How should I invest

christian_white

Hello,

I've been using a moneybox S&S ISA for a few months now, investing £100/month and plan to for the foreseeable future (5+years). I've seen a lot of negativity about the app in different threads - what are the reasons for this?

And if it isn't as good as advertised, do you have any recommendations of platforms that would be good to drip-feed money into monthly?

I appreciate this may be an impossible question and it's down to people's opinions... but what's yours? Thanks !:money:

eskbanker

As you should have seen on the other threads, its main competitive disadvantage is its cost.

Fortunately there are numerous ways of comparing platforms based on their cost, and most of them will accept monthly contributions of £100:

http://monevator.com/compare-the-brokers/
http://www.comparefundplatforms.com/
https://forums.moneysavingexpert.com/discussion/5583030

Alexland

Yes for a S&S ISA moneybox have an expensive fee structure at £1 per month + 0.45% per year. This is over three times the cost of Vanguard Investor at 0.15%

You can buy funds on Vanguard Investor (such as the well regarded LifeStrategy series) for a similar cost to the Moneybox funds. The minimum monthly contribution for their regular plan happens to also be £100 per month.

Secondly some of us believe the round up gimmick is fundamentally wrong as (1) it encourages you to spend to save and (2) financial planning should be about matching your objectives with your ability to pay - not just investing random numbers.

Alex