App-a-Day: Acorns

By Andy Feng on May 27, 2015


Happy hump day people! So there’s a weird new bug out there that crashes your friend’s iPhone when you text them this message:




لُلُصّبُلُلصّبُررً ॣ ॣh ॣ ॣ



I've tried it on a few friends and I've been able to confirm that it actually does work! Some are calling it the Unicode of Death. Other’s say it’s a ISIS conspiracy to take over our phones! Good job Apple… You've just created the ultimate trolling tool and now nobody’s getting any work done.



Anyway, back to business. Today’s app, Acorns, is micro-investing app that saves up and invests your spare change to grow your money over time.



The app is named Acorns because it represents how squirrels and other critters bury acorns in the ground and forget about them, eventually resulting in new trees being grown.



Acorns wants you to bury your spare change with them, forget about it for a while, and eventually watch it grow into something bigger!

The Acorns app connects with your credit or debit card and will automatically round up the change for all your purchases until it accumulates to about five dollars. Once this limit is reached, Acorns will add this money into your Acorns investment account and use it to invest in a number of different positions including large company, small company, emerging market, and real estate stocks, as well as corporate and government bonds.


Now, normally we wouldn't be able to invest only a few dollars into stocks and bonds but Acorns in effect does all this for us, automagically and without us even knowing it. Acorns combines all the spare change of all it’s users and uses this larger, combined sum to invest in an expertly selected, highly diversified array of different holdings which will slowly grow your funds over time. Quite clever.



Once you have Acorns set up and working, the money really does start to add up. After a few months you’ll find what was once a $20 account now has over $150 saved up in it. The best part, money in your Acorns account is free to withdraw anytime with only a few taps from within the app.

In summary, go download Acorns from the app store if you want to save up your change and have the chance for that money to grow and appreciate over time. Acorns is a slow and steady approach to wealth accumulation and won’t make you rich overnight, although it might surprise you sometime down the road when you serendipitously find that acorn you planted many years ago has now grown into a crime-fighting Groot from Guardians of the Galaxy.