A Random $1000: The Power of Set It and Forget It

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Photo by Alfred Schrock on Unsplash

How a free app helped me sock away a thousand bucks without really doing anything

(Note: I do not have any financial arrangement with Acorns)

How it works: stashing those nuts for the winter

First you give the app some information about you and your finances. I know that sounds scary, but behind Acorns is a completely legitimate SEC-regulated financial institution. Then you connect your credit or debit card(s) and bank account to the app. You’ll see in a minute why this is central to how this works.

Another ‘set it and forget it’

They automate saving too. You can have an amount you choose transferred automatically every month, any amount. This automatic saving will also be relatively unnoticeable if you keep the amount small. For me, I decided to kill some media subscriptions that I’d set and seldom used and transfer that money to Acorns. I didn’t notice those media withdrawals and I don’t notice the same thing now that they are Acorns deposits.

Small purchases count just as much as big purchases

Because the roundup takes place on any purchase that is not a round number, small purchases like a cup of coffee every morning add to the kitty. You will be surprised at how fast these add up!

What about these ETF thingys?

Disclaimer: I am not qualified to give financial or investing advice, nor do I want to.

Written by

Novelist, Tech Marketing Writer, Growth Consultant. I have been a professional writer for over 20 years- 8 non-fiction books and 1 novel, many articles, etc.

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