Emma Keywood, senior product manager at Dodl by AJ Bell said it’s important to get in the right headset before investing. She shared five tips with Express.co.uk readers to help them get started.
Set a budget
“Once the first two steps have been completed, it’s then possible to look at budgeting to save money.
“Once savings have been made this can be used for investing with the goal of building a long-term nest egg.”
Read up on different investment options
“Understanding the options available when it comes to investing for the first time can really help people figure out how much they need to save to reach their financial goals.
“It’s important to research which route would work best as there are different ways of investing money depending on the end goal.
“For example, Lifetime ISAs can help people save for a house deposit, ISAs can help with medium term targets and pensions are designed to help people save for retirement.
“Some investment platforms let you invest from £25 a month, meaning you can squirrel away cash on a regular basis to help achieve longer-term life goals.”