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Making money: How to start investing – do’s and don’ts for beginners | Personal Finance | Finance

Investments

Making money: How to start investing – do’s and don’ts for beginners | Personal Finance | Finance

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Jumping headfirst into the world of investing without preparing is a dangerous game. Emma Keywood, senior product manager at Dodl told Express.co.uk her ‘do’s and don’ts’ when it comes to making money through investing.

Don’t: Dip into your savings

“Everyone has a dream about making it big, and if you want to start investing, that dream might involve hitching a ride to a hot cryptocurrency, NFT or stock that you think is heading straight for the moon.

“You should always follow your dream, and even be willing to take a few calculated risks along the way but dipping into your savings isn’t one of those calculated risks.

“Investing shouldn’t involve any situation where you could potentially jeopardise yourself, dipping into any type of saving is a sign of serious financial mismanagement, and assuming you’ve set up an emergency fund, there isn’t any reason that it should happen.”

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Do: Save your money in the best place

“Depending on your investing goals, it might be wise to save your money in an individual saving account, more widely known as an ISA.

“The appeal of ISAs lies in their taxes, or lack thereof – ll UK residents don’t have any obligation to pay tax on the captain gains from investments in an ISA account, or any interest on…

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