Acorns app will round up the spare change from your purchases and invest it automatically—no minimum balance required

Intimidated by the idea of investing? Acorns is a sleek, free app that can turn your spare change into investments, automatically.

Link the app to your bank account and allow it to start doing all the work. Acorns will track your debit and credit card purchases and round up transactions to start investing the change. (If your latte costs $3.60, Acorns will put the $0.40 toward your investment portfolio.)

The app currently has six pre-set portfolio options that range from low to high risk, designed by Nobel Prize winning economist Dr. Harry Markowitz. Not sure of your investment strategy? Take a quiz on the Acorns site. It will recommend an ideal portfolio for you, based on age, investment goals, income, and other factors, though you can always opt for something different or change it later.

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