Micro Investing Packs a Punch
Back in January, I came across a great article about a business owner who offered his employees a $500 bonus, but the employees had to invest it in a micro investment site called Acorns. Now I have a brokerage account and I use a robo adviser, but for some reason Acorns caught my interests. I did my homework and decided to take the Nestea plunge and with a mere $100 deposit in early February, I began.
I've never drank coffee, but I figured I would invest $10 a week which is roughly the cost of a large cup of coffee and a breakfast sandwich along with the spare change of every single financial transaction I make. Thirty cents here; eighty cents there, but never more than a dollar. And only once I reach $5 dollars in spare change will Acorns invest the money in my account. I figured six months would be a decent amount of time to do the rope a dope with micro investing to see if it would be for me.
Fast forward six months; investing only $10 a week and the spare change from my transactions I reached $864.02. Now obviously these results will differ depending on how much you invest, the amount of transactions you make on a weekly basis and/or your investment strategy, but at only $1 a month I highly recommend it. This is not going to get you rich, but it's better than a savings account or your piggy bank at home. I had a market gain of $30.69 (3.5%) and I invested conservatively. Not bad.
Over the next six months, I am going to increase my investment by $5 a week and I am also going to incorporate the Found Money aspect of Acorns to see how much my nest egg grows. With Acorns there is really no reason for you not to invest and it is a great introduction to investing.