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New investor - What are my options? €50 p/m

  • 03-11-2022 3:32pm
    #1
    newbie18892
    Registered Users Posts: 491 ✭✭


    Hi everyone. I currently have all my savings sitting in a savings account with my bank earning basically no interest. While I'm happy to keep saving up some money like that, I am interested in investing an amount somewhere else.

    I was thinking of investing approx €50 p/m. I have no experience with stocks or any other type of investment so would appreciate advice. What is the best app/site to use? Am I better to split my €50 or put it all on one thing?



Comments

  • #2
    daheff
    Registered Users, Registered Users 2 Posts: 5,910 ✭✭✭daheff


    i think you need to look at something like EToro or Trading212 (not a recommendation of either).


    they allow you to purchase fractional amounts of shares, which would allow you to buy any of the most popular companies (most shares would be above your 50e a month budget). you can also set up a basket/pie in T212 (its basically you add in a number of stocks you want and when you invest it splits your investment into each share).


    downside on this is you will get killed on spread (fees) each time you invest. Investing with small amounts isn't efficient due to fees, as fees can be fixed amounts and not proportional to your investment.



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