How to use Acorns, the app that helps you easily turn your spare change into an investment portfolio

Acorns is an app that was designed for a singleunderlyingpurpose: to make investing a small decision instead of a big one, cofounder Jeff Cruttenden tells Business Insider.Cruttenden wanted to make it easy for people, primarily those who were younger,to start investing a little at a time. To do that,Cruttenden built Acorns in a way that distills investing down to a decision of "how much" you want to invest and "how much risk" you want to take.There are two ways you can invest money in Acorns. First, you can make a lump sum or recurring deposit. Simply select how much money you want to invest and transfer it from your bank. The second way is "round-ups."After you connect debit or credit cards, you can set Acorns to "round up" your purchases and invest the differenceif you spend $8.46 on lunch,Acorns will invest the $0.54.Then you select how much risk you want to take, and Acorns invests the money into low-costexchange-traded funds (ETFs).Here's what it's like to use Acorns:SEE ALSO:How to use Credit Karma, the popular site that gives you real credit scores for free and shows you the best ways to save moneyTo start out, you need an email address and a secure password. Acorns will also let you create a four-digit passcode to log in on your phone.Then you link your bank account and any credit or debit cards you want. Linking cards is key to Acorns' "round-ups" feature, where it invests your spare change for you.Acorns has to ask you certain investor questions before you get started. Cruttenden says the team spent two and a half years making sure the financial back-end was solid.See the rest of the story at Business Insider
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