Alter Your Money Mindset To Tap Into A Better You

[@keddysowelsmusic]

Hey, just wondering, do you think £100 a month into snp 500 is a good enough amount? Ik it’s a personal thing, the amount you can afford to lose but just wondering what your personal opinion is on it?

[@Jodie_Brook]

@@keddysowelsmusic a good question, so £100 is the minimum amount you can set for Vanguard for example, although you can do smaller amounts with other brokerages. It also depends on your risk tolerance, as well as how much you earn. So if you earn £4k a month , £100 is a drop in the ocean. Interesting that you said 'the amount you can afford to lose'. Yes you may money with investing but the goal here is to allow compound interest to grow and improve the pot of money you have over time. I recommend you use the 'compound interest calculator ' on Google, it shows how much money you can earn if you invest £100 for 10 years versus if you invest £500/month for example. Thanks for watching :)

[@hemalatharajan4067]

Hi, Fist comment 😊. As I said in your previous shorts I am your recent subscriber and I saved 10% of my income as soon as salary credited. I have a doubt, paying for your insurance premium (monthly around £167) goes into needs or savings? I believe this is a need which I am going to pay for next 12 years. And, I gave some pocket money to my son (£20) which he won't spend without my knowledge. Can I consider this as savings as well? Will contact you after the website launch. Have a good day 😊

[@Jodie_Brook]

@@hemalatharajan4067 Hi, depending on what the insurance is for, this would most likely be a need yes. Such as medical insurance in America, or contents insurance for your home. Pocket money isn't considered as 'savings' as it's not for your savings account or guaranteed to be saved by your son for example. Good luck with your budgeting & Thanks for watching the channel.

[@hemalatharajan4067]

@@Jodie_Brook Thank you for your reply. Just started with 10% now. Will slowly increase from April because some other commitments for next 3 months. Love your content. Keep going