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Invest in You

  • Invest in You

    Simple changes to how we plan our financial future can have a big impact

We all know money can’t buy happiness, but it sure can alleviate some of life’s worries. Monday 21 January was ‘Blue Monday’, so called due to the alignment of poor weather, debt levels, Christmas being a distant memory, failing new year’s resolutions and low levels of motivation. Improving our relationship with our money can have a positive impact on overall wellbeing.

Our relationship with money affects our wellbeing, it’s something we think about every day and influences our options and choices. Planning for the financial future is perhaps one of the biggest worries people have – for example buying a first home or there not being a state pension to rely on by the time we retire, but there are things you can do to make a positive difference to the way you think and feel about your finances. Here are some of our top tips.

Believe in your abilities

Investing isn’t for everyone, but it’s not as difficult and scary as it may seem. Whether you’re saving for your first home, children’s school fees, retirement or just for a rainy day, investing is a great way to get there. Plus, interest rates aren’t going anywhere quickly so you need to be smart to get the most out of your cash.

Be patient

Investing is designed for the patient and unruffled. Nobody makes their fortune overnight and so you need to be prepared to ride the highs and lows of the markets over the course of a number of years.

Have goals

So you’re not an investor because you are looking to buy an expensive pair of shoes or a holiday. Often there isn’t a particular item in mind but being clear on what you want and how your happiness and financial situation are aligned is important, otherwise what’s the point? Plan out where you want to be in 3 years, 10 years and even 20 years.

Take control

The world is changing at a rate of knots and so you can’t expect old investments to remain right for you. Be aware of what you are invested in, think about what you’re saving for, when you need to realise your investment, check that your portfolio chimes with your ethical compass, and feel empowered to make changes where needed. If you make any changes to your risk profile then remember the value of investments can fall as well as rise and any income from them is not guaranteed.

Drip feed

Investing a large chunk of your savings is scary, and is certainly not something you should consider lightly. A good way to invest is to drip feed into your stocks and shares ISA, you can do this from just £10 per month, psychologically this often feels better, and it leaves you less vulnerable to market highs and lows.

Make your cash work for you

If you have cash sitting in accounts, make it work a bit harder for you and put it into a stocks and shares ISA. You don’t have to invest right away, but if you want to make the most of your ISA allowance then do it before the 5 April deadline and then add some more from 6 April when you have your new allowance. You don’t get to carry the allowance over so it’s use it or lose it - and when you feel ready to start investing, you’ve maximised your savings.

Celebrate the little wins

We all need to get better at celebrating life’s little wins, and we should be applying this to our finances as well. If you’ve placed dry-January’s beer money into your stocks and shares ISA, pat yourself on the back! If you’ve picked a stock that’s overperformed, congratulations! Any step towards those big goals, no matter how small, is a win.

Blue Monday may suggest we all spend today feeling gloomy but in fact psychologist Cliff Arnall, responsible for the formula, said that his intention was actually to “inspire people to take action and make bold life decisions".

So don’t get swept up in the doom and gloom of Blue Monday, think about how you can be proactive in managing your finances and get 2019 off to a positive and empowered start.

 

Selftrade from Equiniti. Intelligent Investing.

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  • Your money is secure

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  • Competitive pricing

    Ranked #1 for pricing by Platforum (large portfolios)

  • Award-winning content

    ‘Best Investor Education 2018’ from Shares Magazine

  • Up to £100 cashback

    For each account you transfer to Selftrade

  • Your money is secure

    Authorised by the FCA and backed by Equiniti, a FTSE 250 listed company

Take advantage of tax-free investing with a Selftrade Stocks and Shares ISA

Open a Stocks and Shares ISA with us and you get to deal in shares and funds online and build a portfolio as part of your annual tax-free ISA allowance.

You can invest £20,000 per year and any gains are free from Capital Gains Tax or any additional income tax on the dividends.

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