This is a sponsored article on behalf of Moneybox.
Does the word 'investment' make you want to run a mile? You're not the only one.
As Londoners, we're used to working alongside a backdrop of suits and skyscrapers — and if you're anything like us, you've probably already resigned yourself to the fact that you'll never understand the kind of financial wizardry that goes on up there.
But what if every Londoner could get in on the action? That's where Moneybox comes in — an app that levels the playing field.
That's right, you don't need to be an expert — this nifty app does all the hard work for you, leaving you to get on with what you're good at.
Synced up to your bank card, Moneybox automatically rounds up all your purchases to the nearest pound, and sets aside the change. The money is then invested on your behalf into thousands of global companies like Netflix and Disney, via simple tracker funds, meaning you don't have to get involved in the nitty-gritty.
Just spent £2.40 on your morning coffee? That's 60p invested. Splurged £8.60 on a takeaway? That's 40p put away. It's a great way to save for your future, without having to think about it, and a variety of investment accounts are on offer, including the Lifetime ISA. The Lifetime ISA could help you save for your first home — you can add in up to £4,000 each tax year, and the government adds a 25% bonus on top.
Prefer to set aside more regular sums? You can do that too, with automatic weekly deposits to help you siphon away your money regardless of spending. There's even a handy payday boost option, letting you automatically contribute more to your Moneybox account whenever your paycheque comes rolling in — and before you end up spending it...
A handy in-app summary screen lets you know how your investments are getting on. In the long run, your investments are likely to offer higher returns than a savings account, and it can be encouraging to see your hard-earned cash put to work.
With Moneybox, investing has never been so easy, and now every Londoner can get involved — whether you're a barista from Battersea or a designer in Dalston.
Not just for the city whiz-kids then, huh?
As with all investing, your capital is at risk. The value of your investments will rise and fall at times and you could get back less than you invested. Government early withdrawal charge applies to the Lifetime ISA.