Budget Help Step 5.5: Click the FOLLOW to keep up to date with everything money 😉 Your friend, The Quid Squid 🪙🦑

Investing is a bit crazy, so make it as simple as possible 🤔 Here are 4 principles to understand before jumping in! 🏊‍♂️

Investing Principle 1: Market average growth 📈 If the whole market grows by 10%, the average must always equal 10% For every person who makes 15%, another will only make 5% 😅

Investing Principle 2: Compound Interest and Time Time in the market is important. Think LONG term due to the power of compound interest. If you want quick money, maybe find another way. 🙃 Compound Interest is simply the growth of the growth that has already been made!

Investing Principle 2.5: Compound Interest Example Without compounding, £10,000 at 10% for 30 years would equal £40,000. With compounding and with the same factors, your total would be £174,494 Quite a difference!!! 😮

Investing Principle 3: Dollar Cost Averaging This is the act of Investing small amounts of money regularly The benefit of this is you are buying stocks at different prices, meaning if there is a drop in the market, your future investments will be bought at a "cheaper" price 🫰

Investing Principle 4: Fees are the enemy of profits! A 0.5% fee might not sound like a lot, but using the same figures in 2.5, your total final value drops from £174,494 to £152,203 A loss of 22,291 📉 There are accounts out there with very low fees, so do your research! 🤓

Sainsbury's have launched their new nectar price scheme which is comparable to Tesco's clubcard prices, what do you think? theguardian.com/business/2023/…

Unpopular Opinion: Don't break out of "The Matrix". If you can't make the systems within the matrix work in your favour, how do you expect to thrive on your own outside of it? 🤔

One of the most harmful mindsets "You could die tomorrow, so have fun with your money now" 99% of people have no idea if their finances allows them to have their cake and eat it 🍰 Dont be an ostrich, create a spreadsheet and find out, you could be pleasantly surprised! 🤔

BAD NEWS Heathrow airport will be in the ULEZ from 29/8/23 This means to pick up and drop off, if you have a car which doesn't meet the ULEZ emissions standards, you will have to pay £12.50 on top of the £5 charge there already is £17.50 to drop/pick someone up Thoughts? 🤔

AND AS ALWAYS.... Follow for everything money 💷 Your Friend, The Quid Squid 🪙🦑

You only need to pay for a TV licence if you do either of the following: 1. Watch live TV on any platform 📺 2. Watch BBC iPlayer 💻 So if you do and your licence is up for renewal, RENEW NOW before the price hike on 1/4/2024! ⬇️

You have 6 days left 🗓️ TV LICENCE Prices are increasing on the 1/4/2024 from: £159.00 ➡️ £169.50 But do you need to pay it? 🤔