What to do with spare £100-150 PM

Jay_G_5

Well first off, thanks for looking in

I will have about £100-150 spare each month, this is money from overtime/on call which would normally be pee'ed up the wall so was looking to do something more useful with the cash .
Not overly fussed if some of the money is lost, but not sure what my best options are, after reading about stocks and share it seem they advise for a min investment of £1000

:beer:

Aegis

You'll be fine starting a stocks and shares ISA with as little as £50 a month. Hargreaves Lansdown certainly allow that as their minimum per fund, so you can access a wide range with pretty good discounts on the charges.

opinions4u

Overpay debt.

Regular saver account such as First Direct's 8% option (and then consider progressing to a stocks and shares ISA on maturity).

Building up a pension pot.

A stocks and shares ISA - many will accept regular contributions. Look for a suitable fund with a low charging structure (e.g. not bought via a bank).

Jay_G_5

Sorry I should of said that I don't have any debt, but have a very poor credit file.

united66

Stocks and Shares ISA would be the best route IMO as per the previous posters. Just stick 75 pound a month into one if you can, you should get good results depending on how it is used.

Jay_G_5

Will have to have a look at some of the funds they do, I'm guessing it’s rather a lot. This is an area I've not ventured before; normally blow my spare cash on rubbish and at 23 it’s about time to sort myself out :j

jimjames

As a starting point the HSBC range of tracker funds have low charges and give you access to many of the markets across the world. You can start in the UK and then spread your selection further afield like USA, Europe or Far East all with trackers.

HL also offer a Wealth 150 selection of funds but some suggest that these are more for marketing than for being the best funds in those sectors and no tracker funds are featured on them.

DavidHayton

jimjames wrote: »

HL also offer a Wealth 150 selection of funds but some suggest that these are more for marketing than for being the best funds in those sectors and no tracker funds are featured on them.

ooooh you are cynical!

Always_smile

ISA's would be the investment choice but just to give you other things to think about:-

Private medical Cover
Accident and sickness cover
Critical illness
Life cover

How would your situation change if you were unable to work? I know these aren't alway the things that people want to discuss but they are important.

Yorkie1

Always_smile wrote: »

ISA's would be the investment choice but just to give you other things to think about:-

Private medical Cover
Accident and sickness cover
Critical illness
Life cover

How would your situation change if you were unable to work? I know these aren't alway the things that people want to discuss but they are important.

Or possibly a pension?