Its main micro-investing feature allows budding investors to start small by investing the spare change from their everyday purchases.
For example, when you purchase a coffee for $3.75, Acorns rounds up to the nearest dollar and invests the spare $0.25 cents into the market. The idea with micro-investing is that over time your contributions will add up. It’s a good strategy for newbies who want to dip their toe into the investing pool before diving all in.
For those just embarking on their investing journey, entering the stock market can be a daunting process. But a number of fintech investing apps have beginner-friendly features such as no account minimum, educational resources and simplified interfaces which can make the transition into investing much less intimidating. Many newcomers may opt for Acorns, which has many of these features.
