How I Made Over $3,000 From My Extra Change

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How I Made Over $3,000 From My Extra Change

About a year ago, I was on the look out for other interesting avenues to invest money into. I tried out several of these companies that were either giving away free money or free stocks as incentive to sign up for their service.

After a number of services gave me free money or free stocks, I started to fall in love with the concept that one of these services provided.

Have you ever been to a store where they ask you if you are willing to round up your purchase that you make and they will give the change to a local charity that the store is supporting? This service does the same thing, except that it’s for every one of your purchases and guess what, it’s not going into a charity, but rather it’s going into your investment fund.

Why is this a brilliant idea? Well who thinks about the change anymore when making purchases right? If you go buy lunch and it comes to let’s say $7.67. Would you care if that lunch actually cost you $8? Probably not.

What this service does for you, is detects that you spend $7.67 in your checking account and it comes in and takes 33 cents out of your account to round that purchase up to $8.

So where did the 33 cents go? That is the key here! It gets invested every time you make a purchase. It all funnels behind the scenes to your own account where every penny gets thrown into investment funds that grows that extra change through out the year.

In one year, I was able to sock away over $3,000 but here is the fun part. I never noticed it was really happening. I set the account up and gave approval for the service to start taking my change every time I make a purchase and the next thing I know, I have thousands of dollars sitting in this investment account.

So what is this service that you speak of Drew?

The service is called Acorns and it is a must do for anyone looking to stack a little bit of money away in investments but maybe you don’t have a ton of money sitting around to make the investment. This little trick can grow that investment even while you aren’t watching.

And grow it has! In under a year, the spare change that has dropped into that account has generated $242.56 of free money, almost a 12% return!

The cool thing about this, is that the longer I leave the money here and keep this thing turned on, the more spare change that will go into the account and the more growth you will have on the money.

It doesn’t just stop there though. Acorns also have a few other bells and whistles that can make you even more money. Listen to this!

They have another program called “Earned Found Money” where they tap you into 350+ top brands that invest a percentage of money that you spend with them every time you shop with them. It’s automatic! I have added money to my account just by doing shopping that I normally do anyways.

Here are some sampling of stores that will invest money on your behalf into your account, if you spend money at their stores. You would have spent the money anyways, so why not get a little back from them

  • Macy’s – 5% Invested
  • Kohl’s – 2% Invested
  • WalMart – 1% Invested
  • Walgreens – 2% Invested
  • Hotwire – 4% Invested
  • + Over 350 other stores

How cool is that?

This is all done without changing your banks or who you have your debit card with. Now, if you don’t like the bank you are with, they can be your bank to as they do offer a debit card as well. It’s not necessary to take advantage of what I explained to you already though.

They have a couple different investment types as well. I personally have mine split between the Invest option and their Later option. Their later option invests your money more for retirement, where they setup what you would normally call a traditional IRA account.

They also have an app for your phone, so you can keep tabs on where your spare change investment is tracking towards.

Acorns has been features as Apple app of the day recently, Fast Company denoted them as one of the 50 most innovative companies and Forbes gave them accolades for opening up investing for everyone.

It couldn’t be more true that with Acorns, no one should have the excuse that they can’t invest some money for the future. What is your spare change worth to you? Using Acorns, it could be A LOT!

Give it a shot and let me know what you think in the comments below!

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