Saving made fun… Really?
When I arrived in Australia my bank balance was the healthiest I’d ever seen it. A really nice chunk of money. Well, after 8 weeks living in Melbourne while I was looking for a camper van, the inevitable happened. Hostel costs, $10 beers and expensive food were all to blame, but never the less I was skint by the time I started travelling. After that, it was difficult to save money. When I was paid it seemed to always have a place to go. Petrol, rent, and excursions all cost money. But I felt bad that I wasn’t even attempting to save, even a little.
I stumbled across an app called Acorns. It advertised itself to be a ‘stocks and shares’ app. The idea being to choose a portfolio type, from ‘conservative’ to ‘aggressive’. The app will put your save money into a wide portfolio and you can see your returns in an intriguing app for your smartphone. Again though, if I can’t save normally with the bank, this has no chance, but that was not the case.
The way Acorns app works is with a system of ‘round-ups’. For example, if I were to buy a coffee at Starbucks for $5.55 the remaining 45c would be invested into my Acorns account automatically. So gradually over time your constantly topping up the account with loose change.
This was great and after a few weeks, I had invested a good few $ into stocks and shares that were really interesting to follow. Simply sit back and watch your money work. After a week I was hooked and was investing $10 – $30 per week on pay day. Your save money is withdrawable at any time with no questions. It really is like having a fun, interactive savings account.
After I found Acorns, it gave me an incentive to save money at the same time as rounding up my purchases. After a month or so I had saved enough money to do an extra trip on the East Coast of Australia.
We’re not partners with Acorns, I just wanted to pass on some information to you that I’ve passed to my own friends and found helpful myself.
Check them out yourself at acornsau.com.au