I’ve posted about Acorns previously. Acorns is an investing app that round up your daily purchases and automatically invests the ‘change’ into a diversified portfolio of ETFs. Acorns makes it cheaper to invest, but it’s not free. It will cost you $1 per month for accounts under $5,000, or 0.25% per year for accounts over $5,000. Individuals under 24 years of age and those attending college pay no fees.You can read more about the app here. They also have a ‘Found Money’ rewards program that works like a cashback portal, but the cash back is invested instead.
Signup & Referral Bonus
Acorns has a $5 signup bonus. If you’re interested, you can sign up here with my referral link.
But what makes it even better this month, is that they are also offering a $1,000 bonus when 10 friends you invite, start investing in January. That’s in addition to the $5 per referral that you normally earn. Plus if you’ll be pleased to know that they will also plant an oak tree with OneTreePlanted for each new friend you invite. That’s a great referral bonus, but you only get it if you reach the number of 10 referrals. Otherwise, it’s just $5 per referral. This is similar to the bonus they offered last month, but it it now much better.
Friends must sign up on or after 1/01/2018, have an account in good standing, and make their first investment by 1/31/2018. Bonuses are paid out by 2/15/2018. Referrals who close their account before 2/01/2018, or make an investment that results in a chargeback, will not qualify for the promotion.
The app is an easy way to get into investing and it costs just $1 per month if your account balance is less than $5,000. I have had an account for almost a year and so far returns have been decent. I have a market gain of 15.4% and total gain after fees of 12.58%. Although not a great rate, it is better than I expected with these type of apps.
If you sign up later in the month then it’s probably difficult to get 10 referrals for this $1K bonus, but it should still be worth it. You do get the $5 bonus and hopefully they run this same promotion for February, as they’ve done in the past 3 months.