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Resources to get started with investing?

(11 Posts)
Lilylo Wed 30-Mar-16 15:31:26

Hi all, I am looking to get started with investing soon. I have around 20k in savings and I don't want to let it is in my bank account with no interest rate whatsoever.

I know nothing about this. So I am talking to you, more experienced (in financial stuff) Mumsnetter: please share with me the books, blogs, tips and resources that helped you get started with investing! Any advice is welcomed.

Many thanks smile

Sp1nsterNoLonger Sat 02-Apr-16 20:52:47

Someone on here recommended Monevator which I also read now.

Piemernator Sat 02-Apr-16 21:05:40

If this is your only money then I wouldn't do anything too risky at all.
Main mantra only make any risky investments if you can afford to lose it and look at it all as very long term. Will you need access?

If you wanted to not risk it at all you could stick it in a Santander current account. Plus tax regs on savings are changing in a few days so unless you are a higher rate tax payer it's improving. Nothing amazing at the minute, gone are the days when I made a 20% return.

Look at the money saving expert investments forum. Remember if it seems too good to be true then it is.

Lilylo Sun 03-Apr-16 12:36:38

piermenator yes it is my only money but keep in mind I am only 25 so supposedly my savings will keep growing! I put aside around £1500 a month, so the pile should grow fairly quickly.

I probably will need access to a part of it in case of emergency (let's say £5k), the rest could be locked away for a while.

I took a look at Lloyds saving account options and honestly they did not look great..

FanSpamTastic Sun 03-Apr-16 12:50:58

You can get some good rates by investing a regular savings amount each month - but these tend to only last for a year and then move into a lower rate savings account. I "recycle" the same money and move it from my long term savings to current account to the high interest regular savings account! It's a bit of a faff but earns more interest then leaving it in the half per cent account!

LineyReborn Sun 03-Apr-16 12:53:18

I'd look at putting that £20k in a Santander 123 current account, for a start.

caroldecker Sun 03-Apr-16 12:54:02

You should look at ISAs. You have just enough time to start one this tax year (prior to 7 April) for £15k and then start a new on each year for your other savings. The Sunday Times money section is good.

caroldecker Sun 03-Apr-16 12:55:54

Over the longer term, stocks and shares, with dividends reinvested, will probably make the best return - I would recommend a low cost tracker fund, and with a small amount with exposure to the US and China.

xenu1 Sun 03-Apr-16 13:59:36

> I'd look at putting that £20k in a Santander 123 current account, for a start.
+ 1. You need to put in £500 per month and have 2 or more direct debits. The Santander 123 a/c will pay 5% on up to £20, and that's now tax-free. You will be charged £5per month for the a/c, but you should get £80 per month. That's far and away the best rate around. Not sure how long it will last but theres no restriction on withdrawals.

xenu1 Sun 03-Apr-16 14:01:12

Otherwise drip-feed monthly amounts (£200?) into a shares isa. Check out Hargreaves Lansdowne. But if you just have 20k the 123 is excellent

xenu1 Mon 04-Apr-16 14:53:35

Sorry but quick correction - 3% on amount from 3k to 20k. You get cashback on the direct debits too.

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