In an economic climate where bills, debt, and "buy now, pay later" services strain household budgets, achieving financial wellness can feel out of reach for many. To address this, Acorns, the financial wellness app, has launched Money Manager, a fully automated tool designed to put users' money to work the moment it hits their account. The tool automatically splits customer deposits across savings, retirement, spending, and investing categories, using expert-built allocations to eliminate the manual stress of financial management and build long-term security.
Quick Intel
Acorns launches Money Manager, an automated financial allocation tool.
It automatically splits deposits into savings, retirement, spending, and investing.
Early users are saving an average of $693 per month for emergencies.
They are also investing $175 per month for retirement, automatically.
The tool aims to reduce reliance on short-term borrowing like BNPL and credit cards.
It represents Acorns' evolution from micro-investing to a full financial wellness system.
Automating Financial Wellness
Money Manager is designed to learn a customer's financial life and goals, suggesting which accounts to open and then automatically allocating deposits among them. This "set-and-forget" approach is intended to make long-term savings automatic, thereby reducing the need for high-cost, short-term borrowing options. The goal is to transform financial management from a source of stress into an automated system for growth, ensuring every dollar is strategically put to work toward future milestones without requiring daily user intervention.
"For too long, managing money has been stressful and manual," said Noah Kerner, CEO and Chairman of Acorns. "We built Acorns Money Manager to automate the process of financial wellness so people can stop worrying about their money and start growing it."
Demonstrating Early, Tangible Impact
The early results from users with access to the tool demonstrate its potential to close critical financial gaps. On average, these users are saving $693 per month for emergencies—a figure that already surpasses the national median emergency fund of $600. They are also automatically investing $175 per month for retirement, addressing a market where 40% of Americans lack any retirement savings. By automating the allocation of funds, Acorns is positioning Money Manager as a pivotal step in its evolution from a pioneer of micro-investing into a comprehensive financial wellness system that actively builds user security.
Acorns is a financial wellness app that helps everyday people and families save and invest money for the long term. Since 2014, Acorns has grown into a global company with multiple life stage products serving the needs of kids, teens, adults and parents. Named one of TIME's "World's Best Brands of 2024," Acorns has served over 14 million people, and helped customers save & invest over $27 billion dollars, much of it from spare change and small amounts.
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