Is 2017 the year to clean up your finances and invest with the best?

Your financial goals for 2017 don’t need to be such hard work. In fact, just 10 minutes now can save you a lot of anguish – and money – later on

Give yourself the best financial start to the year

Are you feeling the post-Christmas pinch? It can be tough going in January after the annual splurge. But it doesn’t have to be that way.
Putting aside a little each month can help you build a tidy nest egg over time. Getting started is the hardest bit, but once you’ve made the commitment, you’re up and running.
The only question then is: where do I put that money?
Sadly, typical interest rates on savings accounts have been incredibly low ever since the financial crash in 2008.
It can be difficult to find a bank savings account that just keeps pace with inflation, especially with so many living costs on the rise since the Brexit vote.
So, no wonder many people consider investing as they seek out the best returns on their money.
You should always remember that investing puts your money, or capital, at risk, whilst holding money in cash does not ( up to the FSCS ceiling of £85,000 ).
If you’re willing to accept risk, the difference between saving and investing can be quite amazing. Take a look at these figures from Nutmeg, the popular online investment manager.

This chart is taken from Nutmeg’s ISA Calculator tool , which helps you see how your money might grow in a savings account compared to an investment portfolio.
With an ISA, which stands for Individual Savings Account and is a government initiative that gives you great tax benefits, you can choose to save your money (a Cash ISA) or invest it (a Stocks & Shares ISA).
If you’re new to investing it can seem quite daunting at first. There are so many options – stocks, bonds, funds, funds of funds.
It’s enough to make your head hurt. And then knowing how much risk you’re taking – because with any investment there is risk – can be mind-boggling, even for an experienced investor.
This is where Nutmeg can help. We make it easy to invest in really sophisticated portfolios by doing all the hard work for you.
All you need to do is go to their award-winning portfolio tool , where you say how much you want to invest and how much you want to put in each month, then pick a time frame and a risk level, between low and high. There are 10 risk levels to choose from, and we’ll help you decide which one best fits with how much risk you want to take.

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You can decide to have a fixed allocation portfolio, which keeps your investments fixed over time as the stock markets ebb and flow. Or you can have a fully-managed portfolio, where Nutmeg constantly monitor the markets and make adjustments to your investments as they see new opportunities for better potential returns.
It’s all online so you can see where your money is invested and how your portfolio is doing whenever you want. You’re not tied in. The fees are low, and simple to understand . You can take your money out when you want. And you can top-up, withdraw or change your risk settings as you wish, at no extra charge.
So what are you waiting for? Remember, it takes just 10 minutes to set up and it could be the best financial decision you make all year. And for years to come!.
Risk warning: Your capital is at risk. The value of your investment, and the income you get from it, can go down as well as up. As with any investment, there is a chance you will get back less than you originally invested.

Culled from Mirror