What are the Best Acorns Alternatives?
If you’re reading this, you likely know about Acorns. It’s a micro-investing app that rounds up your purchases and invests your spare change. The app is great for beginners looking to start investing money for the first time in an easy way. But maybe you want an investing app at a lower cost point with more features. In that case, what Acorns alternatives do you have available?
What is Acorns?
The Acorns app first started by introducing the novel idea of “Round-Ups”, which work by taking purchases you’ve made on a credit card or debit card linked to your Acorns account and topping them up to the nearest dollar.
How Does Acorns Work?
Acorns provides money tools to look after the financial best interests of up-and-coming, beginner investors through micro-investing, banking, retirement saving and investment accounts for kids. They’ve simplified many of these products to make them accessible to everyone without the intimidating task of figuring it out yourself.
What are the Best Apps like Acorns?
This list of the best micro investing apps looks to offer simplified investing experiences at the start but ones which can still serve your needs as you grow your investing knowledge.
1. SoFi Invest
SoFi Invest is an app that allows you to track stocks and trade your money. The well-known brand rivals that of Acorns in the personal finance space also has a presence in the investing world by offering free trades on stocks, ETFs, cryptos and more.
Public.com is a commission-free micro investing app that targets Millennials and Gen-Zers who have attuned their senses to social media. This price point compares favorably with Acorns: free is free and Acorns isn’t free.
3. M1 Finance
M1 Finance automatically rebalances your portfolio in line with your stated asset allocation targets. Doing this at regular intervals has been shown to improve overall portfolio performance. Mutual funds do this when assets fall out of balance.
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