the portfolios to give you an idea. We personally like the Moderately Aggressive portfolio. (Moderately Aggressive portfolio is not shown here)


Is Acorns for you?

If you want to make the most out of your spare change, then this is the best app for you. If you also want the occasional investment from retailers when you shop, this is for you.

Acorns makes investing easy and fun. Those who have trouble saving or find investing to be boring will have no problem using Acorns.

You might be shocked how quickly your pennies start to stack. Use this link to receive $5 when you open a new Acorns Account.


  1. I had downloaded the app on time and never used it! So I suppose I will someday but not sure. Thanks for the tips I have wondered though and needed a review to assure myself that this is a good and legit program. Also, that you can of course save some money. Thank you for clarifying though that it is not to ever get rich

    1. It’s worth using. Maybe you have something you want to purchase? Like a major purchase, use acorns to help you save for it.

  2. I have never heard of acorn app. It sounds like it could help a whole lot of people who have trouble saving money out. $1 is not a lot for a month if you are making money back on it. I would love to check out this app and portfolio. Every penny counts when saving money. I use a coffee container and throw all my change in it. After it gets full I take it in and change it for money. Thanks for the review it does help me out.

  3. Kquick; for real. I never heard of Acorn before I read your post. I understand though, that if it involved saving it has to be good. Often time the small coins never leaves the cashier. Small coins never get much respect, they are thrown all about the place. Their value is not accepted maybe because they are small coins it is time consuming counting them. However, it is not a bad idea to have them in a saving. Am I to understand that Acorn is design for onle shopping and also credit and debit cards?

  4. I really have a huge issue with saving money, I just can’t do it! Acorns sound like a great way for me to save up for that dream Holiday I’d been wanting to take for the last twenty Years.
    Also, Do you have to put money in every month or can you skip one?

  5. What a great review of Acorns App. I heard of it earlier this year as it had recently come into the Australian market. I downloaded the app but haven’t linked it to my card and instead just put $5 over every so often. I was a bit wary of getting it to just take money from my account. Do you think it is safe to have it just take from my account without my direct input?

  6. Saving money is a good idea, because you can never know when you’re going to need it. This app seems perfect to start saving some money. But I didn’t really understand the company investment part. How does it work? I mean how do the companies invest in you and what happens when they do it?

    1. When you buy something from one of the partners retailers, that company will send a percentage of that purchase to your acorns account.

  7. What an interesting concept. I had never heard of the Acorn app or indeed the whole concept. You provide a good introduction and it sounds like a good way to slowly generate savings more for the long term.

    Could you provide some more details about the 5 pre-built portfolio types? And also, is it limited to certain countries or regions?

    Thanks in advance,


  8. Hello, I hope you are doing great!

    This was a great inside look at Acorns and it’s use. It was actually one of the first things that inspired me to save/invest, then that fueled a whole;e new fire and since then I have learned all sorts of new investment strategies.

    I encourage anyone reading this to give Acorns a shot!

  9. Hi Kurtis,
    I was just wondering if with Acorn there is any risks; could it happen that they loose the full amount of the investment? do they give details on which kind of financial instruments they will be investing your money? can they be considered as a financial brokers at all?

    1. The different portfolios help determine how risky you are with your investments. If you are worried about risk, then I would suggest a moderate to moderately aggressive portfolio. Acorns does provide details of how each portfolio is broken down in percentage of stock types owned.

  10. I am always looking for ways to invest extra cash lying around. I have heard of acorns but never looked that far into it. Your post informed me on a few things I did not know before like major retailers investing for you when you purchase at their store with the linked card.

    That alone has sold me, thanks for the info! Great and informative post.

  11. I love the article, and I am actually super happy that I came across it. I have been looking at ways to really save my money and put it aside, and this seems like a good platform to do so. The article was pretty thorough and informative.
    One question though – I am currently not living in the US and not a resident there. Currently live in Dubai, and I see that the app does not work here. Are you aware of other apps, similar to Acorn, which is global and can be used anywhere? I would love to get some advice on this as I am really looking for it.

    1. That is a good question. I know there are other investment apps that do round ups, such as Stash, but if they work in your region, I am unsure. 

  12. Hey there,

    I had been told that this system was better way to gather up your spare change into something massive worth I making a profit from.

    But I think their charges have scared me away,it makes them seem like they are targeting big money so that the fees are less, which is what most folks are looking for.

    If they kept the charges at $0.50 for for a dollar I’d have considered.

  13. Wow! I had never heard of Acorn prior to coming across your article!

    It is amazing to see just how spare change can add up! My children have large jars that my hubbie and I always drop our daily spare change into!

