I want to start saving. Any expert advice?
29 July 2021
Question by Jim
Hi, I've just started in a full time role and I'm wanting to start saving. I currently have a current account, a help to buy ISA which I have been saving in since 2019 and a small emergency fund. My question is what are the next steps? Do I start with a stocks and shares ISA? Friends have said to start with index funds? Do I set up both? Should I also continue saving some money monthly into my emergency fund and if so how much? I'm a complete beginner. I've been reading your site for advice but I'd appreciate an expert who knows what they're doing to give me a hand. Thanks.
Answered by Boring Money
Thank you for your question.
Before being able to advise you on the best course of action, as a Financial Adviser, I would look at your tax allowances to understand what you have or haven't utilised, and also look to understand what it is that you are saving for. Do you have a particular goal in mind? (i.e. retirement, holiday, house purchase, etc.) And how far away is that goal?
By understanding all of the above and your personal situation, I would be able to provide you with advice tailored to your needs and objectives. If you would like to receive bespoke financial advice tailored to your needs and requirements, please do not hesitate to contact me.
Alternatively, you are likely to find a provider using the Pick a Product section of this website where you can decide for yourself the most appropriate plan.
By necessity, this briefing can only provide a short overview and it is essential to seek professional financial advice before applying the contents of this article. This briefing does not constitute advice or a recommendation.