An interesting way to save, and invest, Nutmeg*

This is a sponsored post but it’s all written in my own words, with my own opinions, feelings and experiences.

I’ve always felt strongly about the importance of saving; if someone has the ability to put some money aside then it gives them the chance to prepare for the future and have some security. I met my best friend, online, when I was 15 – He was working full time and living with his parents, spending a lot of his money on cds. You wouldn’t believe how much I bugged him to start saving. I won’t take credit for all of it, haha, but I do feel like bugging him to get going on it has helped him be the saving-savvy person that he is now.

We don’t have a lot of money, at the moment, but I hope that one day we’ll be in a position so save our money and invest it in some intelligent ways. There’s so so many ways out there, though, and it’s a bit scary sometimes, trying to work out the best way to do it. It’s clear that ISA’s are one of the best ways, a tax free savings system that allows you to put in 15k (which is going up to £15,240 in 15/16) a year, but once the money is in there it’ll only gain interest at the rate of the deal you’ve been able to get.

A family friend used to be big on playing the stock market, investing bits of his money in various stocks and shares. But… well for someone like me that’s rather scary. I know nothing about stocks and shares but I do like the idea of making my money work for me. As such, when I was asked to write about Nutmeg*, and let you know about them I was instantly intrigued.

With Nutmeg you can open an ISA account with as little as £1,000 (though with investments below 5k they ask you to contribute £50 a month additionally) and they’ll set up a portfolio for you in which they’ll invest your money. Rather than just throwing your money at them, there’s a lot more to it. You tell them about your investment goals, how much you want to invest and the risk level you’re willing to accept. And that last point is an important one, for me, as much as making my money work for me is appealing, the idea of risk is always going to be a scary one so being able to control the risk level is something I would really appreciate.
I like that you have a portfolio manager, which gives the system a much more personal feel, too, the last thing you want is to feel like you’re talking to a machine when you’re trusting your money to someone.
Of course, with a company like this, you’re going to have to pay fees but with Nutmeg you’re going to pay based upon how much you invest (much nicer than some fixed sum which will benefit some but not others). If you invest the minimum amount of 1k then you’ll pay 1% a year, in fact if you stay below 25k then it’ll be 1%. If you go above 25k then it goes up to 0.9%, above 50k and it’ll be paying only 0.75%. This scale continues, and the percentage keeps decreasing, all the way up to 500k where you’d only pay 0.3%. In all honesty, from someone who’s not used something like this before, that seems like a really fair amount, when these people are investing your money in a way that would, hopefully, help you increase your savings.
In all honesty there’s a lot more about this company that I could say, but I’d not make much sense to myself which, I think, would  make it a pointless thing to be telling you. There’s a whole lot more to learn, on their website so if you’re looking to invest then I’d suggest looking them up. The company has been running since 2011 and has been in the press countless times, with a lot of support having been given – I hope that we’ll have money to invest in the future and, with absolute honesty, I’ll be looking up Nutmeg when the time has come.

This is a sponsored post – please see disclaimer here

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