Acorns IncomeAnother month, another roundup of how my continuing investment in Acorns is going.  I’m tracking this so that you can see for yourself if this is a smart investment idea.

For those still not familiar,  Acorns is a really simple app that transfers money from your bank account automatically into an investment account.  You can choose what you’d like transferred.  For me, I get it to invest my spare change.  It checks every purchase I make, and rounds up to the nearest dollar.  At that money then gets invested.  For me, I don’t even notice this happening, but every month my investment grows.

How was July?

After the Brexit event of June I was worried that things would decline, but the markets have done the opposite.  It just goes to show that if you have a nobel prize winning economist (like Acorns does) on your team, you can still profit if you have a diverse, sensibly balanced portfolio.  And I don’t even need to do a thing 🙂

Starting Balance: $406.79
Deposits this Month: $82. 86
Ending Balance: $516.72

Income: $27.07

That’s pretty amazing.  But probably it’s not a realistic figure as last month I lost quite a bit of value from Brexit.  But that has all been recovered.  At the moment, all my income is automatically being reinvested back into my account.  But once I build this up i’ll think about taking some out.  But right now there is absolutely no point in doing that.

I didn’t quite deposit my target of $100 per month, but I’ll up my game next month.