Spyker Dork Review of Moneybox
I always wanted to open an investment account, but...
I always wanted to open an investment account, but most of the providers asked me to fill a long application form, call them or send the letter.
I'm a lazy person and always delayed. Then about 2 years ago I saw on the tube moneybox app advert.
I decided to open an account, and I think that time the first 3 months was free to use.
Now some suggestions:
1. Moneybox app is for long term investment. I would say a minimum of 3 years, good 5 years and best 10 years.
2. You are responsible for your investment allocation. If you invest most of your money to Global Shares, then be ready to see a rapid drop and increase of your investment, but in the long term, it will pay back.
3. Be prepared for a volatile market, and you may end up some period in minus what to do then? then
4. When shares go down, then it's time to buy stocks. But don't forget when you invest it will take another 10 -15 days for funds to clear.
5. Be consistent. You don't need to pay a significant amount of money every week. The moneybox app has got time calculator, which shows the return of your investment next 10 years and how increasing your deposit could boost your investment.
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