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Are Spare Change Investment Apps Worth Your Time and Money?

Are Spare Change Investment Apps Worth Your Time and Money?

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Have you ever been to a place that asked if you wanted to “round up” your total to benefit cause “X” r cause “Y”? What if I told you that investing in YOUR future could be that easy? Today I want t talk about spare change investments apps! Investing benefits not only yourself but the economy as well. However, the majority of people never do it. In fact, according to a survey, 40% of millennials believe that they need to have a big fortune to become investors.

In a way, they aren’t wrong. It’s true that in order to get good returns you need to invest a large amount of money.

Are Spare Change Investment Apps Worth Your Time and Money?

However, there are ways to start small. Spare change investment apps are the foremost of them. These apps allow you to automate your investment completely. As the name states, they will round up the change and put it to work. These apps are rather affordable and often offer some interesting perks. But assessing them from an investor’s point of view means you need to understand both strengths and weaknesses of these solutions.

How Do Round-Up Investment Apps Work?

Round-up investment apps are rather simple. You link your card to them and they round-up the change from every transaction. Then, they take this change to invest in ETFs. You can choose different types of accounts depending on the app.

Also, these apps offer several types of service packages. Your choice will determine the risk of your investment and some other factors. Every offer is unique, so be sure to study it thoroughly.

Although similar in principle, spare change investment apps are versatile in their features, especially perks. For example, Acorns, which is one of the first such apps, offers you a chance to make micro-investments and also use Acorns Earn. This feature allows you to earn bonus investments from shopping with affiliated brands. Also, it can help you find a job. Canadian Moka, featured on Dragon’s Den offers several efficient investment plans and Moka Perks. The Perks give you cashback for shopping with partner brands. It also offers an advisor service if you want to improve your money management skills.

Are Spare Change Investment Apps Worth Your Time and Money? Apps picture

Note that while they are similar enough to consider spare change investment apps a type of robo advisors, they are still different from those investment solutions. With round-up apps, the entire process is 100% automated. However, robo advisors require more of your input and often have a minimum account balance requirement. Overall, they are a much more sophisticated solution for those who want to take investing seriously. The returns you can get by using robo advisors are much higher.

However, you will need a measure of self-control to use these apps. Round-up investing apps are completely automated. Therefore, they can help you save money if you struggle with self-discipline.

Small Change Investment Apps Pros and Cons


  • You can start investing with pennies.
    The main benefit of spare change investment apps is that they prove you don’t have to have a fortune to be an investor. There is no minimum limit requirement for them and you can invest as little as you have.
  • You can use them to save money.
    These apps are more focused on saving than really providing investment returns. The point of them is to build up savings automatically.
  • The apps are simple to use.
    Every round-up investment app is simple and will basically run itself.
  • The fees are low.
    The majority of these apps cost only around $3 a month for a standard account.


  • You don’t really get ROI.
    The truth of the matter is that when you invest little, you get little. Therefore, you can’t expect to really build up your pension fund from these apps. You might actually make only a few dollars a year in ROI. That’s why it’s more about their value for saving as opposed to making money.
  • Fees can be large.
    Even $3 a month can be a big fee if you only save a couple dozen dollars a month. Of course, if you save over $300 a month, the annual fees will sum up to about 1%. This would be a good deal. But if you save less, the app might be too expensive to be useful.
  • Account and investment options are very limited.
    There are only a few account types to choose from and more flexible ones will be more expensive. As your ROI will never be high with these apps, they might not be worth it at all. Also, you get no say in what ETFs to invest in.

Are Spare Change Investment Apps Worth It?

All things considered, there is no denying that round-up investment apps can be helpful. If you use them reasonably often (meaning you have enough change in a month to make it worth saving), these apps are great. They are especially beneficial for people who struggle saving money regularly. This app can be a good start to help you improve your money management.

Are Spare Change Investment Apps Worth Your Time and Money? Investments picture

On the other hand, the investment value of these apps is low. They won’t bring you much money, if any at all. Of course, the risks are low and you are unlikely to lose anything beyond the $36 of the annual fee.

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