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Originally Posted by IllSic_Design
Acorns is a little different in that it tracks your spending for certain debit/bank accounts that you tell it to, and it rounds purchases to the next dollar and then puts that difference into an investment account. Not a traditional broker where you deposit money(though you can set an amount to deposit every month if you choose) and pick stocks/funds/etc, it pretty much does it itself just based on your risk you select.
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Quote:
Originally Posted by x5wntd
The main point is that the app filling up ur account w/out any urs action. You just set it up once and might forget unless wanna put some extra $$
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I understood that much. I don't like that they now have that kind of data on me and have that ability. I usually am not a stickler for personal data tracking, like shopping habits etc, but actual spending amounts from my accounts is a little to intimate. No thanks. I can choose how much I want to invest, I get the idea, I just don't need it.