Last month I wrote about how I had started using the micro-investment app Acorns. I thought I would share with you how it's performing, as when I started using it, it was hard to find information on other people's experience.
How does Acorns Work…
Well it simply invests your spare change. When you make a purchase using a linked bank account (such as when you pay with a debit card), Acorns rounds up to the nearest dollar and transfers that money into an investment account. It all happens automatically behind the scenes. I don't even notice the money coming out of my account.
How my Account has Performed:
I'm still in the really early days of using Acorns but here are the results:
Total Deposits: $134.28
Account Value: $136.30
So as you can see i've made a measly $2. But hey – I've only invested $100. I'll look to invest another $100 this month. If that doesn't happen using roundups, I'll manually invest extra (which acorns makes it super easy to do. You can invest as little as $5). I'll post another update next month.
Have you tried Acorns? Or maybe another micro-investment app? Let me know your expereince by leaving a comment.