by Matiya Hill
Welcome back to Brown Girl Green Money! I’ve been out of the loop for a little while so I didn’t realize Valentine’s Day caused such a buzz. However, I enjoyed every bit of the crowded stores, congested traffic, hopeless romantics, and CHOCOLATE. Today, I want to discuss the app called ACORNS. In January, I watched a Breakfast Club interview with Staci Tisdale and Sirita Wright from Black Enterprise Magazine. This awesome interview introduced me the app called ACORNS, so of course I wanted to share this wealth of knowledge with my Brown Girl Green Money fam!
The Acorns app is used to start investing by simply using your spare change. The goal of ACORNS is to help us build wealth or bulk up our savings accounts. Yes, this app is perfect for those of us who are not professional investors. This revolutionary app aims to simplify this process and reduce any anxiety that new investors may have. Also, if you aren’t interested in the mobile app, there is a web-based version for desktops and portable devices. Ok, enough with the mini intro, let’s get into the specifics!
First, interested investors must download the app. Next, choose your round up account, connect your checking account (which is different from your round up account), and create an investment account. Once those accounts are created you have the option of choosing your portfolio: conservative, moderately conservative, moderate, moderately aggressive, or aggressive. For example, if I spent $10.50 at the gas station this week and $0.50 was added to my Round-Up balance. Once the total reaches $5, the money is then withdrawn from my bank account and added to my Acorns investment. The ACORNS app can be confusing for first time users. If possible, please take the time to review ACORNS before diving in! Thank you for reading this post, and also check out the Breakfast Club interview mentioned above: https://www.youtube.com/watch?v=kYfGcd6Zr3o
If you have used the ACORNS app, please share your tips and experiences. Also, visit and like our Facebook page: www.facebook.com/browngirlgreenmoney