    Last time my son cashed his out it was almost $300! It is nice that an app finally exists that applies this same concept!

  14. Hello Kurtis:

    Like most people, I have found it difficult to put money away for the future. Before reading this post, I had never heard of Acorns. You gave me all of the details to help me make a decision. It’s just important that we all do something for our future and do so on a regular basis and then it becomes a habit. Thanks and have a great day.


  15. I’ve never heard of the Acorns app before but it sounds like a great idea for saving towards a big event such as maternity leave. I was just wondering if there is a minimum amount of time that you have to leave your money in before withdrawing? Or if there is a fee for withdrawals?

  16. Thank you for breaking this down. I just downloaded the app to give it a try. I know you recommend the moderately aggressive but since i’m like risk I chose the most aggressive option

    The found money option is a cool feature.

    While the management fee is a little high I think its worth it as this is set it and forget it.

    Thank you again for this review!

  17. I think this is a really valuable tool. As a father of a daughter who finds it terribly hard to save money, I will definitely be advising her of this app and recommending that she joins as soon as possible. Today’s youth are taught nothing at school about becoming successful which is a tragedy. I think this app offers long-term results for a huge portion of the population and is a fantastic idea
    Thanks so much

  18. Wow, I am so glad I came across this review as this app is definitely for me! As of late, I have not been very good with saving money, but this is sure to help me out!

    What really caught my attention the most is when you mentioned getting cash invested from retailers after making a purchase through them. That is a very good way to help consumers save money.

    I think now is definitely the time for me to download this app and start saving because I definitely do not want to go through life walking on eggshells!

    I am all for finding ways to grow your income aside from the typical 9-5 jobs, but I have been spending quite a bit on advertising as of late, without really setting anything aside for the future.

    My question is, if I were making between $100-$200 a week, is there a specific amount that you would recommend I start investing with?

  19. Since I am always on the look for ways to make extra income online, and like what you said “spare change”, this sounds interesting to me. Also, if this things work fine with me, then I’m going to recommend this to my niece who is in college right now but is needing a way to make income as a student.

    Question: Is this available for us here in the Philippines?

    1. Don’t look at it is a way to make money, think of it as a way to save money. I am not sure but I don’t see why it wouldn’t be.

  20. I recently downloaded this app so its funny that I landed here. Good information that I wasn’t really aware of. I kind of just leave the app alone and periodically check it but I see it as a life long benefit. I didn’t know about the fee! don’t recall seeing that on the app.

  21. Hey! I had no idea something like this even existed. I’m American but I’m actually living in Spain and trying to save and invest while overseas is a nightmare. Do you know, however, if something goes badly wrong (like you start losing money) if they will send you a notification or could you possibly set a limit for the most your willing to lose before you cash out? This sounds like a great deal and I’ll definitely look into it further. I appreciate the intro!

  22. Great review on Acorns. There are many apps in the app store similar to Acorns but I find Acorns to be the best at automatic saving. I have the app on my iPhone and without realizing I’ve saved over $500 by just added the change from rounding up to my account. I keep my settings to moderately aggressive to make as much back as I can.

    I totally agree with you, Acorns makes saving extra money and investing super easy.

  23. Hi there, Kurtis. The Acorns App sounds like a good option for people that want to save some money on a regular basis. I especially like some of the Companies Acorns invest in. Can you tell me what the Interest Rate I would get for a deposit of 10K or more?
    Looking forward to your response, Jeff.

  24. Hello Andrew!

    I’ve heard about Acorns App before, but I never bothered downloading it because I thought it was a scam. Well, 1$ is a big fee for 5, but if it earns you more, then it’s fine I guess. Maybe I will try it for saving money as you suggested and tell you what I think about it!

  25. I would appreciate your honest views on the app Acorns. I never had the habit of saving the change. Now I may download the app and use it for savings.
    Further, I would like to know if they pay any interest on the savings and also do retailer charge some interest on the investment.

  26. I remember downloading this app some time ago and I forgot to use it! I will give it a try to see if it’s useful, it not I’ll delete it. After reading your review though, I understand that this is a legit program. I’ve been trying for a long time to find new ways to save money and this helps. It’s a small change but you can’t rely on it to get rich

  27. Hi, Kurtis. Previously reviewing Acorns myself, I can attest to the fact that it is a legit business. Just as long as people who participate in the venture through the site’s app realize that they will never become extravagantly rich in this endeavor, but instead will learn how to save a bit of spare change daily, then all is good.

    I like Acorn’s policy where college students, for four years while they are enrolled in various higher learning educational institutions are not charged the company’s usual investment/membership fees.

