Deciding which option is right for you
The choice between holding cash in a savings account and investing could have a big impact on your future. When you invest, you hope for greater returns than you can get from a savings account but you also have to accept that you could get back less than you put in.
Start by taking a close look at your finances and your commitments to work out where you are now, and where you want to get to.
Are you ready to invest?
Before you start investing it’s important to consider if:
You’ve paid off any debts like credit cards or loans
You have sufficient savings you can access in emergencies
Now you can start to think about how much you can afford to put away – and whether you’re comfortable with the risks.
Give your money time to grow
The sooner you’re able to start investing, the longer your money has a chance to grow.
You don’t need a big lump sum to get started, putting money away regularly can make a big difference in the long-term.
If you’re not sure whether to save or invest, learn more about the differences between the two.
Move on to step two below
Or if you're ready