The practical guide to investing for mums

Mums are busy, busy people. I’ve had a corporate career, climbing high up the career ladder. I’ve also run my own business. There has been no busier time in my life for me than the time my children were young. Both under 5. Constant, just a constant, never ending to do list that gains 5 actions for every one you cross off. Perhaps I’m an unorganised mum as some others seem to fly trough without a bead is sweat. However I’m innately analytical, logical, goal oriented and a planner. So I’d like to think this manic stress-filled time is inevitable, regardless of skill.

Now you find out about investing. And it sounds great! Tax free savings up to £20,000 per year for each adult and up to £4,000 per child in a Stocks and Shares isa. Yes, investments can go down as well as up but if you’re in it for the long term and you follow a few straightforward tips, you’ll most likely get out more than you put it.

Where do you even start? It’s honestly a minefield once you know you should be “investing”. For an absolute beginner, here’s my practical guide to set you on the right path to becoming an investor.

Step-by-step guide to investing for financial freedom:

First you need a platform. Metaphorically speaking, this is like choosing a bank for a savings account. Each one has different rates and fees but you can mostly get similar products at any of them. The most popular are Hargreaves Lansdown, AJ Bell and Fidelity
Set up a Stocks and Shares ISA
Deposit some cash into your Stocks and Shares ISA
Select an index tracker fund to invest in
Set up a regular monthly payment into your account
Set this regular payment to automatically buy into your index fund
Leave it alone, check it once every few months
Try to ignore when the market crashes as this is for the long term!
Repeat as Junior stocks and shares ISAs for your husband and kids

Key points to keep you going:

It’s difficult when you start as you know nothing and everything has confusing
It doesn’t take long to understand the basics
Once its set up your can forget about it
Your investments into index funds will never go bust – individual stocks and shares do, but a tracker fund will always track the market performance and can never be worth zero
In the long-term you will see your investment grow, even if it occasionally drops in value