Review – Legitimate or Scam?


Maybe you’ve heard of It’s an app found in the app store, the google play store and at their website, that supposedly saves you money and invests it for you. Does it work though? Is it worth using to invest? After reading this Review, you will know everything in order to answer these questions and more. I will be using images from a real account to walk you through Acorns so you can get a true inside look!

What is the Acorns App?

Acorns is an app found in the Google Play Store and the App Store that claims to invest your spare change. The way it does this is by rounding up all purchases that you make using a linked debit or credit card. You can link any debit or credit card to Acorns. Once linked, you just spend like normal. Acorns will use a system known as “round-ups” to round all purchases to the next whole dollar and invest your change. If you make a purchase at the store for $14.50, Acorns will round up the purchase to $15.00 and send $.50 to your Acorns account. Next, you go to the gas station and spend $25.20. Acorns will round up to $26.00 and send $0.80 to your Acorns account. As you continue to make purchases, these micro-savings start to add up and grow in your Acorns account.

Your money doesn’t just sit in the Acorns account though. If it did, it would just be a savings account. Instead, Acorns also builds you a portfolio of stocks and bonds dependent on your tolerance for risk and invests your money for you similar to having a financial adviser. You customize your profile to include your goals and financial situation and Acorns builds your portfolio with a mix of ETFs (Exchange Traded FundsOpens in a new tab.) to ensure it’s diversified in a number of industries. These industries are:

Asset Classes

How much in each category is dependent on which risk portfolio you choose. It’s very customizable. There are five portfolios to choose from:

  1. Conservative
  2. Moderately Conservative
  3. Moderate
  4. Moderately Aggressive
  5. Aggressive

Here’s an example of what “Moderate” looks like (you can change your portfolio with a couple of clicks at any time):

Acorns Moderate Portfolio

Are There Other Ways To Invest?

Yes. You can also set up recurring deposits in addition to your “round-ups” that are either monthly or weekly (minimum $5). For example, if you want to invest $5/week in addition to rounding up your change, that is easy to set up as well. Now one thing that I think you will find really interesting is “Found Money.” This is a program that automatically gives you cash back for shopping with certain companies that have a partnership with Acorns. Here is a list of some of the companies that participate:

found money partners

What’s really interesting about “Found Money” is that you don’t have to do anything special. If you shop with the credit or debit card that is tied to your Acorns account, you’ll receive “Found Money.” For example, every time I go to Sam’s Club, I receive $1 of Found Money. It’s not much but it adds up! If you click on Walmart or Barnes&Noble, you’ll receive 1% cashback on all purchases. If you are using a Cash Rewards card, you’ll still get those rewards too so you can even double-dip.

So what’s it look like inside the account?

real acorns account

Above you can see how much has been invested in only two years of having this account as a result of round-ups, found money, dividends which are basically periodic stock payouts, and referrals (for everyone that joins through your link, you get $5 and they get $5).

projected vale for Acorns account

Here you see, that by only investing $5/week and adding round-ups, by the age of 75 (currently 36), this account is on track to be worth $115,000. This can be easily tweaked by choosing a different portfolio or adding more each day, week or month.

round-ups summary

Lastly, you can see that round-ups really add up! There have almost been 3000 round-ups in this account within two years.

How Much Does Acorns Cost?

This is really the big question, right? Well, they wanted to make it really easy for the beginning investor to get started so the only fee for this is:

acorns pricingOpens in a new tab.

Seriously, that’s all it costs. “Found Money” can pretty much make up for that. There are a couple of upgrades you can choose from but they are not necessary to get started. If you add their retirement account, it costs a total of $2 per month. If you tack on a checking/savings account, you get all three for $3 per month. I only use the $1 per month Acorns Core package but feel free to see any others if you are interested! This price does not change until you have $1,000,000 in your account. I honestly don’t know what they do after you reach 1 million dollars but I figure, once I’m there, that’s a good problem to have. Am I right?

Final Verdict

Acorns is by far not a scam. In fact, it’s a really convenient way to force yourself to save and invest money. The round-ups happen throughout the month in micro transactions so you don’t feel the money leave your bank. I think for beginning and advanced investors, this is a good addition to your toolbox of wealth. I will continue using Acorns and if you like this review, please feel free to leave a comment below or share this post with others! I hope it was very informative and useful. If you decide to open an Acorns account with the link below, we’ll both get $5.

Thanks for reading! Let’s Start Investing!

Join Acorns Today and we’ll both earn $5


Ease of Use






Ease to Start





  • Easy to start right away
  • Money is invested automatically
  • 5 portfolios to choose from
  • Can upgrade to a retirement account and bank account
  • SIPC insured

Eric Baglio

Eric Baglio has been investing for over ten years and learned a lot of valuable lessons along the way. He has helped numerous people start investing on their own and founded Let's Start Investing to help anyone willing to learn how to build wealth. His favorite brokerage is Webull and his favorite stock advising service is Motley Fool Stock Advisor.

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