Investment Apps We Love- Acorns

Let me tell you about another way that my wife and I save money & create additional income for us to spend on travel and other vices. We invest use this app called ACORNS. Never heard of it? Well take 5 minutes out of your busy day and pay attention. This could literally be an app that could change your life.

I often get people who send me private messages asking me about the stock market. Many people are embarrassed to state publicly that they do not know how to invest in the stock market. Truth is, it’s fairly simple, and it is something that is highly important to continue to generate income. Unfortunately for many of us, the educational system fails to teach us about creating multiple streams of income. I want us to change that narrative. You often hear people speaking of having a diversified portfolio or making money in their sleep. This can be easily done by buying stocks.

Let me first explain stocks as simply as I can. Companies need investors (You and I) to keep their businesses afloat and pay their employees. To raise money, they offer pieces (Shares) of their company at a price. Once you purchase these stocks you can hold on to them for as long as you’d like or you can sell them when you’d like. Stocks go up and down daily (Monday-Friday) depending on how the company is performing. The name of the game is to buy low & sell high. For example, you purchase 10 shares of Company X for 5$ per share. You have 50$ invested in the company. Company X has great sales for the next few months and their shares gradually go up to 10$ per share. That means you same 10 shares are now worth $100. You can choose to let that money ride in hopes that the share prices continue to rise, or you can sell those shares and take your profit. Simple as that.

These pictures are a general example, not our personal accounts.

Now that we’ve gone over that, let’s get to ACORNS. This is an app that links to the debit/credit card of your choice. When you spend money, it rounds up your spare change to the nearest dollar, then it purchases fractions of shares for you. This is called micro-investing. For example, you spend 25 cents on pack of gum. Acorns will take the additional 75 cents and invest it for you into investment funds that you choose. Acorns also gives you options like adding 1-10 dollars onto each roundup if you want to be aggressive. This can add up QUICK. When you need some of the money that you’ve invested you can simply withdraw it from the app. It takes 3-6 days for the funds to go back into your bank account because they have to sell your shares on the market. I have yet to touch my Acorns account. I just let it pile up and MAKE MONEY WHILE I SLEEP.

I hope this explanation of the app was easy enough for you to grasp. There are additional features the app provides that are even more beneficial, but you’ll learn as you go once you sign up. With that being said, I encourage everyone to sign up for this service. If you have any questions please feel free to reach out to us through email, Face Book, or Insta Gram. Don[t forget to subscribe to our blog for more tips and information such as this and more!

Start investing with Acorns today! Get $5 when you use my invite link: https://acorns.com/invite/2WSMET