Acorns Investing App: Worth Using? - BreadHero

Acorns investing app: worth using?

The Acorns investing app has become very popular among the younger generation. Many people have heard of the app but are unsure whether or not they should use it. So what’s the deal with Acorns?

The Acorns app works by automatically investing your spare change. It does this by rounding up your purchases and investing the difference. For example if you bought a coffee for $2.50, you would be charged $3 and $0.50 would be invested.

Something that your Acorns account will help with is automating investing so that you do not have to think about it. You can link as many cards as you want, and once you reach $5 in round-ups Acorns will invest it for you based on the portfolio that you chose.

The Acorns app has no minimum balance and offers a free plan for college students. If you are someone who is just getting into investing and saving, Acorns can be a great place to start.

acorns investing app, person holding holding acorns

Acorn App Features

Round-Ups: Change between a transaction’s purchase price and the nearest whole dollar will be invested automatically in $5 increments.

Found Money: Extra money is added to your Acorns account when you shop with an Acorns partner. However, the list of partners changes frequently so be sure to check back regularly. 

Acorns Invest: This is Acorn’s most popular feature and probably why you are considering them. Acorns Invest will invest your spare change for you, also known as your round-ups.

Acorns Later: Later is Acorn’s own retirement account offering. For your first million dollars in the account, the fee is $1 per month. After that the fee changes to $100 for every million dollars.

Acorns Spend: Spend is Acorn’s checking account and debit card. The debit card saves and invests for you with every purchase and you do not need to manually link it.

Acorns Gift Cards: Acorn’s new gift card offering allows you to buy a gift card for someone and they will have that amount automatically deposited and invested for them when they sign up for Acorns.

Grow: Grow is Acorn’s educational finance blog, which can be accessed from the app or website. Topics that are covered on grow include saving, investing, earning, spending, and borrowing.

Acorn App Interface

The Acorns app itself is split into four different sections: Past, Present, Potential and Grow.

The Present tab allows you to view how much your invest account is currently worth. In addition, you can see the current value of your Spend and Later accounts if you have subscribed to those features.

The Past tab shows the user an in-depth breakdown of previous deposits, round-ups, found money, and more. Furthermore, if you have earned money from referrals or dividends those will also be visible in the past tab.

The Potential tab will show you the projected future value of your account based on what you are currently investing. You can also change the value of your projection by changing your recurring investments. 

Lastly there is the Grow tab, which as mentioned above is the educational blog made by Acorns. Moreover, this is also where you will find Acorn’s FAQ section.

Who is an Acorns Investing Account Best For?

  1. College students who want to save for the future.
  2. Young adults with no retirement account.
  3. People who want to save and invest without thinking about it.
  4. People who do not have time to manage their investments.
  5. Those who struggle to make regular saving part of their life.

The Acorns platform is mainly geared toward college students and young adults who would not otherwise invest. The Acorns app is very beginner-friendly and will not intimidate you if you know little about investing.

Acorns works through something that is called robo investing. The app automatically builds a diversified portfolio of exchange traded funds across 7 asset classes, and in addition will automatically rebalance it for you.  

student acorns investing the bread hero

Acorns Subscription Fee

Acorns charges a monthly fee for having an account with them. There are three different tiers of accounts that are currently available. It is also worth noting that college students can use the service for free.

The first tier is known as Acorn Invest. It costs $1 per month for automated investing. Next, the second tier is $2 a month and gives you automated investing + the Acorns Later IRA. The last tier is $3 per month and includes the IRA and an Acorns checking account.

While it seems that Acorns is cheap, it is worth noting that it can limit your investment gains by collecting monthly fees. It really depends how many transactions you are going to be making.

For example, say you made 100 transactions in a month and invested $50 in round-ups. Acorns would take $1 of this, which is consequently a 2% loss right off the bat. Or, if you invested $1000 over the course of a year, the monthly fees would equate to a 1.2% loss.

When you compare this to the expense ratios of other funds that you can invest in, it does make itself apparent that Acorns is not the cheapest way to invest your money.

On the other hand, if you are someone who was not going to invest anyway, it would be better to pay the fees and have them invest for you. There are some alternatives to Acorns though.

Alternative to Acorns

My alternative to using Acorns to grow your investments is stacking a Chime savings account and a Robinhood investing account.

The Chime savings account is linked to your Chime debit card and has the option to round-up your purchases without a monthly fee. Round-ups will be automatically transferred to your savings account.

The only thing is the money will not automatically be invested for you. This is where your Robinhood account comes in. You can either transfer money on a weekly or monthly basis to your Robinhood account, or you can set up automatic transfers within Robinhood. 

Once the money is transferred to Robinhood, you can invest it in an S&P 500 exchange traded fund. This is an easy way to diversify your investments and eliminate single stock risk.

Stacking a Chime savings account with a Robinhood account has the same effect as an Acorns account without those pesky monthly fees. Therefore it serves as a great way to continuously grow your savings and investment account.

Also, if you use our link to sign up with Chime, and make a $200 or more direct deposit, you will be rewarded $50. If you use our link to sign up for Robinhood, you will be rewarded a free stock ranging from $3-$500, without any initial deposit. 


checking and savings

Earn $50 when you use the link below to sign up and make a direct deposit of $200 or more.



Now that you know all the information, open an Acorns account today!



Earn a free stock worth anywhere between $3 and $500 when you use the link below to sign up.

The bread hero


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