Pretty much every college student makes purchases on their credit/debit cards right? We rarely ever have cash unless we’re waiting in line at the bar to pay cover. We also like to live in the “here and now”, and often forget about the loans we will need to pay back upon graduation/the cost of living, etc. Now, there’s a solution. It’s an app called “Acorns”. You can get it on either the iPhone or Android, however it is still in the beta development stage. The app is genius, it allows you to invest money in different stocks based on the amount of your purchases at various locations.
Let’s say you buy a coffeee, and the total is $3.50. The app will round the purchase up to $4.00, and invest 0.50 of that purchase into a stock of your choice. You can pick the risk level (from risky to conservative) of the stocks you wish to invest in. Then, you have 0.50 in a stock fund that can be increased, allowing you to make money. Just from a simple coffee purchase! Now, there is a fee for using this service but it is very small compared to the potential revenue you can generate from using this app. The fee is one dollar per month, but at the time of download, the app awards you five dollars. Not all of us are econ majors, but I think it’s safe to say that this is one of the most innovative apps of its time. College students can use everyday purchases to generate revenue, which might make those loans easier to pay off after school, or that retirement that much greater.
The app is still in the development stage, but you can sign up to receive either the Android or iPhone version of it when it’s released on their website: https://www.acorns.com.
How legit is this app?
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