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Advice for a new investor
megalodon1996
Posts: 1 Newbie
Hiya,
I have just graduated from university and am have £1,500 in savings that I am looking to invest. I saw an advert for the app 'Moneybox' and was wondering whether that app is a good place to start or whether I should be looking to invest using a stocks and shares isa on a more established platform. Any advice for a new investor would be much appreciated! Thank you!
I have just graduated from university and am have £1,500 in savings that I am looking to invest. I saw an advert for the app 'Moneybox' and was wondering whether that app is a good place to start or whether I should be looking to invest using a stocks and shares isa on a more established platform. Any advice for a new investor would be much appreciated! Thank you!
0
Comments
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One of the first questions asked on here of anyone considering investing is: have you built up an emergency fund of readily-accessible cash that would cover 3-6 months worth of outgoings?
Even if that is the case then it's prudent only to invest money that you know you won't need for at least five and preferably more than ten years, so you'd be well advised to think about your financial plans for that period, especially when most will be considering getting onto the housing ladder.
However, if you do end up investing that money rather than saving it, then yes, use a mainstream S&S ISA platform (offering a wider range of products at a lower cost) rather than Moneybox....0
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