In this post I explain why you should set yourself up an easy and painless tool that will help you start investing. It’s called Acorns.

Investing Isn’t Just for Wall Street Suits. Really.

Investing?! No thank you not for me. Is that what you’re thinking? I know, I know. You might not see student and entry-level life as going hand-in-hand with investing. Many people see investing as thing for Wall Street bureaucrats in overpriced showy suits. Or you might have some vague sense that someday you’ll have a 401(k) that you invest retirement savings into, but that’s a far off “when I’m a real adult professional” thing, not your current reality. Future life you will be a very savvy investor, but right now you’re worried about paying your rent, buying groceries, and hopefully having enough left to splurge on a few nights out with friends. Investing is for people who have money and you perpetually have basically none. For most of us, young adult life isn’t always synonymous with the high-life.

What is Acorns?

So what if I told you that could could start investing a little bit every day starting today, and I mean right now today, without even missing the money? Enter Acorns. Acorns is a tool for automatic investing using your spare change. Really, your spare change. In amounts so small that some people can’t even be bothered to pick up a few coins off the sidewalk.

Here’s how it works. You create an account on Acorns and link it to your credit or debit card. Then every time you make a purchase with your linked card(s), Acorns will invest the spare change up to the next dollar. So if you went to the grocery store and spent $23.47 and then stopped on the way home for a coffee that was $3.59, Acorns would automatically invest $.53 and $.41 into your account. Once you set it up it’s completely ambient and you do absolutely nothing. And since it’s just a few cents at a time, you don’t really miss the money at all.

To learn more, check out this 1-minute informational video.

Where Does Acorns Invest My Money?

Acorns will automatically allocate a fund of stocks and bonds to invest your money in based on your age and your tolerance for risk. It will recommend a fund for you, but you are able to make changes if you’d like. For beginners, I would recommend keeping your money in the fund they suggest for you. Want to know more about what kind of funds Acorns invests your money in? Check out this video on where your money goes and how Acorns uses something called fractional share investing to invest pennies to get you small fractions of more expensive stocks.

What Fees Do I Pay?

Acorns keeps fees to a minimum and at zero if you’re a student. For accounts under $5,000, you pay just $1 a month, which they automatically deduct from your account. Students who have a .edu email account are able to use the service for free up to four years.

How Do I Sign Up?

If you follow this link to sign up, Acorns will start you out with an extra $5 in your account and I’ll get a few dollars too. You know, as a thank you to me for telling you about this painless way to start investing.

In an upcoming post, I’ll tell you about a way to get even more free money for your Acorns account.