£50 per month

Lokolo

ozzage wrote: »

There are investment possibilities with that amount but I suspect most people would recommend first building up a cash buffer, probably by using the highest rate Cash ISA that you can find.

Later you can look at branching out when you've got some stored cash and maybe a bit more each month to play with.

I'm open to being corrected!

ozzage - you can invest with that little a month, however because of all the craziness in the stock market you are unlikely to see a decent return. Yes generally the Stock Market goes up above savings but there are blips etc.

So this year (I have been investing 4 months, £100) I have now value of £325 (-£75). But its a longterm thing so in 5 years time I expect that £325 to be around £500 (I hope lol)

ps_live

michaels0211 wrote: »

really starting from stratch, as just paid off all my debt so now want to put spare money to good use

The first port of call is to open an ISA, its tax-free

I'm another who recently cleared debts and wants to save. I opened an ISA online and that'll do me until April next year. I have no chance of putting the maximum £3600 in it from now until then, so it a good option (as its tax-free).

Hope this helps.

ozzage

Note also that not all Cash ISAs are equal. Due to stupidity and not researching things (I'd just arrived in the country) I opened a Lloyds TSB Cash ISA earlier this year which is paying just 4.6%. I am now about to transfer that to another one paying 6.67% for the same amount

Point being: don't just automatically open one with your current bank thinking that they are all "about the same".

ozzage

Lokolo wrote: »

ozzage - you can invest with that little a month, however because of all the craziness in the stock market you are unlikely to see a decent return. Yes generally the Stock Market goes up above savings but there are blips etc.

So this year (I have been investing 4 months, £100) I have now value of £325 (-£75). But its a longterm thing so in 5 years time I expect that £325 to be around £500 (I hope lol)

Indeed. I opened a Stocks and Shares ISA just a week or so ago (with £1000) and lost 10% in two days

Like you, I expect it to go up over the medium and long term though.

paul5046

ozzage wrote: »

Indeed. I opened a Stocks and Shares ISA just a week or so ago (with £1000) and lost 10% in two days

Like you, I expect it to go up over the medium and long term though.

Can you do a shares ISA at £25 per month.