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. You can get $0.50 for every Uber ride for example.
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 $1,200 bonus when 12 friends you invite, start investing in December. That’s in addition to the $5 per referral that you normally earn. That’s a great referral bonus, but you only get it if you reach the number of 12 referrals. Otherwise, it’s just $5 per referral.
- Friends must sign up on or after 12/01/2018 and have an account in good standing and make their first investment by 12/31/2018.
- Bonuses are paid out by 01/15/2019.
- Referrals who close their account before 01/15/2019, or make an investment that results in a reversal from their bank, 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. If you’re interested in investing, Robinhood could be a better option, with no fees at all and it includes options and cryptocurrencies. But if you think you can get 12 friends to sign up this month, then definitely go for Acorns.