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spare £20 a month to "invest"

Doomcow
Doomcow Posts: 1,729 Forumite
in Savings & investments
right, ok so i see all these "£50k to invest" threads... what about the converse.

i have £300 to invest off the bat, i have £20 per month to invest thereafter.

i have a savings account which i dont want to keep it in, i dont want a monthly saver (lets face it, you miss a payment or want to withdraw and they take the total mick), and my cashISA for the year is at max...

what do i do, being a small time "investor"? thoughts? suggestions?

should i invest it in my local pub?
Mr & Mrs Doomcow Wedding Fund: £10200/£18000 (by 04/2012) (spent £2000)
meiow meiow purr meep merp purr urble purrup :)

requires further financing
«1

Comments

  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    Unfortunately £20 a month isn't really enough to invest. Really requires more than this because of limits and fees.

    As you said, even though you don't want to, saving is the best option.

    Wait until you have more money, maybe around £1000. Or can afford £100 a month, then investing is a viable option.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Go for a monthly saver and make sure you don't miss a payment!
  • Doomcow
    Doomcow Posts: 1,729 Forumite
    fair dos.

    if i did have £1k and £100 a month, what would you suggest then?

    ive tried reading into funds and shares n everything but its pretty complicated
    Mr & Mrs Doomcow Wedding Fund: £10200/£18000 (by 04/2012) (spent £2000)
    meiow meiow purr meep merp purr urble purrup :)

    requires further financing
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    ok shares are invesntments in companies. these are quite risky as you are just putting money into one company, anything could happen.

    Funds are basically groups of shares. They are run by a fund manager. The fund manager spends all your money on numerous shares (many many many) to spread the risk (if company A lost value it would have a miniscule effect etc.). Funds are usually in particular areas, so the FTSE100, Global Growth, Income etc.

    I invest £100 a month in funds (2 funds x£50 each).

    Its basically upto you, but they are longterm. 5+ years. I plan on keeping them until I am 30 to hopefully buy a business (I am 19 at the moment, but in 3 years I plan to put a lot more than £100 a month in!!)
  • p1an0player
    p1an0player Posts: 1,196 Forumite
    not all monthly savers have strings attached

    i think the barclays one is ok, if you miss a payment they don't mind
  • dunstonh
    dunstonh Posts: 121,495 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    There are a handful of fund houses that will do £20pm still. Inv Perp comes to mind as one example. I think M&G do as well. As for singles though, £500 is still the minimum.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    dunstonh wrote: »
    There are a handful of fund houses that will do £20pm still. Inv Perp comes to mind as one example. I think M&G do as well. As for singles though, £500 is still the minimum.

    Everything else I said is right though?

    I think I'm getting good at this :)
  • dunstonh
    dunstonh Posts: 121,495 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Lokolo wrote: »
    Everything else I said is right though?

    I think I'm getting good at this :)

    You didnt see any corrections from me did you? ;)

    I wont need to post soon. You will say it all for me.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Doomcow
    Doomcow Posts: 1,729 Forumite
    lol, thanks.

    dunstonh/lokolo, what does "As for singles though, £500 is still the minimum." mean?
    Mr & Mrs Doomcow Wedding Fund: £10200/£18000 (by 04/2012) (spent £2000)
    meiow meiow purr meep merp purr urble purrup :)

    requires further financing
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    If you want to invest in something as a one off, not a monthly contribution.
This discussion has been closed.
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