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Can technology help you start investing?

64% of British people think that technology would help them to start investing. 
Here we share some of your thoughts on technology, and show you some ways of using tech to make managing your money that little bit easier. 

 

 

"I get technology. Anything that makes my life easier, I am all for it"

Sian told us that as long as she had “that level of confidence to check in and see how things have been performing” she would be comfortable with investing through an app.

Anna runs ante-natal classes where learning is made fun and visual – so why do traditional investment houses make it so “daunting”!? Could tech make things easier to understand? We think so - read on for some tips and ideas. 

 

 

 

 

Let tech make it easier?

Although investments can seem stuffy and complex, the digital revolution has been at work here too. There are many new apps and services which have been designed for the less confident investor, and you might be surprised at the low minimum investment amounts, and the ease of getting started.
After spending the day filming with us, John told us, "I'm not averse to getting financial advice online – I already do all my banking on an app. My interest is piqued!"

Here are some ideas:

  • Micro investing
    New apps allow you to round up loose change from card purchases into an investment or ISA account.
    Easy to use and to set up, this everyday approach can be a great way to start with small amounts. Have a look at Moneybox which lets you open an account from just £1.

  • Robo advisers
    These digital investment services will typically find out how you feel about risk and what your goals are, then propose a ready-made collection of investments which they manage and look after on your behalf. Boring Money's Best Buy pages have customer reviews on these services so you can see what others have to say. Our readers are most likely to recommend Moneybox, Nutmeg, and Wealthify.

  • Investment platforms
    For more keen investors, platforms are digital investment supermarkets. You can manage your ISAs, investments and even a DIY pension under one roof and pick a mix of the world’s best investment brands and shares. AJ Bell Youinvest, Fidelity, and Hargreaves Lansdown are popular. Interactive Investor is well-priced for larger accounts (£50,000+).

  • Mobile-first share dealing
    It is easier and cheaper than ever to trade shares on an app. Freetrade is a new player which charges a flat fee of £3 a month for an ISA, but no fee to trade. Dabbl is a nice idea which makes it easier to own a part of the brands you love. 

  • Budgeting 
    Plum and Cleo are A.I based financial assistants, designed to help create budgets and goals, based on your actual spending habits. Moneyhub is a handy way of bringing your whole financial world into one place, making it easier to keep track of multiple accounts, and ensuring you aren't over-paying on things like your mortgage, insurance, or unused direct debits. 

 

 

Holly's tip:

"Many people put investing off because the decisions seem too big to make. Have a look at the new apps which allow you to round up loose change into a stocks and shares ISA for a very low-touch, easy entry point into the investing world. It might only be a fiver a week and it's a pain-free way to start."

Holly Mackay, Founder and CEO, Boring Money

 

 

Investor Pulse - what you told BlackRock

 

Every year, BlackRock ask people from all over the world, including the UK, how they think and feel about their financial health. This year, they went deeper than ever before to understand the connection between our financial health and well-being.

Want to know more about Investor Pulse and see what else BlackRock found out?