October 27, 2016

Start Saving and Investing With Just Your Spare Change

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So I’ve been using an app and I feel like it’s the Internet’s best kept secret at the moment. 

It’s to do with money money money MONEY.

The M word.

As someone who is self-employed and has lots of different income streams my month can either be AMAZING or a bit “meh” depending on what I’ve got planned, whether I’m on holiday and physically don’t earn for a few weeks, or if it’s just a slow month industry-wise. I love working for myself, but whether you’re self-employed or are an employee for a big or small organisation, money matters. And getting good at organising your money certainly helps with the late-night headaches.

Of course each month can be different depending on your outgoings (and hello Christmas I see you creeping) but at least Moneybox can help make saving consistent each month.

And of course I’m not talking about saving loads, I always fail at that because living in the moment always wins, but a saving small bit here and there can really make me feel like I’ve got my life a little bit more together. Saving little and often creates a habit which you can then build upon once you have a little more to set aside.

I’ve written a bit about money before, about one of my pet hates which is when people say “don’t think about money! Just do what you love!” No….no. We all need money. Money gives us freedom and even though it doesn’t “buy” happiness, it buys us choices and can help us sleep better at night.

So I wanted to share with you something I’ve discovered recently which is a new app called Moneybox.

I met the founder Ben at a panel (which we were both part of) about money and millennials earlier this year.

He said: “My team and I have founded an app that rounds up your digital spare change when you buy something and allows you to invest it into thousands of companies from all over the world via three simple funds.”

Immediately, obviously, I thought this was genius. It’s like a digital piggy bank. Why wouldn’t I want to save money while going about living my normal daily life? I wouldn’t notice a few quid here and there disappear and go into savings – so to have an app do it for you, is ace.

There’s so much chat recently about pensions, and well, the lack of. I interviewed award-winning journalist Miranda Sawyer for my podcast recently who is nearly 50 and she bluntly said: “look, no one has a pension.”

She was talking about her and her mates and it made me think: does anyone REALLY have a big pension or saving account? I’m guessing not. The fact that most millennials are scraping by in a world where the housing market is collapsing, our student loans aren’t shifting and the price of milk is going up (I don’t know if that’s true, it just feels like the whole world is against us financially). But this app feels empowering: an easy useful chance to starting saving and investing.

So, Moneybox.

You download it, put in all your details and you can decide if you want to:

  1. put in one-off deposits

  2. have the app take round-ups of your spare change

  3. put in weekly deposits

You link up your bank card (bank account number and sort code).

You can pick whether you want a general investment account or a stocks and shares ISA (you’ll need your national insurance number for this).

As for the investing, you can pick “cautious”, “balanced” or “adventurous”. It’s perfect for someone who’s never invested before, you can just pick “cautious”.

I now have a tiny weeny share in Disney and Facebook.

Go go go, get involved.

Click HERE to sign up now.

I’m loving this saving money malarky.

**This post includes an afflialite link**

  • This sounds absolutely perfect for me Emma! I’m paying off an overdraft and small credit card debt from when I lived in London and it always feels like saving when I’m in debt is counter productive and I never feel like I can afford to do both. This would allow me to start saving small amounts even though I’m not debt free. THANK YOU!

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