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Investing for beginners
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thank you i will keep that in mind for when i have £500My 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 beauty0 -
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. £79750 -
What do you intend using the money saved for? Do you currently contribute to a pension scheme?0
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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 beauty0 -
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. £79750 -
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.0
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