impulseSave® Challenge – What Have You Learned So Far?
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
We are now at the end of the first month of the impulseSave® Challenge. If you are taking part in the challenge you will already be 5 weeks into your 52 week investing habit, and should have invested £15 by this stage.
The idea is you invest the amount attached to each week of the year – Week 1 is £1, Week 2 is £2 and so on. Your challenge is to impulseSave® an amount each week for 52 weeks. By investing little and often, you’ll have invested an extra £1,378 by the end of the year.
Alternatively, some of you may have opted to flip the calendar. This involves getting the big investments out of the way first, £52, £51, £50 and so on. By working the year backwards like this, you will have invested £250 so far this year.
With this habit now established, what have you learned so far? Has putting money aside been easier than you thought? Have you enjoyed seeing the results of your little and often routine?
Eventually, this good habit has the potential to grow into something even greater. Our Stocks & Share ISA has the potential to outperform Cash ISAs, as the return is linked to the performance of the fund you are invested in. However, you must keep in mind that fund performance can go down as well as up. That’s why the True Potential Portfolios allow you to invest in a risk profile that suits your needs, and our unique Advanced Diversification process helps to reduce risk and finds opportunities for growth.
How will your investment perform in 2018? Keep going with the impulseSave® challenge and see how much you could have by the end of the year. Let us know how you are getting on, tweet us @tpinvestor and comment our facebook.