Updated: Jan 2, 2020
The last few years boom in fin-tech innovation have brought a range of apps and services making investing accessible and easy. In combination with the upsurge in personal finance blogs - many of them targeting women - we have everything we need to manage and grow our heard earn money. However, numbers are showing a different story. Why don't more people start growing their money on the stock market?
Myth: It's unstable
Although the stock market is unpredictable, we know that it historically has grown, by on average 9 per cent per year. No bank interest would match that! Buying index funds is a relatively safe investment, and many services allow you to set a risk level you're comfortable with.
Myth: You need to be a millionaire to invest
With many of today's investment services, you can start by investing as little as £5. However, seeing how much they could grow over 10 years might make you want to invest more!
Myth: It comes with high fees
Not at all! If you set up a brokerage account yourself, you can buy stocks and shares for free. If you use investment apps such as Moneybox, Nutmeg or Wealthify, they might charge you a small percentage i.e. 0.45 per cent. If you invest for the long-term and grow let's say 9 per cent a year, the growth will by far make up for the fee.
We are not certified financial advisers! The articles and information made available on Zero Time to Waste are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.