Personal Finance · head to head
Wallet vs Acorns
The short version
- Only Wallet has a free tier, so it costs nothing to try first.
- They diverge on capability: Wallet covers Expense tracking, Acorns covers Round-up investing.
Where they differ
Only the attributes on which Wallet and Acorns 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 Wallet
- Expense tracking
- Budget management
- Receipt scanning
- Financial analytics
Only in Acorns
- Round-up investing
- Automated investing
- Portfolio management
- Recurring investments
- Credit cards
- Debit cards
Both cover
- Bank accounts
- Web support
- IOS support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Wallet
- Budget Managementnot Acorns
- Expense Trackingnot Acorns
- Investment Trackingnot Acorns
Acorns
- Automated investing of spare change from everyday purchasesnot Wallet
- Retirement saving through Acorns Later IRA accountsnot Wallet
- Checking and high-yield savings alongside investingnot Wallet
- Custodial investing and debit cards for children through Acorns Earlynot Wallet
- Earning cashback that is invested rather than bankednot Wallet
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Wallet
Nothing recorded yet. See the Wallet review.
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
Pricing, plan by plan
Wallet
Free- FreeFree
- Expense tracking
- Basic budgets
- Premium$4.99/month
- Advanced analytics
- Custom categories
- Receipt scanning
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
Which should you pick?
Choose Wallet if
- You need expense tracking.
- You want to start without paying.
- You work on Web, IOS, Android.
- You also want budget management.
Choose Acorns if
- You need round-up investing.
- You work on Web, IOS, Android.
- You also want automated investing.
Questions people ask
- Is Wallet or Acorns better?
- Neither clearly leads. Wallet starts at Free and Acorns at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Wallet or Acorns?
- Wallet has a free tier; the other does not. Paid plans start at Free for Wallet and On request for Acorns.
- Does Wallet or Acorns run on more platforms?
- Both run on Web, IOS, Android, so platform support will not decide this one for you.
- Can I use Wallet for free?
- Yes. Wallet has a free tier, so you can try it without paying. Acorns starts at On request.
- What is Wallet best used for?
- Wallet is most often used for budget management, expense tracking, investment tracking. Of those, budget management and expense tracking are not what Acorns is typically brought in for.
- What can Wallet do that Acorns cannot?
- Wallet covers Expense tracking, Budget management, Receipt scanning, Financial analytics. Acorns covers Round-up investing, Automated investing, Portfolio management, Recurring investments. Both handle Bank accounts, Web support, IOS support, Android support.