Maybe you started using Oval Money to try and help you save money. Maybe prior to using it you had holes in your pockets, or you just lacked the right incentive to prioritise saving over spending. Maybe it was too complicated to contemplate before that, maybe you hadn’t the time, or maybe you just always found the subject to be boring.
If that was the case, then hopefully Oval has turned your (financial) life around. Hopefully it has helped you achieve what you previously thought to be impossible. Its interactive interface, simple savings steps, and automated saving system have hopefully been your answer to finally putting away some money for the future.
To sum up: you are now an individual in supreme financial control, and you’re thrilled (as are we).
Now you’re ready to take the next step.
You’re ready to start earmarking that money for an end goal. Be it for a house, retirement, or a healthy emergency fund; you’re ready to see it grow for the future. In short, you’re ready to invest. And your timing couldn’t be better, because Oval has just opened its brand new marketplace. In this section of the app you can now invest all your existing savings that you have in your savings wallet. You can even top up your wallet directly from your bank account so that you have more funds with which to make your first foray into the investing world.
Whatever the case, with as little as £50 you can become a bona fide investor through your Oval Money app. Currently you need a minimum balance of £100 in your savings wallet. Once you have established this then the world of Oval investment is yours. Each predetermined investment bucket allows you to invest in different financial products for an indefinite period of time. Whilst there are minimum investment times (usually at least one week or 6 days), you are at liberty to leave your money in your investments for as long as you wish.
Investing is for everyone and it is important. Don’t let your lack of experience deter you from making positive financial steps. Think back to when you didn’t believe you would ever be able to save, let alone invest, and now look at where you are. With just a few small changes to your life you’ve become an individual with a savings wallet that is getting fuller by the week. No matter your age or situation it is never too late to begin investing. Just because you’ve never done it before doesn’t mean you shouldn’t start now. Don’t allow yourself to be swayed by self-doubt or well intentioned but misinformed acquaintances. Read up, make sure you are well informed before you make any decisions, and trust in yourself.
Even if you are not a high risk individual, investment is for you. Not all assets are part of the ‘high risk high reward’ school. There are many ‘low risk’ options that potentially provide a smaller but steadier gain. The most important thing to understand about investing is that it is a way to make your money ‘work’ for you without you needing to do anything for it. For those who are naturally cautious by nature, the low investment threshold of £50 allows you to “dip your toe” in the investment pool without the fear of risking everything you have.
The best part about the new Oval marketplace feature is that once you are happy with the notion of investment and understand the products you are investing in, then you can even set up your investment as a ‘recurring’ action. Just like you can with your savings steps. Each week you can opt to invest either a fixed amount or a percentage of your savings into your chosen Oval investment bucket. Automated investing means you are adding to you investments without even thinking about it. In addition, as with automated savings automated investment means you don’t run the risk of trying to gamble on the market and miss solid investment opportunities by getting cold feet.
Starting is easier than it seems. Investment is just a click away at Oval Money.
Your capital is at risk, and past performance may not be a reliable indicator of future results. Oval Money is not permitted to provide financial advice, and if you have any questions please consult an expert.