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August 25th, 2019
Hello! This post is going to be a little different than my normal technology-related stuff, but it's something I'm very interested in and wanted to share with all of my readers.
Investing can be a very daunting task - the buy low/sell high moniker is hard to follow because when looking at a stock, how do you know if it's low? Or how do you know if it's high? I recently stumbled across an app called Acorns that takes all of the guesswork out of investing and actually has a very solid theory behind it - all set to help make you money. Here's how it works...
You make plenty of purchases with your bank account, we all do. So let's say you go to the stores and buy a pair of shoes for $65.37. Acorns monitors your bank account for all of your transactions and rounds them all up to the nearest dollar. So those shoes actually end up costing you $66 instead of $65.37. The extra $0.63 is transferred to Acorns (after your round-up balance reaches $5) and invested in various stocks - all automatically. Acorns will assess how risky your profile can be and does all of the investments on their own. You can even set Acorns to manually take money out of your account every month in addition to their round-up scheme.
I transferred $20 into the account two day ago as a way to "seed" the account and ended yesterday earning $0.14. That's not a lot, but imagine if I had a lot more money in the account.
If you sign up using my sign-up code we both get $5 completely free. They don't take your $5 and give it to me, and they don't take my $5 and give it to you. I also don't make any more money off of you and you don't make any more money off of me. Signing up with an invite code simply causes Acorns to spend $10 of their money and splits it between us.
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