Your shout: Moneywise readers have their say in March 2018

22 March 2018

Each month we publish the best comments, emails and letters from our readers. Here are the best of March 2018.

Should I swap my First 50 Funds investments?

It’s great to see the editor has updated the Moneywise First 50 funds list prior to 6 April, which gives us time to sit down and go through her picks, so my thanks to her.

However, if a fund is removed because [Moneywise editor] Moira doesn’t think they’re any longer suitable for a beginner investor, does she suggest that if you’ve already acquired it because it used to be in favour that we replace it, or is it more a case of steering people away from getting in now or acquiring additional units?

It should perhaps be obvious that she means get rid of it, but since her list is updated more often than every five years and we’re told to hold funds for at least five years and not trade them like individual stocks, I would like to know what her views are on this.

I do like the First 50 section very much and after Adam’s weekly update on the best savings accounts, the First 50 is my most viewed Moneywise page; it’s very useful and I have invested in two funds so far from the list. 

I’m sure we [readers] won’t agree with every selection you make since, of course, we wouldn’t just randomly invest in funds from the list (I hope), but it’s clear that you spend great time looking into the funds before you recommend them and I noticed, too, that your deputy editor Helen has been interviewing lots of the First 50 fund managers also and this gives us insight we wouldn’t otherwise get on the rationale behind their decisions and plans for the future and so on. 

Selecting the best funds from the First 50 list is a sufficient enough challenge for me at this stage of my journey. It gives me the personal satisfaction of having done something for myself, but with some help from Moneywise too. 


Moneywise says: Thank you for getting in touch – we’re pleased you find the First 50 funds, as well as other Moneywise features, helpful.

Moneywise editor Moira O’Neill has answered your question directly – she says: “In terms of a steer on the removed funds: if you’ve already acquired one, I think it’s up to you to delve a bit deeper into the fund (and the suggested alternative) to assess whether to drop it or not, based on your personal circumstances and goals. I certainly don’t expect every reader to agree with my selection. The 50 funds are just intended to be a starting point for a beginner and you can also read my reasoning as to why I’ve discarded certain funds. I hope that helps with your decisions.”  

How a packed lunch can boost your Isa savings

Moneywise says: We recently reported research from investment platform Fidelity, which showed how savers who ditch their £5-a-day takeaway in favour of a packed lunch and put this saving in a Stocks and Shares Isa can grow their savings by thousands. One reader helpfully pointed out:

Bringing lunch from home still costs money, although it’s cheaper than buying out.

I used to spend about £70 a month on lunches, but by making it home, the ingredients add up to around £10 to £20 a month (it varies). So, anyone wanting to adopt this savings strategy should budget for how much it costs to make at home, and then save the difference – for example, in my case £70-£20 = £50.


New 10p coins ‘don’t represent Great Britain’

Moneywise says: The Royal Mint has released a brand-new range of 10p coins into circulation with designs symbolising British life. But one reader doesn’t think they represent the whole of Great Britain.

As usual, it would appear that Britain only means England as there is only one item specific to Scotland [Loch Ness Monster], while there is nothing specific to represent Wales or Northern Ireland. For instance, ‘C’ could be Caernarfon Castle [instead of Cricket], ‘W’ could be Welsh Assembly [instead of World Wide Web], and ‘B’ could be Belfast [instead of Bond… James Bond].


It’s never too early to start investing

I am 12-years-old and my dad gave me £100 pounds to start off investing. My dad is also an investor! He says I will be able to do good things in stocks and shares.


Moneywise says: Good luck on your investment journey! Do visit – you can ask your dad to buy some of these for your Junior Isa.