Thanks for watching. If you're a first-time investor trying to narrow down which investment app you should use the reviews on this playlist will help ru-vid.com/group/PLcftEwGjw4C9O7C0HxPPfVpPXawCQyZOg LEARN HOW TO INVEST WITH CONFIDENCE - Take my online course conversationofmoney.thinkific.com/enroll/786544?price_id=837786 ▼
Hi just want to know if I sign up for money box but I'm planning to moved back to Australia In the next 2 years Can I still put money in using my Australia bank account or do I have to transfer money into my British account. To keep it going will it cost me more doing that way I take it I can't used my Australian account. Thanks I'm British and hold a Aussie citizenship.
I'm not sure it would work with an Australian account but i could be wrong. Worth checking with them. what i do know is the eligibility for ISA dictates that you have to be UK resident.
@@conversationofmoney if I'm working and living in the UK now then moved bk to Australia I can still put my money into my UK bank then I'll transfer money into moneybox if I can do that way 👍 I'll ask them
Can honestly say that paying into ETF index funds in a stocks and shares isa with a long term vision is the key to wealth. Learn about diversification and patience, and you can’t go very wrong.
Amazing review. Well spoken and delivered for a novice investor like myself, to digest easier. Couldn’t help but hit the subscribe button straight away.
Thank you for this, I was looking for a video that would break it down simply for a first time investor! A few weeks ago, I downloaded the app, started to set it up and then deleted the app because I was unsure about whether it was for me. Now I've watched this I feel much more confident to go ahead with it and will probably redownload it and finish the set up.
Thanks very much for explaining and breaking it down for us. My wife and I saved some money by COVID forcing us to WFH during COVID so looking to invest/make the money work for us ❤
Thanks for the great information in this video. Was considering how to start saving and wasn't too sure where or what to do but this has made the process a lot easier. Liked and subscribed pretty much instantly as you explain things in easy and understandable terms. Thanks and look forward to watching many of your videos.
This is the best video on Moneybox I have watched on YT. Well detailed and comprehensive. Thank you for this video, you just got a new subscriber to your channel.
To be fair the cash Lisa might be a safer bet than stocks and shares ISA given the current financial climate. Facebook has a dwindling user base, Netflix is performing poorly. I also don't trust a large company to be agile enough to move funds from a failing company to better investments. Better to get the 25% and buy those stocks yourself if you believe in the company.
Thanks for your response, I appreciate it! :) Netflix, Disney, Facebook have been performing poorly in the last 6 months but some of the other stocks mentioned like Microsoft, Apple etc on the Moneybox stocks and shares LISA seem to be doing ok. Would you recommend the stocks and shares LISA over the Cash LISA for somebody saving for a first property? Also do you feel the stocks and shares would provide better protection against the massive inflation that is likely to continue over the next couple of years? I can see how a stocks and shares LISA might have performed well during the pandemic as the market was very bullish but there are signs that a recession could be coming, at least in the UK, which typically leads to the value of stocks and shares falling. This could result in the loss of savings put into the stocks and shares LISA. I personally intend on cashing out the LISA in 2-3 years so feel the stocks and shares may not be given enough time to perform well and increase the value of the savings significantly. I'm basing this on how the economy is looking right now.
You got a new subscriber mate, love how clearly you state everything. It makes it easy to digest and helps you get a good understanding of the platform as I was quite hesitant
Great to hear your thoughts, but I was expecting to see a walkthrough of the actual app in use. It's hard to conduct a fair review without setting up an account.
I rarely subscribe on one videos but you got instant subscribe. Well helpful!! Thank you. I have a Q in regard to Cash Lifetime ISA. When they the bonus is paid yearly is that the tax year or from the day you start till next year. So for instance, if I invested now, will I get return next year or at end of tax year. Just making sure I use the annual limit correctly. Thank you in advance
I am looking for a video review of Moneybox Mortgages, cannot find anything on RU-vid. May be worth looking into this new feature and make a new video about it?
Nice video! However after using a money box and not really enjoying it I switched to wombat which turn out to be the best thing for me as newbie and millennial!
Hi thank you for the video. I already invested in cash and share Isa but I'm trying to customise where the go to for trading but I can't. Please can you help ?
I use it currently on adventurous risk option and invest 70% in global funds. 10% in property, 10% in government bonds and 10% corporate bonds. What does everyone invest in
Great video! I recently opened a stocks and shares ISA with Moneybox and I’m looking forward to see how it performs. Also a good starting point for me with investing being a beginner.
Thanks for this great information but I want to know if I choose after few years to relocate what happens to my LISA and stocks and shares ISA account and all the interest I have made ?? Can i leave it with money box or do I have to withdraw it ?
I’ve found with money box you get much less diversity in terms of where your money in invested compared to wealthify, Moneybox will simply dump 90% into a fund which tracks an index of the top global companies and 10% into a global property fund; with wealthify it at least appears you get more diversity with investments in funds and etfs from several different companies. Also not overly keen on having my money put into an ethical fund managed by old mutual who appear to be based in SA given that country’s shoddy record on corruption and government etc... also nice subtle plug to recommend setting up a regular payment with the app that was nice 😉
Really good views my friend. It highlights why it important to do research when comparing and contrasting providers. Interesting take on the ethical fund side. In my experience and still working with investment houses ethical is BIG on the agenda. They are certainly focussing on pushing companies and entire sectors to do better when it comes to responsible investing. It will become the norm in the near future.
conversationofmoney yes I kind of feel Moneybox might be missing a trick here, when I signed up for the ESG option I expected something a bit different... for example a clean energy etf some solar power wind farms at least 😅 but no, alas you look who you’re actually investing in with Moneybox’s esg option and it’s: Microsoft procter and gamble Johnson... companies that for the laymen like me don’t appear the most green or ethical. Basically I think for young people (their client base), with a high risk tolerance, they could be more adventurous with their esg option.
Really enjoyed the review Liked and Subbed! Would you be able to do a review on the pension account? Would you recommend a younger person consolidates their pension through money box (around £2k) and and if you so which of the 3 choices would you recommend? Thanks
Great insight! Very articulate. I do have one question, on the T&C’s it’s says all ETFS and others are not covered by the FSCS therefore if moneybox goes bust we are liquidated entirely right?
brilliant video Pete! This video really helped me a few weeks ago, to form more of a solid picture of where I wanted to go with my savings moving forward. I know the importance of doing my own research, but just wanted to thank you for the additional useful info! Regards, Tom (The Wealthy Walker)
This is the first time I am considering investing, however the tax year is about to end. Is it reasonable to wait until the beginning of the next tax year or can I still invest in money box now?
Hey man, first of all, hats off to your videos! They are a great place to start off if financially stuck. The reviews on the apps are amazing. I do have one question though, I want to open an S&S ISA + Junior ISA (for my kid) + Lifetime ISA(in hopes of buying a new house), what i understand is that i cannot do it on the same year. So if i open a stocks ISA this year, and open a lifetime ISA next year, does this mean that next year my stocks ISA cannot be continued anymore?
The maximum contribution you can make in a tax year if 20m into an isa. An LISA will only use 4K of your allowance leaving you with 16k to use. You can contribute to both to utilise your full allowance, I would suggest speaking to your provider for advise on how to go about it.
Hi, thanks for the video, great content! Just wanted to clarify the tax treatment of the Moneybox general investment account- are the gains treated as capital gains or savings interest?
This was a really useful video - thank you. What would be your recommendation for timing? Do we think 2020 will be a bad year overall for investing, and is it wise to wait until the next tax year?
Really enjoyed your review of Moneybox. I have been using the app for over a year and I have transferred 3 pensions into it. I have a weekly standing order and a monthly one as well and it has been working really well to me. I just wasn't able to set up the round up feature, I don't know it that is something to do with my bank account. As a user of Moneybox, it was reassuring to watch your review. I'll be looking out for more of your videos.
Hi Pete, Moneybox has added some sort of crowdfunding feature? I don't know whether it's for investing in Moneybox themselves or they choose crowdfunding for you? - not so clear on their site, anyways just a heads up incase you hadn't seen, ty for your videos :)
Hi there I have been looking into money box as I love saving. Halifax building society do a slightly similar thing when it comes to buying things like coffee and small transactions. Definitely like to see if I can invest with a stocks and shares ISA
Awesome video!! Quick question: you might remember that a month ago I asked you about nutmeg ( I ended up opening an ISA account with them ). Since you said that it's not possible to have 2 ISA, is there any chances that I can start using Moneybox as well - by having a different investment account with them?? Thanks
Great Video, newly subbed! Quick question, what platform would you recommend? i've done some research and there are some criticisms of moneybox and wealthify for the fees that are incurred, would be curious on your opinion on this. Keep up the good work!
Hi Daniel. Who are they being compared to for fees? Yes you have to pay with Moneybox abs Wealthify but you get automatic diversification and risk management. If you’re comparing them to trading 212 or Freetrade it’s a completely different type of investing.
@@conversationofmoney Hi Pete, thanks for such a quick reply! They were comparing with free trade slightly but mainly referring to vanguard, and how moneybox and other apps are expensive seeing as they are bots. I'm new to all of this and just trying to get my head around the best approach.
@@conversationofmoney van guard fees are low. Money box is 1£ a month aswell as 0.45% service fee and 0.2-0.35% fee for funds so potentially 0. 75% 😆 no thanks van guard seems way forward for stocks and shares
