Setting money back for the future is hard. If it isn’t Apple coming out with a giant iPhone, it’s the latest movie you have to see in IMAX. And we all know a couple tickets and popcorn at one of those is the equivalent of half a month’s rent.

Acorns allows you to round up your purchase to the nearest dollar, and it uses the money to invest in the stock market. Granted, if you watched CNBC lately, you’ve seen a few wicked moves in the market. If it was Six Flags, you’d be passed out from the swings.

For now, the app is available on iOS and Android. There are plans for a web platform in the near future, but for now, you are stuck adding your pennies to the stock market. You can choose how you want to invest your nickels and dimes via settings within the app. Feeling conservative? It has you covered. Risk taker? It’s probably better than listening to Cramer’s picks.

As with all things money, security should be among the first of your concerns. The app boasts bank level security and data encryption. For your portfolio, Acorns uses modern portfolio theory by Dr. Harry Markowitz. You won’t become the Wolf of Your Hometown, but you also won’t get killed in a volatile market. The portfolio you build will automatically be rebalanced and dividend reinvestment is included.

How Much

What? You didn’t think they were doing this out of the goodness of their hearts, did you? There are fees associated with the service, but nothing exorbitant. There is a $1 per month service, and a 0.25-0.5% annual management fee. Those are low rates, considering the features you get.

Another benefit of the app is the design. It is is beautiful. Blows the eTrade app out of the water. Plus you can set and forget it. If you want your money, it’s always there to withdraw, and there are no minimums to open an account.

After all, it is using your spare change. Not like you are throwing in $50k to start off with.

Check out the app at Acorns. You may not become Buffet rich, but it can’t hurt to sock away the change for a later day.


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