Acorns: A micro-investment financial management app for stress-free deposits Three levels of account opening rewards are...
The author has been using Acorns for a long time. At that time, I found it from the list of angel investment companies in TechCrunch. It felt pretty good, so I registered it easily. I didn’t expect it to be used for several years. Why is it said that there is a deposit “unknowingly”? Because after using it, the usual consumption has not changed much, but when opening Acorns, it always feels like “Wow, I still have some money” !
Thinking of a previous paragraph, I accidentally caught the money I forgot in the book, and when I found it, I always felt that I made it. This is how it feels to use Acorns.
Because Acorns has been used since the beginning of the establishment of Acorns, I have witnessed several major revisions during the period, and each time it gives people a new look. But its basic philosophy has never changed, that is, there is no pressure to help you make deposits and participate in investment . This is very similar to Yu Er Bao, but different from Yu Er Bao is its unique and novel way of depositing money. In addition, there are other cashback items to get additional rewards.
Update log
01/03/2022 Update: Before 1/8/2022, invite 8 people to get a $1000 reward . You can invite family/friends. It’s a great opportunity. Let’s mobilize family and friends to join us! Click here to join Acorns, detailed terms .
Registration rewards
Here is a list of our Acorns reward link. There are several different projects, and different account opening rewards can also be obtained. You can choose the project you like to start~
1. Account opening reward $5 [Recommendation]
This is the simplest account opening reward. Click here to get the $5 account opening reward immediately (you can choose the subscription package at will). After opening the link, if you can see the following prompt in the head of the page:
After registering, you need to connect to one of your checking accounts (Checking) and turn on the Round-up function in the App (described later) to receive a $5 reward.
2. Account opening bonus $10
Click here to immediately get a $10 account opening bonus (opened $3/month subscription package). After opening the link, if you can see the following prompt in the head of the page:
3. Account opening bonus $75
Click here to open a Spend Checking account to get a $75 account opening bonus. You need to deposit at least two Direct Deposits of $250+ after opening the account. After opening the link, if you can see the following prompt in the head of the page:
Basic user
To register for Acorns, you first need to connect your bank account as a Funding Source. Credit cards are not allowed. The main functions of Funding Source are:
- Top up the account;
- Automatically round up the source of funds for deposits;
- The source of funds scheduled to be invested;
Then you can connect multiple credit cards, debit cards or other bank accounts as a source of automatically rounded transaction information. When the automatically rounded amount reaches $5, the funds will be debited from the Funding Source above.
Novel ways to save money
Ordinary money-saving apps need to actively deposit part of the money in it, just like a piggy bank. But Acorns uses a variety of ways to save money, so that you unknowingly find that you have money.
In addition, Acorns will put deposits into the stock market, similar to the operation of Yu’ebao, and then let you profit from it again without having to spend your own energy.
Automatic rounding
This is the core concept of Acorns, that is, for every amount of money you usually spend, it will calculate the amount of rounding required, and then Acorns will put this amount into your investment account. The value of each investment is very small, so that we usually consume less pressure to save money, almost insensible, but the accumulation of less will add up, and the total amount is still very objective when it slowly comes down.
The following picture is a recent screenshot of Ms. Ann. If my first purchase is $15.37, then it will be rounded up to $16, which requires an amount of $0.63. This amount is recorded by Acorns and deposited into the account to participate in the investment.
Timed repeat (fixed cast)
In addition to the above method, you can also set up an automatic repeat investment plan, as shown in the figure below, you can choose how much money to deposit every week. For example, $5 per week, that is, a cup of coffee per week, so that you can save $260 in a year. This value can be set by yourself, but it is recommended to set a relatively small value to avoid too much investment pressure.
One-time deposit
Of course, if you want to use Acorns as a pure investment tool instead of a deposit tool, you can recharge it yourself, as shown in the figure below, click on One-time in the upper right corner of your homepage, and you can deposit a certain amount of money at once.
Different investment strategies
So what investment did Acorns make with our money? Most of them are actually entrusted to securities or fund companies (ETF, Exchange Traded Fund), similar to the operation of Alipay. For investment strategies, there are five levels from mild to aggressive, and investment objects include companies, markets, real estate, bonds, etc.
The picture below shows the moderate investment strategy chosen by Ms. Ann, with a relatively flat rate of return and risk. The higher the level of investment strategy, the greater the risk, but the higher the rate of return. You can choose different strategies according to your own situation.
For specific ETF details, please refer to the official instructions .
Get cash back with Found Money
In addition to saving money for investment, Acorns also provides a way to obtain investment, called Found Money. It is similar to Amex Offer or Chase Offer, but not the same. It can be said to be a combination of Amex Offer and cashback website.
There are two types of offers in Found Money: one is cash back as long as the consumption is monitored, and the other is cash back only by clicking a specific link or button. The most used by Ms. Ann is the cash back of Sam’s Club. Registered members will give $10, and every time you purchase over $50, you will get $1, and so on. The picture below is the cash back record of Ms. Ann in Sam’s. You can see that the total cash back has been $38.59.
Investment knowledge base
Acorns is essentially an investment application, so most people who use it are for investment. If you are a novice, it doesn’t matter, Acorns provides a complete investment knowledge base to help you get started.
How to withdraw
As long as the account is over $5, you can withdraw cash. The withdrawal usually takes 3-6 days, because the SEC requires ETFs to have a mandatory 2-day settlement period (settlement period). Withdrawal can be made directly to the bank account without any handling fees.
How to avoid monthly fees
Acorns for basic functions has a basic monthly fee of $1/month. However, this month’s fee can be avoided. If you are a student at school and have an email address ending with edu, after changing the registered email address to edu email address, the monthly fee will be automatically waived (previously there was a limitation of up to 4 years free for students, but now it seems that there is no Up).
In fact, the monthly fee of $1 can be ignored, because the money deposited will participate in the investment, and the monthly investment income can easily exceed $1…
In addition, if you need Acorns’ pension/retirement plan (Acorns Later), the monthly fee is $2/month; if you need Acorns’ own Debit card (Acorns Spend), the monthly fee is $3/month (Acorns will also Charges are based on the amount of deposits, but they are now unified and have nothing to do with the amount of deposits).
As shown in the figure below, please refer to the official website price list for detailed cost descriptions .
Tax filing
Because Acorns is essentially a securities fund investment, it will issue a Form 1099 (1099-B/DIV). If you are an international student, Form 1099-B/DIV can file taxes normally, and it will not affect your status.
Summarize
Acorns is a financial management app that I like very much, and now there are different account opening rewards exclusively for Gift.ausacn.com readers. If you are also interested, click the link below to register immediately (see the description at the beginning of the article for details):
1. Account opening bonus $5
This is the simplest account opening reward. Click here to get the $5 account opening reward immediately (you can choose the subscription package at will).
2. Account opening bonus $10
Click here to immediately get a $10 account opening bonus (opened $3/month subscription package).
3. Account opening bonus $75
Click here to open a Spend Checking account to get a $75 account opening bonus. You need to deposit at least two Direct Deposits of $250+ after opening the account.
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source https://gift.ausacn.com/index.php/2022/01/05/acorns-a-micro-investment-financial-management-app-for-stress-free-deposits-three-levels-of-account-opening-rewards-are-optional-5-10-75-01-03-update-invite-8-people-to-get-1000/
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