Microinvesting apps make sense if you can start with $1200 (since $1 a month is $12 per year, or 1 percent of $1200).

Here is an email that I received from Acorns.com

Hi Steve‍, Thank you for contacting Acorns Customer Support! I would be happy to help you out. Unfortunately, Acorns no longer offers the student promotion to waive fees for college students. I sincerely apologize for the inconvenience. But there are other ways, you can also grow your balance by shopping with our Found Money partners. When you click through the app to shop with one of the more than 300+ brands In the Found Money section, that company will invest a set amount or percentage of your total purchase into your Invest account. Taking advantage of our referral program is another way to earn money: When you refer someone who becomes an Acorns investor, we’ll put $5 in each of your accounts! Let me know if you have any additional questions or concerns. Have a great day! If you wish to contact Acorns by phone, we are available Monday - Friday, 9am to 6pm PST. You may reach us at: 855-739-2859. If you have any additional questions, feel free to reply to this email and a member of our support team will help you further! Thank you, Tara ============================== Here is a bump in the road.  there is a $1 per month charge on acorns. If I have an account with $120, that means each year the account will be reduced by $12 ($1 per month) or 10% If my account hits $1200, then $12 per year would be one percent, a typical fee that is charged by mutual fund managers. If a student can accumulate $1200 and invest in acorns, then I will recommend the system to the student.  Until then, I can't persuade a student to sign up when I know that 10 percent of the account is being used by fees.  Even $1 a month will erode an account of $120 that has grown by 10%.  IF an account has grown by 10%, then those gains will be erased by the management fee of $1 per month.  I have written to the management of Acorns in the hope that they will provide a one-year deal to help students start saving.  If a student can get up to $1200, saving $100 a month, then they can sustain the $1 a month fee after a year. I hope the management will support this idea.  Until then, I cannot recommend Acorns or any microinvestment app that has a $1 a month fee. Steve McCrea Teacher, Real World Financial Literacy Fort Lauderdale FL  33305 =========================