6 Comments

  1. Well done for your first month. This is quite strange as I have just started my own Acorns account around the same time as you and I have $109 in the account. Very similar results. Thanks for sharing your results.

    • pia

      Ah, what a coincidence! I have to say I’m a little hooked on checking every night to see how the daily market is doing. I’m sure that novelty will wear out soon though, haha. Good luck on your Acorns journey too, I’m sure I will be reading about it on your blog too =P

  2. I too have an acorns account, but when I realised how ridiculous the fees were I threw a bigger chunk of money in. $1.25 a month is an insanely high fee for $100 balance (15%!!!), but much less painful with my $700 balance (2.1%)

    • pia

      It really is insanely high, isn’t it? I’m contemplating upping my monthly contribution so that fees percentage doesn’t hit quite so much.

  3. Andy Todd

    I tried Acorns but like the other commenters here was put off by the relatively high fees. I decided to go old school and just deposit money into a savings account and then buy shares when I have a large enough balance to justify the costs of a transaction. Of course I’m probably not the target customer for Acorns as I can and do manage to save regular amounts each month.

    The other main selling point of ’rounding up’ your transactions just didn’t sit well with me. So with those 2 negatives I didn’t see the point in continuing and closed my account.

    • pia

      I think I would have appreciated Acorns even as recent as a year ago. But since then my saving habits have amped up and spendings gone down, so I think I’ve also gradually slid out of their target market. I’m not sure if I will be able to complete my 12 month experiment to be honest!

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