Acorns Review

Donny Gamble
April 18, 2022
Personalincome rating

Acorns is an excellent financial product that helps people save, but it’s not an end-all, be-all to investing as a whole. You should be able to use Acorns in conjunction with other investment options.

Acorns logo
on Acorns's website
$3 - $5
per month

$10 Sign Up Bonus

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The information provided on this page does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual.

Key Takeaways

  • Educational Content Archive: Plenty of educational content to help you make smarter financial decisions from day one.
  • Sign-up Bonus: You can get a $10 sign-up bonus depending on the promotion at the time.
  • Helps Struggle Savers: If you’re struggling to save money but you know you want to, this is an automatic way to ensure that you’re investing hundreds or thousands of dollars per year.

Pros & Cons

  • No Account Minimum
  • Invest spare change with Round-ups
  • Access smart portfolios designed by experts
  • Cash-back options
  • Less control over investing
  • Have to pay monthly fees

Acorns is all about saving, investing, and building wealth without having to think about it. The entire point is to make investing hands-free and save you time, but how well does that work?

Acorns is a well-trusted app and service that basically works as a robo-advisor. They’re simple to use, integrate well with your current lifestyle, and they don’t take long to get signed up for.

In this Acorns review, we’ll talk about their automated investing strategy, what else they offer, and take a deep dive into their service to find out if it’s right for you in 2022.

About Acorns

Acorns is an app-specific investment service founded in 2012. It strictly focuses on ETF investing, and allows you to use spare change to create an investment portfolio.

The design is to create a way for bad savers to take control of a part of their financial future, and it’s worked to great effect. Headquartered in Irvine, CA, it surprisingly has over $3B in assets and 8.2 million customers.

The goal of Acorns is to help people invest when they would otherwise spend. It’s helped over 8 million Americans save an average of $352.00 through using it, and that money gets invested in ETFs to help build a financial portfolio for you.

It’s as simple as that, and then you’re investing. There’s not a lot of control, but part of the sales pitch is that people who don’t know how to control their finances can benefit from it.


Acorns invests in ETFs with your money and puts them into your portfolio. This is the main purpose of the service and is done automatically.

That’s the entire service. It’s straightforward and doesn’t have any complexity to it, yet it’s built over $3B in asset management when other companies fail to meet the same amount with 10x the products, so it’s a pretty impressive feat.


Pricing in Acorns is very simple: you pay a max of $5.00 per month, so $60.00 per year, and they auto-invest for you. In some instances or depending on your balance, you only pay $3.00 per month, or $36.00 per year.

If you continually invest money through debit card purchases, that’s great. You’ll still pay the same amount of money for the service and nothing changes.

On a percentage basis, it’s high. Most robo-advisors charge between 0.25% and 1.00% of the total asset cost per year. If you only have $500 saved at the end of the year (a common amount), your $60.00 is 12% of that amount.

The percentage goes down as your account has more money, technically, but since you can’t direct invest it can take time to whittle it down.

The pricing is fair as a cost-to-enter for investing when you otherwise can’t or don’t save enough to invest, so it’s fair for the service, but takes time to look good on paper.

Who is Acorns Best For?

Acorns is best for anyone who has a hard time saving money. Period. Your money wastes away in a savings account since virtually zero savings accounts have enough interest to match or beat inflation, so investments are the best option.

If you can’t save money (or don’t want to) but you want to be prepared for the future, Acorns is for you.

Compare to Other Advisors

Betterment logo
Up to 1 year of free
M1 Finance logo
Up to $2,500 Bonus
Personal Capital logo
6 months of free wealth management

Acorns FAQ's

Is Acorns trustworthy?

Yes, Acorns is a trustworthy service. Plenty of people have been using it since it came out in 2012 to great effect, and they’ve raised an impressive asset management platform that holds over $3B for millions of investors.

It’s a trustworthy service that we’ve vetted and found zero problems with. It’s safe to sign up today.

How does Acorns work?

Acorns makes their money through interchange fees, which is the main model for the business. While they receive around $24.6M to $41M per month based on their subscription model, the massive asset management that they have suggests that there’s a good amount of transactions that they also make money from.

When your money goes from your debit card and sends the rest to Acorns, they place it into fractional ETFs that count as your investments. 

It’s an automated platform that immediately invests that money so you can actually see your investment as fast as possible instead of just taking them on their word.

How does Acorns make money?

Acorns makes money through two main ways. One, their subscription revenue, which is essential to their business. Two, debit card interchange fees, so when you use your debit card and make purchases.

This doesn’t seem like much, but if you’re using your Acorns account, they can earn somewhere between $0.22 and $0.54 for a single transaction. As the point of their app shows, a little bit can add up over time!

Does Acorns sell any of my personal information?

Acorns says that they do not “sell” your personal information, referring to the CCPA definition of “sell” which is: “selling, renting leasing, disclosing, disseminating, making available, transferring, or otherwise communicating orally, in writing, or by electronic or other means, a consumer’s personal information by the business to another business or a third party for monetary or other valuable consideration.”

That’s a roundabout way of saying it when they could just state that they don’t sell your information, so it has our ears perked up to see what they’re up to, but as of this time we cannot confirm nor deny if they release your information to anyone other than third-party agencies.


Acorns helps you save & invest. Invest spare change, bank smarter, add Bits of Bitcoin to your ETF portfolio, and more.

  • Acorns
  • Rating: 4.5
  • Reviewed by:
  • On April 18, 2022
  • Last modified:April 24, 2022

Review Summary:

Acorns helps you save & invest. Invest spare change, bank smarter, add Bits of Bitcoin to your ETF portfolio, and more.

Review of: Acorns

Reviewed by:
On April 18, 2022
Last modified:April 24, 2022


Acorns helps you save & invest. Invest spare change, bank smarter, add Bits of Bitcoin to your ETF portfolio, and more.

About the author 

Donny Gamble

I’m Donny. I’m a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.

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