Student Life | Issue 41

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MY MONEYCO-EDITOR ADRIANNA GNIFKAInvesting your money as aTeenagerBY ADRIANNA GNIFKAThough trying to save money as ateenager is hard enough nowadays,there are ways to make your moneygrow over the long term through smallinvestments. Whilst you cannot investin the stock market until you are 18 inthe UK, there are alternatives such asthe Junior ISA.The Junior ISA can only be opened bya parent or legal guardian of a childfrom birth up to the age of 18 (anyoneover 18 can open a regular ISA forthemselves) yet once the child turns16 they will be able to manage theiraccount. The way it works is that byputting money into the account youare investing into specific shares andbonds. These will generate profits overtime and anything you earn will befree from tax. You can decide to put inas little money as you like, as often asyou like, or you could invest regularlywith a set monthly amount. Though inthe US, teenagers under 18 are legallyallowed to trade and invest in thestock market as long as it is undertheir parent’s name, a Junior ISA is thesafest form of investment allowed forunder 18s in the UK.If you are interested in trading stocksonce you turn 18, it is best to learnthe basics by researching, lookinginto companies, watching videos,and reading books about the stockmarket. Popular trading apps suchas Trading 212 offer the chance topractise investment with a fictional£50,000 which is a great way tolearn what to do and what not to do,and will show you how easily youcould lose money as well as gainit – since the stock market can beunpredictable and has many risksassociated with it.There are many other stock simulatorapps out there that allow similarchances to practice investing beforeyou turn 18 and may decide to do itfor real. So whether you decide toopen a Junior ISA or learn more aboutthe economy, it is best to be wiseabout how you can make the most ofwhat you save and invest.62 62 ••MY MARCH MONEY 2019 • STUDENT LIFE
OUR EDUCATION PARTNERS63 • MARCH 2019 • STUDENT LIFE
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STUDENT LIFE IS PROUD TO BE SHORTLI
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Meet our Co-EditorsOur magazine wou
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MY MONEYCO-EDITORADRIANNAGNIFKAHi!
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Student Life | Issue 41

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