Invest in your friendships

Starting an investment club is the new hot way to make money and have fun doing it…

‘JOINING AN investment club is the best thing I’ve ever done for my finances,’ says Lucy, 30, from Manchester. ‘I didn’t know anything about the stock market but my friend wanted to start one and once we all started talking money it didn’t feel as intimidating. We’re all paying in about £50 a month to fund a girls’ trip to Vegas!’

According to research, more than half of UK women have never invested. Why? A lack of confidence. But with more women than ever starting investment clubs with stockbrokers like The Share Centre, it’s proving to be a great introduction into the stock market while also having fun with your friends.

‘The best thing for me is we’re learning about investing together, so there’s a shared sense of excitement about the future rather than me sat trawling through books filled with jargon,’ Lucy says. While her group are saving for a holiday, others have used their funds for renovations or weddings.

So where do you start? ‘First, form a club of eight to 20 members to ensure you have enough money to invest but not too many cooks in one kitchen,’ says The Share Centre’s Lucinda Gregory. ‘Try to find people with a range of experiences and then assign roles. Each club should have a chairperson, a treasurer and secretary. Meet at least once a month, make monetary contributions to the fund each month, and agree an investment strategy that you can change and shift through trial and error. Communication is key, all members should be monitoring performance and talking about it. Ultimately it’s all about learning together as you go – making the world of investing feel less daunting and a lot more fun too!’