    I also agree with you that in the near future the people who run Acorns definitely need to have more than one option for members in choosing the type of accounts that would best serve them in the future regarding money long-term being saved.


  28. I too believe, that if one commits to saving a certain amount, even if its a small amount on a regular basis, then it can add up to a substantial figure at the end of the month.

    I guess the key here is to “commit,” and take some sort of accountability.

    I am glad to read your detailed review of Acorns app. It looks like it can certainly help folks with the accountability part and allow the savings to be done on a regular basis.

    I like the fact they have partnered with some famous brands, many of which I love to do shopping with.

    I am going to give this app a try and let you know how it goes.

  29. Hello Andrew!

    I was on a search hunt for an app that will help me save money and to be honest I’ve never heard of Acorns App before. You are right when it comes to the 1$ fee, but if it earns you even 1,50$ I guess you are a winner. I like your honest review, I’ll definitely give Acorns App a test drive!

  30. It sounds promising but charging a fee of $1 every month looks like instead of You saving You are putting money in to the app is a clever way to make money since many of Us have trouble saving .
    so imagine millions of people download the app A Corns will end up making millions as residual since You pay a monthly fee.
    But Hey there will be people that will actually download just to receive $5 but end up paying more f they stay for a year.

  31. I have never heard of The Acorns app. sounds interest and I appreciate all the information about the app. I do have a hard time saving money and I am going to sit on this information for awhile and make my decision when it gets closer to a year before I am taking my trip to Hawaii. Thank you for the info. and the review on this app. Great post.

  32. This sounds like a very useful app like you said for people that are bad at saving money, or don’t like dealing with spare change.

    I for one personally still like collecting quarters dimes and nickels and putting them in a jar to save. Also this comes in handy for when I need to get snack at the vending machine.

    However the idea of saving a few cents here and there really can add up and is something you probably won’t miss.

    Thanks for this review.

  33. I never heard of this app before. This seems like a good opportunity to earn a little extra money. As a student this is totally relatable. I like how Acorn is partnered with over 100 major companies. Can you say how much a company will invest when you buy a product?

    1. Each company invests a different amount. Some invest an exact dollar amount based on how much you spend. Others will invest a percentage.

  34. Great sharing!
    I have never heard of Acorns App and didn’t know that there is such a fun way to save out there. I like the idea of the investing part where the retailer made an investment on my purchase. Imagine spending but also saving at the same time!
    I am also sold on the idea of not having to manage my savings, and instead have the apps manage it for me.
    Thanks for this information and i will definitely try it very soon.

  35. I’ve been using Acorns for a few months now, and I’m surprised at how fast my account has grown. It was easy to set up, and now I know I am saving for my family’s future. Anybody who hasn’t set up an account yet should really look into getting started.

  36. I’ve been using Acorns for a few months now, and I was surprised at how fast my account has grown. It was easy to set up, and I like how it automatically invests. I feel like a real grown up! Anybody who is thinking about investing should surly look into opening an Acorns account.

  37. I have been using the Acorns app for a couple years now. And I must say that I really like it. I’m one of those that struggles to save. And this app makes it really easy. Now, if it could just tell me that I can’t touch the money, it would be better yet. But that’s on me. Not the app. Haha. Thanks for the review.

  38. Thanks for this information,
    I really love saving but i have never heard of acorn. I remember my bank was offering me something that sounds like this. Could this be the same? Do banks do this as well? Is Acorn existing in the united Kingdom? Is it linked to stores all over the world? And can you sign up from anywhere in the world?

  39. Thanks for an informative post. I have never heard of Acorn so I was particularly interested as it is certainly something that a lot of people need to learn that discipline required to save.

    Is Acorn only available in America or is it an international app? The next question would be, which card accept the acorn app? I would like to know how acorn works that it is able to take a few cents off your card to place in your savings?

  40. Kquick, thanks for the great post! I’ve been doing some research on ways to invest with little money to start and ended up trying out Acorns for myself. I absolutely love it and think anyone reading this should give it a shot.

    At first I wasn’t sure if it was a credible source to place my money, but after research and reading reviews, they are becoming one of the “big guys” in the passive investing space.

    My favorite part is they will deposit money into your Acorns account if you purchase at some of the major retailers by going through their link. This is awesome and I don’t think I’ve seen many other companies like it!

    Thanks for the confirming post!

  41. I have been using Acorns for a couple of years now and love it! It is super easy to use and have never had an issue withdrawing money since I mainly use it as a type of savings account. It is also nice that I can instantly check my account through the app and see the growth that I am getting. Very convenient way to easily save money.

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