There are plenty of ways to save money. Most people choose to open a savings account, thinking that this is surely the best way.. Your father did that, his father did as well and for many years a regular savings account was the way. But did you know that savings account only earns you .16% on average?! Even if you find a bank to give you a higher APY (Annual percentage yield) in most cases they will only give you that high interest rate on a fraction of your money.
Why not use the powers of compounding interest and automated investing on the Acorns app. Personally, when it comes to saving money I have to admit. I suck at it. I'll make a plan and promise my self left and right that I'm going to follow it, only to veer from the goal on day two or best case after a month. That is where acorns automated investing comes in to save the day. Lets say for example that you make $10 an hour and you work 8 hours a day 40 hours a week. Does it sound crazy to take the first hour of your work everyday and pay it to yourself? Make sure that every single day that first hour of work is yours, you're keeping that money and putting it to work for YOU! That $10 dollars a day for a year is you guess it $3,650! When you set this up on acorns its a reccuring investment, that means everyday the money is taken from your account and put into an investing account for you. You never have to see that transaction happen, with acorns robo-investing technology you never need to worry about what to invest in as well. All the hard work is done for you! Oh and the best part if you do this trick for 5 years, that $10 a day aka $18,250 is making you money. The powers of compounding interest are on your side with this app. "Compound interest is what happens when the interest you earn on savings begins to earn interest on itself. As interest grows, it begins accumulating more rapidly and builds at an exponential pace. The potential effect on your savings can be dramatic." (Securian Financial)
It's easy to tell yourself "I'm going to start saving." But when it comes down to it we all know when you have to physically put that money aside yourself everyday. It's not happening. I honestly enjoy, using Acorns. I get to invest in various different companies, crypto currencies and much more without having to do the time consuming research. I never think about the money leaving my account because it happens automatically and every dollar I put in is eventually going to make me money. I even take advantage of the round-ups feature to boost my account. If you want to know more about that you'll have to try it for yourself.