THIS IS THE YEAR TO GET INVESTING!

Why? Investing in the stock market will give your money the potential to grow faster than in a savings account. Here’s some simple advice to get you started...

YOU DON’T NEED MONEY TO MAKE MONEY

For your first foray into investing, start with a stocks and shares ISA – small amounts put regularly into one of these will grow over time. The easiest way is to set up a monthly standing order from your bank account into the ISA of your choice. Compare stockmarket ISAS at moneyfacts.co.uk.

APPS MAKE IT EASY

It’s easier than ever to try thanks to the new breed of investment apps, such as Moneybox or Wealthify. Moneybox rounds up everyday spending and moves the ‘small change’ into investing. So if your lunch cost you £12.10, 90p would be invested. Wealthify lets you start with just £1.

WANT TO INVEST MORE?

You can pay someone to invest for you or pick your own investments. Paying for financial

advice means you get genuinely independent views. It’s likely to cost £100-£150 per hour, although the first consultation is usually free. Find fully independent advisers near you at unbiased.co.uk or vouchedfor. co.uk. If you want to pick your own investments, an easy way to do this is via an online platform. See which platform might be best for you at comparetheplatform.com.

GET THE KNOWLEDGE

Check out stepstoinvesting.com. And, for a little bedtime reading, try Alvin Hall’s brilliant book The Stock Market Explained.

THREE THINGS TO REMEMBER BEFORE YOU START…

Have at least three months’ income in an easy-access account for emergencies; the value of your investments can go up or down; never put all your (investment) eggs in one basket.