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Acorns vs Simplifi

Acorns logo

Acorns

Software

Invest your spare change

From
On request
Rated
-
Full reviewWebsite
S

Simplifi

Software

Smart budgeting and spending tracker

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Acorns a flat monthly subscription regardless of balance, so $3 a month on Bronze is a heavy percentage on a small account; Simplifi there is no free tier at all
  • They diverge on capability: Acorns covers Round-up investing, Simplifi covers Budget tracking.

Where they differ

Only the attributes on which Acorns and Simplifi actually diverge.

Attributes where Acorns and Simplifi differ
AttributeAcornsSimplifi
Founded20122020

Identical on both: starting price (On request), pricing model (subscription), free tier (No), platforms (Web, IOS, Android), user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Acorns

  • Round-up investing
  • Automated investing
  • Portfolio management
  • Recurring investments
  • Debit cards

Only in Simplifi

  • Budget tracking
  • Spending analysis
  • Goal tracking
  • Cash flow insights

Both cover

  • Bank accounts
  • Credit cards
  • Web support
  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Acorns

  • Automated investing of spare change from everyday purchasesnot Simplifi
  • Retirement saving through Acorns Later IRA accountsnot Simplifi
  • Checking and high-yield savings alongside investingnot Simplifi
  • Custodial investing and debit cards for children through Acorns Earlynot Simplifi
  • Earning cashback that is invested rather than bankednot Simplifi

Simplifi

  • Personal budgeting with automatic bank transaction importnot Acorns
  • Tracking spending, savings goals and net worth in one placenot Acorns

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Acorns

  • A flat monthly subscription regardless of balance, so $3 a month on Bronze is a heavy percentage on a small account
  • The emergency savings account and the 1 percent IRA match need Silver at $6 a month
  • Custom portfolios, Acorns Early for children and Money Manager are Gold tier only at $12 a month
  • There is no free tier

Simplifi

  • There is no free tier at all
  • The advertised $3.99 a month requires annual billing, against $6.99 paying monthly
  • The subscription auto renews yearly at the then current price, which the terms state is subject to change rather than fixed

Pricing, plan by plan

Acorns

On request
  • Lite$4.99/month
    • Round-up investing
    • Automated portfolio
  • Plus$9.99/month
    • All Lite features
    • Checking account
    • Dollar-based investing
  • Premier$19.99/month
    • All Plus features
    • Premium investing

Simplifi

On request
  • Monthly$5.99/month
    • Budget tracking
    • Spending insights
    • Goal setting
  • Annual$59.99/month
    • All monthly features
    • Discounted rate

Which should you pick?

Choose Acorns if

  • You need round-up investing.
  • You work on Web, IOS, Android.
  • You also want automated investing.
Acorns review

Choose Simplifi if

  • You need budget tracking.
  • You work on Web, IOS, Android.
  • You also want spending analysis.
Simplifi review

Questions people ask

Is Acorns or Simplifi better?
Neither clearly leads. Acorns starts at On request and Simplifi at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Acorns or Simplifi?
Acorns starts at On request and Simplifi at On request.
Does Acorns or Simplifi run on more platforms?
Both run on Web, IOS, Android, so platform support will not decide this one for you.
What is Acorns best used for?
Acorns is most often used for automated investing of spare change from everyday purchases, retirement saving through acorns later ira accounts, checking and high-yield savings alongside investing, custodial investing and debit cards for children through acorns early. Of those, automated investing of spare change from everyday purchases and retirement saving through acorns later ira accounts are not what Simplifi is typically brought in for.
What can Acorns do that Simplifi cannot?
Acorns covers Round-up investing, Automated investing, Portfolio management, Recurring investments. Simplifi covers Budget tracking, Spending analysis, Goal tracking, Cash flow insights. Both handle Bank accounts, Credit cards, Web support, IOS support.
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