Moneybox - Anyone use this saving/investment app?

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https://www.finder.com/uk/moneybox-review

https://www.shortlist.com/home/micro-investment-moneybox-investment-app/353555

So, if you buy a coffee for £2.40, the app will round it up to £3 and invest the 60p for you.

Moneybox is part of the growing trend of micro-investing, which is a more realistic kind of investment for the majority of people – less The Wolf of Wall Street, more Will of High Wycombe. Here’s why we should all be micro-investing if we want to make bank…

Thoughts?

P.S Hi all, been away for ages!
 
Yeah i have watched a few YouTube reviews and it sounds great for me.

One thing i do want to know is, can i amend the 'risk' level whenever i want...so if anyone can help that would be great. Eg, if i start it at low but want to make it high.
 
And charges fees. Unless you are doing hundreds of transactions a month it's not worth investing. Just use as a bit of side money, that £100 or so you want, or that cheap weekend away.

Get a direct debit set up to a proper ISA for real savings.

Get a monzo card(probably other new Internet based banks as well) and do the same for free.

And benefit for easier viewing of your spending money. Free purchases and £200 fee free transactions abroad amongst other things.
 
I started doing it with Revolut this week, will be interested to see how much I save after a few months.
 
I guess if you go through your bank balance each month and find it hard to save then it is perhaps useful to use something like this to save for you/as you go etc..

I'm not sure I'd bother with it tbh... I'd rather just decide I want to save X% of my salary + any excess
 
I've used it for a year or so, mostly because I'm awful at saving anything and it does make a difference if you're lazy like me, I racked up about 700 quid over the year, gains aren't great on it but works for me and got a new laptop out of it! If you're ok at saving on your own I guess it's pointless but it works for me...
Also seems you can change between cautious, balanced and adventurous investments but presumably it's only for new money going in?
 
Don't expect a lot. Think how pricing on products work and how many transactions a month you actually make.

You've got to remember I'm abroad and using my Revolut card every day, since Tuesday I'm up to a whopping £1.62!
 
I've used it for a year or so, mostly because I'm awful at saving anything and it does make a difference if you're lazy like me, I racked up about 700 quid over the year, gains aren't great on it but works for me and got a new laptop out of it! If you're ok at saving on your own I guess it's pointless but it works for me...
Also seems you can change between cautious, balanced and adventurous investments but presumably it's only for new money going in?

Ah ha - thats what i was looking for, cheers.

May start with balanced then see from there.

Not a brilliant saver so this will help.
 
It’s a great idea but it’ll only work for you if you use your debit card a lot. The 0.45% annual fee isn’t too bad but the £1 a month fee would rapidly decimate any savings I’d make.
 
It’s a great idea but it’ll only work for you if you use your debit card a lot. The 0.45% annual fee isn’t too bad but the £1 a month fee would rapidly decimate any savings I’d make.

It logs every transaction in your bank account and ask if you want to round it up, so all my paypal transactions, mortgage payments etc all can be rounded up
 
It’s a great idea but it’ll only work for you if you use your debit card a lot. The 0.45% annual fee isn’t too bad but the £1 a month fee would rapidly decimate any savings I’d make.

When you consider tapping in and out for Oyster 5 days a week, going out at the weekend..it can add up!

I reckon mine is about 100 a month! :eek:
 
I don't live in London (or use public transport much for that matter) and I use cash a lot too. I'm actually astonished at how little goes through my bank account these days!
 
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