Free cash amount: $5
Rules: Must sign up for an account and make an investment
Strategy: I would make a deposit and get the cash. If you want an easy way to save, continue to use the account. If not, invest a little and then withdraw your balance after the first month. I personally use this app daily, but that is up to you.
Sign up through this link and you will receive a $5 bonus when you make your first investment: https://acorns.com/invite/AKW5XS
Getting started with investing is something that everyone wants to do, but it is harder than it may seem. There are so many options on the market and it’s hard to figure out how much to put in what account.
As a teacher of a personal finance class, I can tell you that you are not alone with the overwhelming nature of getting started in the investing process.
That’s why I’m a huge fan of an app/website called Acorns. It is an investing platform that makes investing easy.
The idea is simple. Acorns connects with your bank account and credit card and will round up each purchase and take that money and add it to an investment account based upon your risk tolerance.
For example: If you make a $4.32 purchase, Acorns will take $0.68 from your bank account and invest it into a portfolio of stocks, bonds, etc.
Sounds pretty nice doesn’t it?
It’s investing made simple.
Now for some additional features that make it even better.
- Simple classification of investment portfolios – You don’t have to decide if you want to invest Amazon or Uber, you just have to answer a few questions and they will provide you one of five options for a portfolio (from conservative to aggressive). I have the aggressive portfolio and it looks something like this:
- Found money – If getting your $5 bonus for signing up wasn’t enough, you can actually get free money when you purchase items (using your linked credit card) from a list of partners. A few of my favorites include Walmart (1%) and Dollar Shave Club (10%). A full list can be found on their website, but here is a snapshot.
Sign up through this link and you will receive a $5 bonus when you make your first investment: