Personal Finance · head to head
Acorns vs Splitwise
The short version
- Only Splitwise has a free tier, so it costs nothing to try first.
- 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; Splitwise the free tier limits how many expenses can be added in a day and shows adverts
- They diverge on capability: Acorns covers Round-up investing, Splitwise covers Bill splitting.
Where they differ
Only the attributes on which Acorns and Splitwise actually diverge.
Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated), category (Personal Finance).
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
- Bank accounts
- Credit cards
- Debit cards
Only in Splitwise
- Bill splitting
- Expense tracking
- Group management
- Settlement tracking
- Venmo
- PayPal
Both cover
- 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 Splitwise
- Retirement saving through Acorns Later IRA accountsnot Splitwise
- Checking and high-yield savings alongside investingnot Splitwise
- Custodial investing and debit cards for children through Acorns Earlynot Splitwise
- Earning cashback that is invested rather than bankednot Splitwise
Splitwise
- Splitting shared household bills between flatmatesnot Acorns
- Tracking who owes what on a group tripnot Acorns
- Settling up across currencies on the Pro plannot Acorns
- Recording IOUs between friends over timenot 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
Splitwise
- The free tier limits how many expenses can be added in a day and shows adverts
- Transaction import works in the United States only
- Currency conversion, receipt scanning, charts and expense search are all Pro features
- The Pro price is not shown on the product page
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
Splitwise
Free- FreeFree
- Bill splitting
- Group tracking
- Mobile app
- Splitwise Pro$4.99/month
- Receipt scanning
- Advanced analytics
- No ads
Which should you pick?
Choose Acorns if
- You need round-up investing.
- You work on Web, IOS, Android.
- You also want automated investing.
Choose Splitwise if
- You need bill splitting.
- You want to start without paying.
- You work on Web, IOS, Android.
- You also want expense tracking.
Questions people ask
- Is Acorns or Splitwise better?
- Neither clearly leads. Acorns starts at On request and Splitwise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Acorns or Splitwise?
- Splitwise has a free tier; the other does not. Paid plans start at On request for Acorns and Free for Splitwise.
- Does Acorns or Splitwise run on more platforms?
- Both run on Web, IOS, Android, so platform support will not decide this one for you.
- Can I use Splitwise for free?
- Yes. Splitwise has a free tier, so you can try it without paying. Acorns starts at On request.
- 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 Splitwise is typically brought in for.
- What can Acorns do that Splitwise cannot?
- Acorns covers Round-up investing, Automated investing, Portfolio management, Recurring investments. Splitwise covers Bill splitting, Expense tracking, Group management, Settlement tracking. Both handle Web support, IOS support, Android support.