I’m a student, so I put in around £50 - £100 per month in. The way Wealthsimple works is that you can buy a percentage of a share (automatically), instead of a whole share. So with government bonds you would have to pay at least £100, but Wealthsimple has this feature where you can automatically crowdsource the money and you don’t have to put in the whole £100 if 100 people put in £1 kinda thing.
£150 should be absolutely enough. I plan on saving up to around 5k in Wealthsimple and then looking at my other options. Once you’ve built up enough capital like £5k or £10k you can look at investing into the things that Wealthsimple automatically invests in, like Vanguard.
I quite like Wealthsimple at the moment. They’re not very big in the UK, but they’re incredibly big in the US & Canada.
If you use my referral link we both get the first £5000 invested with no fee, which is a massive plus. One of the reasons I use wealthsimple over something like Nutmeg or Wealthify is the fact that you have this option to negate the fee.
You basically get the first £1100 fee-free, then if someone else signs up you get £6100 fee-free. Whereas with Nutmeg you flat-out pay near 1% each year.
I really enjoy wealthsimple, but my plan is to change in 2 - 3 years to be more hands on with my money when I’m smarter. I’ve read this quote a lot:
It doesn’t matter how you start, as long as you start
so debating whether or not you should put your money into a service isn’t the wisest, it’s always best to just start.
Wealthsimple’s US & Canada website show you how much you can expect to make in gains too: