Moneybox - Anyone use this saving/investment app?

[el_dazza]

That's investing for you. Not exactly a unique situation to moneybox with a global pandemic!

No, but it's just my luck. Finally start saving and the world faces its biggest crisis probably since WW2. About par for the course.

 

[the_r_sole]

I really like this app as I'm terrible at saving! I've managed to save £2350 quid in around 18 months without noticing - it's not a lot but at the same time it's more than I've saved outside of selling properties etc!
Currently the interest is hovering around 2% on mine (have changed to different funds etc over the course) so not great but it's still money I would have normally spent!

 

[rainbowGuy]

So... you're getting less interest AND gains, or you're using those words meaning the same thing? There's never any guarantee on the gains, you just need to either accept that or try someone else I guess. They have historical data showing they do okay, but there are two years (2011 and 2018?) where they actually lost money. I think this is a risk with anyone.

I watched a couple of videos about Moneybox, one by a financial adviser that seemed to think they were pretty good, so I've gone and thrown a decent amount into an ISA with them. Although I have a savings account, I feel like this is the first time I've really had proper savings! (A bit late to the party really!)

yeah same thing. i have had it for more than a year (even two i think).. i originally had ISA and LISA. ISA wasnt paying enough so i moved it. LISA isnt doing that much so over 2 years i think its gained only 300£ (with their fees taken off)

 

[AndyCr15]

Bit of a bump, I did stick a lump in with Moneybox and it's going quite well, up 9.28% right now. I guess we're into a new Tax year now, so can invest again, tax free? I've got my bonus coming this month too, so thinking about what to do with it. Should I just add to my Moneybox ISA, or is it safer to stick some in with someone else? If so, any suggestions?