If you choose the right investment your return could outperform any savings account.
Get it wrong and you could end up losing your money.
You may find the risk that comes with the potential reward the most exciting part of investing. However, it is important that you consider where you invest and what you invest in to make sure you maximise your chances of making a profit.
Here is how money.co.uk can help you make the decisions that could aid you grow your investments.
1. How do you find the right investment?
There are so many different types of investment that working out which fits best with your financial objectives is the first, and possibly the most important step.
Our jargon free investment guides give you essential information to help you make more from your money whether you are new to investing or an expert.
They will give you useful information and tips that will help you work out which type of investment is right for you, decide how much you should invest, what you should invest in, which company you should invest with, and even whether you should be investing at all.
2. How to decide
Once you have investigated your options it is time to decide what you want to invest in and how much risk you are happy with.
This will largely dictate the type of investment you go for. Fund based investments like unit trusts and OEICs tend to be less risky options, while CFDs and spread betting tend to be more so.
You will also need to decide how you want to manage your investments. Do you want to be hands-on and take an active role, or would you like to leave the decisions to an expert?
How much and how often you want to invest is also worth considering as it will determine the options available to you. This decision will largely come down to whether you want to deposit a lump sum or drip feed funds into your investment account.
Similarly, you will need to decide whether you will want income from your investment, or would prefer to reinvest any profits you receive.
3. Compare your options
After deciding how you want to invest, it is time to compare your options.
You can use our investment comparison tables to view essential information on the fees, charges, performance and functionality of a huge number of investment opportunities and accounts side by side.
Use our comparison table to find and compare the finer details of the investments that fit your circumstances and your investment needs.
4. How do you choose?
Once you have researched your options it is simply a case of choosing the investment opportunity that is right for you.
Do this then apply direct from our investment comparison tables - you will simply need to set up an account and you can get started.
Remember to double check that you are happy with the charges that apply, comfortable with the way your investment will be managed and confident that you have made the right choice for your circumstances.
If you have any doubts then you should always speak to an Independent Financial Adviser who will be able to help you further before you make any financial commitment.