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Acorns - A beginners adventure - Part 1

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

This will be a multi-part series on my investing adventure with Acorns.


l've never been a person to save / invest my money. Money would tend to burn a hole in my pocket.

After purchasing my first new car I realised I have to start looking to the future much more than I was. The whole "day by day" living with money is not going to work for me anymore. This is when I started looking into ways of saving money. Specifically in ways that limit my access to the money it self. (The goal for me isn't liquidity any more, it's saving and earning!)

I realised that the liquidity of standard bank / savings accounts was my achillies heel. If there was a way for me to get the money immediately I would spend it! Knowing this bad habit of mine lead me to look into investments and money market accounts.

Acorns has an approximate 3 day wait time on cash withdrawals. I found this to be perfect. If I need the money immediately for an impulse purchase I no longer can access the cash quickly. This gives me three days to decide / work through if I really need the money.

I started very small on my first investment as I was still feeling out how this stuff works. I selected a moderate portfolio as I really would like this to be a relatively safe investment that's closer to a savings account than a stock account. I deposited $10 into Acorns and have watched it for about a week now. With no losses to report so far I am cautiously satisfied. I know investing is a long term activity and I recognize I will not be able to judge the performance of this investment in the short term.

It feels good to finally be on the right track financially. Even if my choices are not perfect I am doing much better than not saving a dime.

As someone completely new to saving and investing I appreciate any comments or suggestions on my savings future! =]

Free $5 through Acorns: (REF LINK) https://www.acorns.com/invite/?code=E4HHJK


This article was written by Andrew Bullock for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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