How to Get a Free $5 to Invest in the Stock Market
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Do your friends all talk about their investment portfolios? You’ve been meaning to get in the game, but how do you start if you don’t have a big bankroll to invest?
We’ve got your answer. It’s called Acorns, and it’s an app that lets you start investing without risking big bucks.
And here’s a bonus for our Penny Hoarder friends: Get a free $5 in stocks when you make your first investment.
How to Get $5 From the Acorns Investing App
You can download Acorns for free.
With the app, you’ll start small and stack up change over time with the Acorns “round-up” feature. That means if you spend $18.18 on your connected debit or credit card, for example, 82 cents gets dropped into your Acorns account.
Then the app does the whole investing thing for you. It’s that cool. Now you can brag to your friends, too.
The idea is you won’t miss the digital pocket change — you know, out of sight, out of mind. And those automatic savings stack up faster than you’d think. For example, we reviewed how Penny Hoarder Dana Sitar was able to save at a rate of $420 a year without trying!
The app is free to download, and the service costs $1 a month for balances under $1 million — plus you’ll get that $5 bonus just for starting out.
The sooner you start investing, the sooner your money can start to grow toward your goals.
Tyler Omoth is a senior writer at The Penny Hoarder who loves soaking up the sun and finding creative ways to help others. Catch him on Twitter at @Tyomoth.