eBuyGB Plastic Money Box for Kids, One Size

Product Information

Because a lot of people feel they cannot commit to a regular arrangement of giving to any cause of charity, when it comes to helping us to make the most of our resources to help with a cause, charities money boxes still provide us with one of the best ways doing so. Moneybox is best suited for people with no investment experience who want to dip their toes into the world of investing without putting too much effort into selecting funds and doing their own analysis. Of course, this does pose some risk as you’re relying on someone else’s opinion but it’s a great way to get started. When you get started with Moneybox, you’ll be asked about your risk profile. Depending on what you choose, Moneybox will apply a different investing strategy. You have 3 basic options: When deciding which company to invest your money in, this fund takes into account a range of ethical values, from environmental impact to human rights to transparency. It’s based on what is commonly referred to as ESG (environmental, social and governance) scoring. Opening an account with Moneybox is incredibly easy and you don’t seem to have to go through the masses of questions you get with the more traditional brokers. It’s all done on the Moneybox app too which has been designed to be very user-friendly.

The pensions service at Moneybox is very similar to that of PensionBee and Penfold, in that they help you locate and consolidate any existing pensions into one, easy to manage, Moneybox Self-Invested Personal Pension (SIPP). Again you will have the option to invest your Moneybox pension in the following funds: Old Mutual MSCI World ESG Index – the socially responsible choice. The number of notes you can fit inside a money box depends on its size and capacity. Money boxes come in various shapes and sizes, so the number of notes they can hold will vary. Some money boxes are designed to hold only a few notes, while others can accommodate a larger number. In practice, you won’t see 3p disappearing here and 33p there. It tots up a running total to remove from your bank account once a week. You can get more information about Moneybox’s investing strategies at this stage too. If you’re a bit more expert, you can also manually edit your investing strategy and decide which percentage of your money goes into which fund. Don’t do that until you are 100% clear on the risks each fund entails though. Moneybox ethical investing Pension. This account lets you save up for your retirement. You can get some tax benefits from the government, but you can’t withdraw until you turn 55.

Adventurous. The vast majority of your investments goes into a global shares fund, but some funds are still invested in property companies. Moneybox says: ‘growth is important to you and you’re aware that will come with some ups and downs along the way’ Risk. With a savings account, you know from the start how much you’re going to earn in interest (even though it’s probably not much at the moment). If you invest your money, you could earn more, but also lose your capital. That investment disclaimer that says “your capital is at risk” is there for a reason.

Any of the three funds mentioned above (Cautious, Balanced, and Adventurous) can be converted into a Socially Responsible fund for ethical investing. General Investment Account So basically the round ups haven’t amounted to all that much, and I’m glad I signed up for weekly deposits too. Select your starting investment plan. Choose from “cautious”, “balanced” or “adventurous”. More on how these risk profiles work is below. But does the odd penny here or there add up to much? What does it actually invest in? And how much do you pay for the privilege? Moneybox scored of 4 out of 5 for customer satisfaction. 84% of customers would recommend the brand to a friend. Moneybox alternatives

Feast your eyes on the screengrab above showing my contributions, investment gains and fees after three years with Moneybox. Moneybox says: ‘protecting your money is important to you, but you want to dip your toe into investing’ By connecting your bank card to the Moneybox app, you can set up an investment account from your mobile phone in a couple of minutes. This gives those with little or no investment experience an easy starting point. How does Moneybox work?