Saturday, 6 January 2018

Starting small scale investing

Entering 2018 I'm looking to grow my income, after the obvious-but-shocking realisation that with UK inflation consistently above 2%, and my savings interest rate consistently below 0.5%, my savings are doing a great job of actually losing me money every month.   One way I'm trying to rectify this is to put some of my money into investments.  After searching around for a way to start small, and not have to put in thousands, or tens of thousands of pounds, I found a site called eToro.  Excitedly I signed up, only to be disappointed to find on first impression it's much like any other investment site or fund, in that there's (large) minimum amounts to invest in stocks or shares, etc.

However one interesting thing they allow you to do is piggyback on other people's trades.  In doing so you can get involved for only 100USD.  It's not pennies, but it's not thousands or pounds either.  Safe in the knowledge I've got an emergency fund in an instant-access savings account, I've decided to have a dabble.  Thanks to the ability to invest in crypto-currencies as well as stocks and currency pairs, investment returns seem to be well over the 0.5% I'm getting at the bank.  In copying other people you can spread your risk, and rely on the fact that the people you're copying almost certainly know more about it than you do.  This is not investment advise, your money is at risk, etc, etc.

If you're interested, you can sign up here, and maybe follow me.