Acorns Investing App – 2022 Honest Review: How It Works; Pros & Cons

Acorns is a great beginner-friendly investment app that lets you invest your spare change in various ways, including stocks and bonds. It’s perfect for those who are just starting or want to learn more about investing.

When reviewing the Acorns investing app, it is the next best thing for beginner investors. The app rounds up your purchases to the nearest dollar and invests that money into a portfolio of ETFs. Acorns also offer a referral program, so you can earn more money by referring your friends to the app.

Let us find out more about this investing app in the article below.

How Acorns Really Works

acorns app

Acorns has both – a website and a mobile app. You can easily open an account by providing your personal details, bank account details, etc. With that, you will also have to add your financial goals & your risk preferences.

There are five portfolios based on which your Acorns’ account works. These five portfolios are:

  • Conservative
  • Moderately conservative
  • Moderate
  • Moderately Aggressive
  • Aggressive

These portfolios are actually the risk preferences that you can choose and begin building your assets.

Round-ups fund your account on Acorns through your credit/debit card. You can easily make a purchase online when you link your credit/debit cards with Acorns. Acorns calculates the difference between the product’s price and dollar then invests the difference into your Acorns’ portfolio.

In most basic terms if you spend $8.50 on a purchase, Acorns will add $.50 to your account to round it to the dollar. That’s fifty extra cents to you. Overtime, these extra pennies and dimes really add up.

Acorns allows you to link multiple credit or debit cards to your account.

Acorns best app features

acorns appstore logo

Acorns is the best app for budgeting and saving. The company has made it easy for you to track your income, expenses, and net worth to help you reach your goals.

You’re probably thinking, “But I don’t have any goals.” And that’s okay. The app doesn’t expect you to know what your future holds. But what it does want is for you to have a plan so that you can accomplish those goals.

That’s why Acorns was created: that no matter what happens in life, your finances will always be in good hands.

Acorns is the best app for beginners and experts alike. It is hard to start investing, so Acorns is easy to use and accessible to everyone. Whether you’re just starting or have years of experience, Acorns is here to help.

With this free app, you can:

  • Get instant access to your account, portfolio, and any transactions that have been made on your account
  • View all your holdings in one place
  • View the performance of each fund in real time
  • Send and receive money directly from your account.
  • Earn by inviting friends

Not only does Acorns offer exceptional customer service to its users but there are also amazing cash back offers at over 350 retailers. Why not download this amazing app and start earning money today.

It’s so easy to get started making money.

Where it could be better for users

Acorns is an excellent app for investors, but it has some limitations.

For starters, Acorns doesn’t have a great way to manage your investments. It’s not as easy as Mint or Personal Capital, which have excellent tools for tracking your investments and seeing what’s happening with your portfolio.

You can’t view all of your accounts on the app. You can only see one account at a time, so if you want to check on the performance of your retirement accounts or other investments, you’ll need to log out of Acorns and log back in (or use another tool).

Finally, there’s no way to import into Acorns from other financial apps. If you want to transfer money from your savings account into an investment account to cash out some funds for an emergency, Acorns doesn’t allow this kind of flexibility—you’ll have to do it manually each time.

Acorns “Found Money” Feature


Acorns offers one of the best “Found Money” features. This feature allows and helps you to save by adding a bonus to your portfolio.

By enrolling in this program you will make more profit. In this program, there are two “Found Money” offers:

  • Tap & Get Offer
  • Simply Spend Offer

In the “Tap & Get” offer, you open the Acorns’ app and buy your items using your mobile app. However, in the “Simply Spend” offer, you have to use the app.

Continue reading: 8 Practical Steps To Transform Your Financial Life


How Much Does It Cost to Use the Acorns App?

Acorns is a free investing app, and you don’t have to spend a single penny while using it.

What Does Acorns Invest in?

Acorns invest your money in multiple exchange-traded funds known as ETFs. These funds are then invested in stocks, securities, and bonds.

Are there risks with investing with Acorns?

Acorns app has various portfolio levels that show different risk tolerances. These risk tolerances mean how much you can bear risk in your investments.

Most of the time, risk depends on three factors: the amount of money you have, the amount of time you have, and how you feel about the investment.

Who Is Acorns Best For?

Acorns is best for anyone who wants to make their finances work for them. It’s an investment app that lets you invest in stocks and bonds with a focus on long-term growth potential.

Whether you’re a seasoned investor or just getting started, Acorns can help you save money and grow your savings as you do.

Bottom Line: Is Acorns Worth It?

Acorns is worth it, but only for the right person.

By collecting spare change from your debit or credit card purchases and investing it in your Acorns account that’s how it works. You can then use that money to invest in stocks and bonds and reinvest your dividends. You can also invest some of your money into an IRA.

The app is easy to use, but it has a few quirks. For example, if you have any problems with your account balance (such as a late payment), they will suspend your ability to transfer funds out of your account until the problem is resolved. This means that if you are trying to withdraw from a bank account, they won’t accept them until the issue is resolved—which could take several days.

Where Acorns falls short is that it doesn’t have an online platform where you can manage all your investments simultaneously—you have to do everything manually through their website or mobile app. That means if something goes wrong with one part of the system (like there’s an error with one investment), you’ll have to contact customer support and wait on hold for hours before getting help.

Overall, Acorns is a solid choice. If your goal is to save money this is a great option for you. Investing can be fun and easy, so find as many options that you can and start growing your wealth now.

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