Want to make an easy $1,000? Acorns is offering a $1,000 bonus for referring your friends to the app. If you’re unfamiliar with Acorns, it’s basically an investment app – with sort of a twist. You give Acorns access to your credit card accounts and they’ll round up your transactions to the nearest dollar and invest the “spare change” for you. For example, if you have a $2.60 purchase on your Sapphire Reserve card, Acorns will invest $0.40 from that transaction. It’s not a forced process at all – you can actually go to the Round-ups tab and manually pick the transactions.
You can sign up with my Acorns referral link and earn $5 when you invest a minimum of $5 for 30 days. Of course you shouldn’t stop there. Refer 12 friends and you’ll earn a (fairly) easy $1,000 bonus. Get your friends, family and co-workers into it. I don’t know many people that would turn down the opportunity to earn $1,000 in bonuses. To be clear, that bonus is only paid out to the person completing 12 referrals. Those who use the link to sign-up will initially only earn $5…until they hit 12 referrals of their own. If you’re recovering from all that holiday spending (or want to off-set your daily coffee habit for the year), this is a nice way to do it. Just make sure your friends use your link and invest for least $5 for 30 days. It’s really that simple.
Acorns as a Cash Back Portal
There are several ways to invest with Acorns. Aside from round-ups and monthly bank transfers, Acorns also acts as a shopping portal. You can shop online through Acorns and earn cash back that goes into your Acorns account. Just go to the Found Money tab and find your favorite merchant. Just be sure to compare their cash back rates with those found on CashBack Monitor, EvReward and Cashback Holic.
In addition to investing funds based on your spending, Acorns has a sort of cash back portal feature that lets you invest cash earned from shopping online. How are Acorns cash back compared to other portals? In my limited research, Acorns mostly has lower cash back rates. I think they’re probably relying on users either not doing their research or thinking they’ll earn the difference back over time.
Acorns does impose monthly fees, though they’re fairly minimal. If you’re investing less than $5,000, the monthly fee is $1. Investments over $5,000 carry a 0.25% monthly fee.
If you want to get in on the $1000 Acorn referral bonus, feel free to share your own referral link in the comment section.