How Should I Begin Investing My Monthly Salary?

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If you’re looking to grow your money, you could start by investing part of your monthly salary.

Step 1: Calculate what you NEED to live on

Calculate you monthly spend. What do you need to pay all your bills and live comfortably?

Step 2: Make as many spending cuts as you can

The idea here is to increase the amount you have available to invest by spending as little as possible.

Step 3: Put the spare money into a Stocks & Shares ISA

This makes all the gains you get from your investments completely tax free. The maximum amount an individual can put into an ISA is £20,000.

There are a number of excellent companies that can provide you with a stocks and shares ISA.

Step 4: Buy High Dividend Stocks

In blocks of a minimum of £2000, buy stocks and shares that deliver a high dividend yield. At time of writing, yields of around 6% are achievable.

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