step-by-step guide on how to make money with Acorns in the USA:
Step 1: Research and Sign Up
- Visit the Acorns website or download the Acorns mobile app from your smartphone’s app store.
- Read about Acorns’ services, features, and pricing to ensure it meets your investment goals.
- Sign up for an account by providing your personal information, such as name, email address, and social security number.
Step 2: Choose an Account Type
- Acorns offers various types of investment accounts, such as Acorns Invest (taxable account), Acorns Later (retirement account), and Acorns Early (investment account for children). Choose the one that aligns with your goals.
Step 3: Link Bank Account
- Link your bank account to your Acorns account. Acorns uses a secure process to verify your information.
- You can connect multiple bank accounts to Acorns, allowing you to invest funds from different sources.
Step 4: Set Up Round-ups
- Enable the “Round-ups” feature, which automatically rounds up your everyday purchases to the nearest dollar and invests the spare change.
- For example, if you spend $4.50 on a coffee, Acorns will round it up to $5 and invest the additional $0.50.
Step 5: Set Up Recurring Investments
- Determine how much you would like to invest regularly.
- Acorns offers options like recurring daily, weekly, or monthly investments.
- Choose an amount that fits your budget and financial goals.
Step 6: Explore and Utilize Found Money
- Acorns partners with various online retailers that offer cashback when you make purchases through their platform.
- Browse and activate cashback offers within the Acorns app.
- When you make eligible purchases, the cashback amount gets invested into your Acorns account automatically.
Step 7: Monitor, Adjust, and Grow
- Regularly check your Acorns account to monitor your investments and portfolio performance.
- Consider adjusting your settings and investment strategy if needed.
- Acorns provides tools and resources to educate users about investing, so take advantage of those resources to enhance your understanding of the market.
Step 8: Keep Investing and Long-term Perspective
- Continue investing regularly and stay committed to your financial goals.
- Keep in mind that investing is generally a long-term strategy, so don’t get too discouraged by short-term market fluctuations.
- Stay updated with Acorns’ latest offerings and features, as they continuously improve their platform.
Remember, while Acorns can help automate your investing, it’s essential to conduct personal research, consider your risk tolerance, and consult a financial advisor if needed to make informed investment decisions.