Student long term saving/investment

kieran936

Hi,
I am a student who has been saving up all year for a 'holiday fund' but i currently am predicting around £1000 left over after and want to increase that for a future.
I have been reading around the idea of investing money into stocks and shares isas or into an oeic fund but am unsure what is best. I also was going to set up a LISA separate to this idea.
I would not be putting much time/effort into the investments but could still do monthly investments if required too.
Any advice would be greatly appreciated.
Thanks, Kieran

Mogley

One thing you could do if you eventually aspire to own your own home in the future (preferably > 5 years time) is to invest in a stocks and shares LISA. You have the benefit of the government bonus plus the potential growth associated with investing in stocks and shares. There is a limit to the amount you can invest here though but you don't say how much you will be investing on a monthly basis.

You should do some research on the type of investment that bests suits your risk profile and also the terms and conditions of LISAs.

If you find a fund platform that provides LISAs and has funds like the Vanguard Lifestrategy series, one of these types of multi asset funds would suit your time/effort limitations.

Voyager2002

Don't mess about with stocks and shares unless you have a budget of more like ten thousand pounds.

I suggest that you save the money for a future trip and/or to cover the costs of starting a graduate job (moving to a new area; place to live; suit for work...). In which case the simplest solution is to use one of the current accounts that pay decent interest: the Tesco bank current account now pays 3 per cent, and you can simply put your money in there and forget about it until you need it.