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Investing for beginners

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  • emma108pd
    emma108pd Posts: 40 Forumite
    Ninth Anniversary 10 Posts
    thank you i will keep that in mind for when i have £500 
    My challenges
    Holiday to Florida £0/25,000
    Savings £0/£10,000
    House £0/£200,000
    House repair £0/£20,000
    debt 0/733.85
    these are just goals hope to meet them if not it is ok
    Starting a new journey I have started training to build myself up I have loads of ideas
    Studying hair and beauty
  • jennystarpepper
    jennystarpepper Posts: 787 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    edited 17 July 2021 at 6:25PM
    Just further throught for you, on this board someone asked the same sort of question as you (28th Jan) and it made for very good reading.  

    Maybe have a look through the board and do some more reading, especially about investing and trading as I'm not sure you fully understand the difference, (just with you saying you want to do both).  Someone commented that about 75% of traders make a loss.

    But yes, having a 'play' with a few ££ won't hurt.
    MFW - 01.10.21 £63761   01.10.22 £50962   01.10.23 £39979   01.10.24 £27815. 01.01.25. £17538
    01.03.25 £14794.    01.04.25 £12888
    01.05.25. £11805. 12.05.25  £9997
    05.06.25  £8898.  01.07.25. £7975

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    What do you intend using the money saved for? Do you currently contribute to a pension scheme? 
  • emma108pd
    emma108pd Posts: 40 Forumite
    Ninth Anniversary 10 Posts
    My partner has a pension scheme but i am home looking after children 
    I would like use to go on holidays and stuff i may need in the future as i can not return to work
    not saying would make loads of money

    i will look through the board see what i can come up with see i am not sure what to do really am learning bits watch YouTube videos yeah i don't at the moment that is why i am trying to learn all i can before i jump in 

    but since i started this my partner has signed up to kraken and having a go at crypto currency if only he knew how to add funds


    My challenges
    Holiday to Florida £0/25,000
    Savings £0/£10,000
    House £0/£200,000
    House repair £0/£20,000
    debt 0/733.85
    these are just goals hope to meet them if not it is ok
    Starting a new journey I have started training to build myself up I have loads of ideas
    Studying hair and beauty
  • Maybe it's an idea to set up a SIPP, you can add bits to it...it's really important you have a pension for yourself, I'd make this a priority before you do anything else.  
    MFW - 01.10.21 £63761   01.10.22 £50962   01.10.23 £39979   01.10.24 £27815. 01.01.25. £17538
    01.03.25 £14794.    01.04.25 £12888
    01.05.25. £11805. 12.05.25  £9997
    05.06.25  £8898.  01.07.25. £7975

  • letsbetfair
    letsbetfair Posts: 961 Forumite
    Part of the Furniture 500 Posts Name Dropper
    You mention crypto. From your position, this is gambling rather than investing - look on it as taking a punt on a particular horse winning, rather than investment.

    More 'boring' approaches like investing in a pension fund for you are likely to give better returns over time than more active trading. There's a summary of some of the issues here https://www.cnbc.com/amp/2020/11/20/attention-robinhood-power-users-most-day-traders-lose-money.html If you're just wanting the experience/fun of trading small amounts you can afford to lose, there's no harm in that though.
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