Acorns

Acorns turned the concept of spare change into an investing platform. The app rounds up your everyday purchases to the nearest dollar and invests the difference into a diversified portfolio of ETFs. It sounds gimmicky, but over 12 million users have collectively invested billions of dollars this way.

The platform has expanded well beyond roundups. Acorns now offers a retirement account (Acorns Later), a checking account (Acorns Spend) with a debit card that earns bonus investments at partner merchants, and Acorns Early for custodial accounts. The Found Money feature gives you cash back investments when you shop at partner brands.

Acorns' target market is people who have never invested before and find traditional brokerages intimidating. The flat monthly fee ($3-$12) is simple to understand, and the fully automated portfolio management removes all decision-making. For building the investing habit, Acorns is effective.