Small monthly investments

[cyborg]

Hi guys ,

I should hopefully start a new job within the next few days , including my student loan I should have a good chunk spare each month .

Ideally I would like to invest half of what i have budgeted to save with minimum risk with a good ROI whilst saving the remainder of the money .

I'd be looking to invest £250-500 PCM

Over to you guys .

Rich

[greygoose]

The usual guidance is to save up 3 to 6 months salary for emergencies, you could put it in an ISA to avoid tax though savings rates aren't good at the moment.

For investments it depends what your attitude to risk is and what you are saving the money for, if you want to buy a house soon then you would want easier access to the money but if you are saving for a longer term goal then unit or investment trusts would be the way to go or buying shares yourself (though this does require more research). Drip feeding the money in on a monthly basis is good as you benefit from the smoothing of prices as they go up or down.

Another thing to consider is pensions and if your new job provides one or not.