Acorns- An App That Invests Your Spare Change

[Jason1]

Been just over a month and Thought Id do an update on this, for those interested.

Still have roughly the same view as i did when i started which is posted in my review, So thats good its done about what I expected.
Got $16.46 in rewards from Raiz partner rewards, well I have about $30 more that is yet to clear and turn up in my account, that does seem to take about 3 weeks for them to pay those rewards out, but thats ok at least I know they do pay them out into your account.
The money shown as "Buy" is the spare change going over from my bank to the Raiz account. that takes a few days to transfer.

So over all this I still consider this a rock solid beginners ap that does exactly as it promises. If you shop at Woolworths online, Dan Murphies and so on, this ap might suit you as they are a partner and buying from them online via the raiz account you get a small percentage paid back in the raiz awards which i mentioned in more detail in my last review.
All said and done Im up just under $60, when included the market gains and Raiz rewards, But once those other rewards finally come across which is around $30 worth Ill be up just under $100, and should be good once dividends get paid out which will be interesting to see what they will be.
Not bad for a month on a modest $1944 investment, not earth shattering but better than a bank I guess, I do have it set to Moderate, you can select a more aggressive portfolio if you wish, which might get bigger gains but increases your market risk. you can also select a lower risk portfolio than moderate also, Ive gone somewhere in the middle with Moderate.
In the future Ill post a screen shot of the Stocks involved in this portfolio, they are your run of the mill stocks, But Ill post a screen shot of that a bit later.
If your interested Here is the link to join it will give you and me a $5 bonus in our accounts,hope you found my review helpful, Referral link>>> app.raizinvest.com.au/invite/UZH6CX

 

[SluiceGoose]

my account has been going solid also. after a few months of just taping my card my account if well over $100
considering its just from a few cents here and there is fantastic as a background app for saving

It is good to see what a few will get as a Return on Investment as you have added a decent sum of cash into it so look forward to your results

i said to my self will only add $10 a month so i don't take my fiat away from my other investments like PM and Bitcoin etc. so to see my acc growing from such a short amount of time (and money) also is a good feeling. i dont feel that the share side will start to kick in until there is a little more in the pot but as i stated before even if its just for a background savings app and spending tracker it is fantastic

 

[mmm....shiney!]

Just a heads up, forum owner doesn’t look kindly on referral links posted by members for their own financial gain so my advice is to edit them out.

 

[Jason1]

Just a heads up, forum owner doesn’t look kindly on referral links posted by members for their own financial gain so my advice is to edit them out.

Meh, the $5 means very little to me, However if some one is on a shoe string and just using the ap to save a few bucks, that referral puts $5 into their account also to help kick them off.
So if admin wants to remove it they can. I used some ones referral code here when I joined which was helpful to both of us.
Ill leave it for Admin to decide.

 

[SluiceGoose]

Curious to know how bad everyone got hit after the market crash this week gone?

I don't have a lot in my app but it did take a little dip.

How did others go with the lager amounts etc

 

[Jason1]

Curious to know how bad everyone got hit after the market crash this week gone?

I don't have a lot in my app but it did take a little dip.

How did others go with the lager amounts etc

I pulled mine, as I did a sell on many stocks around my various other investments out side of my test Raiz amount, I'll keep that money aside and put it back in later, when will depend when the mania decides to calm down.
If you only have a a few hundred in the account, likely not worth pulling it out,they will go down but likely at some point it will bounce back.
I really only pulled mine as I think I could buy back in cheaper later. my Raiz buys were my later stock purchases so they were the ones likely tobe effected the most.
. Im still going to let the rewards go into the account, and I left the money from those past rewards stay there to keep the account open.
My luck is the stock market will bounce back this week and Ill regret it lol

Hopefully it recovers soon and i can buy back in, But saying that a few % down first would be nice before buying back in. while on the smaller side of my investments, I really do enjoy using this ap, its really good fun for some reason. lol I dont know why but this micro investing gives you a fair bit of a thrill. even more so than my bigger investments lol. If I had less than $500 I likely would have left it there.

At the end of the day, stock markets go up stock markets go down,and stock markets go up again and the cycle repeats.

 

[SluiceGoose]

Yeah well you hit it on the head. I only have a few hundred in there so it doesn't bother me. In actually fact. This might sound weird but Im learning what the stocks are doing and how it affects my account if I leave it in there.

When you pulled yours out did you do at first sign of a crash or did you pull out at a big loss

 

[LiverBird]

I decided to pull mine out too after getting smashed last week.
I only had a couple of grand or so in it so not big bucks. I'll stick some money back into it when I feel it's a good time.

 

[Jason1]

Yeah well you hit it on the head. I only have a few hundred in there so it doesn't bother me. In actually fact. This might sound weird but Im learning what the stocks are doing and how it affects my account if I leave it in there.

When you pulled yours out did you do at first sign of a crash or did you pull out at a big loss

I pulled when I saw signs of people freaking out early last week. Hysteria is a big driver of stock market sometimes.
Usually i leave it in with these sorts of Mania driven drops happen, but because I did buy these fairly late and when markets were high, I figure good opportunity to buy a few more stocks down the road.
Will see if that decision pays off or not lol.
as for your comment about being a good test, Yer it is good thing to learn, I usually I dont react much to this sorts of thing, but the first time I ever bought stocks I used to freak out at any sign of movement, so my biggest error was at the beginning was actually selling, so yes A few hundred dollar as you said is a good test, you can learnt to keep your head cool, eventually these things will go back up, Raiz invests into rather generic stocks, so chances of those returning back up are almost certain, at some point anyways.
stocks I bought years ago are still sitting in my none Raiz port folio, I wont bother selling those.

as for how I fared with my $2k Riaz. lost $12.34 on my initial investment, had about $90 worth of rewards at the peak, those are all thats left in the account, But they are worth $40 now so I guess technically Im ahead,lol but only just. would have been behind a bit If I didnt earn those rewards. They kept my head above water.
I will definitely be getting back into this ap again when things look a bit better stock market wise.As i mentioned before, the ap is good fun

 

[mmm....shiney!]

Down 6.6% over the past month.

 

[SluiceGoose]

Yeah definitely not going to get any better anytime soon.
Good opportunity if your game enough I'm still in.
Bitcoin took a huge dip. I'm keen to invest some more into that ATM as I don't think I'll see it so cheap again for a long time.

I kind of feel the same about stocks but thing about stock is there is business behind them and this crash could make or break some.
So many emotions for me ATM