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A Black Friday deal that will really help you save money

Each year, Black Friday is said to grip the nation as savvy spenders search high and low for the best bargains. This Black Friday, treat yourself to a deal the future you will thank you for. 

Moneyfarm is helping you save money on management fees this holiday season. We’ll manage your investments for free for six months, when you invest £5,000 or £10,000 before 30 November.

If you haven’t finished registering your account, just pop in the relevant promotion code in the promo box when you agree to the terms and conditions.

  • BlackFriday5k18 – Invest £5,000 and get it managed free for six months. T&Cs apply
  • BlackFriday10k18 – Invest £10,000 and get it managed free for six months. T&Cs apply

Terms and conditions apply. This offer is available to new customers and those who have not yet invested in their account. If you have any questions, get in touch. To see the charges you will be subject to please head to our pricing page.

Why planning for the future is so difficult

We live in a world of immediate gratification, and Black Friday feeds into this short-termist mindset to prioritise immediate rewards at the expense of long-term plans.

It’s important you treat yourself, and there’s nothing wrong with getting a great bargain on items you need – whether that is a new outfit, the latest technology or a well-earned holiday. But with nearly a third of shoppers admitting they waste money in Black Friday sales, maybe it’s time to look after the future you instead.

Essentially, short-termism prevents society from investing in their future happiness and financial wellbeing. In the UK, people place the same weight on planning 12 months ahead as they do ten years in the future, Moneyfarm research shows.

What are Brits saving for?

Although the intention is there, only around half of us are actively saving money towards our goals or have set targets, with around a third just thinking about doing something.

Brits are also saving for:

  • 23% saving for retirement
  • 23% saving to lose weight
  • 19% saving to buy a house
  • 10% saving for children
  • 12% saving for a career change
  • 9% saving to quit smoking
  • 8% saving to get married

It can be difficult to balance instant gratification with long-term planning, but just how strong is this desire for the immediate becoming? We tested the strength of the nation’s impulses with a simple choice. If you were offered £19 today or £25 but you must wait 53 days.

Nearly half of respondents (49%) chose £19 today, even though they would be £6 better off less than two months later. The equivalent of 31% growth, many would jump at this investment opportunity on the financial markets.

For these individuals the trade-off is one of time not money, highlighting a strong present-day bias.

Take control

Unfortunately, people who find it hard to fight against impulsive decisions feel out of control, which extends to our financial security.

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By making an investment, your capital is at risk.

In our Moneyfarm Decodes: Short-termism research we found that whilst most of Brits feel ‘somewhat prepared’ for their financial future, a fifth feel ‘totally unprepared’, and 12% try not to think about financial wellbeing in the future at all.

It can be difficult psychologically for anyone to stay motivated when trying to achieve long-term goals. Plans get made, but attention can quickly shift to what is a new immediate priority.  

Almost half of Brits believe everyday responsibilities are the biggest barrier to attaining their long-term goals, which is reflected in the way we save and invest.

Treat the future you this holiday season with Moneyfarm’s Black Friday deal. Not only will you get your money working harder for you on the financial markets, but you’ll save in fees to so you can keep more of your money invested.

Investment advice

It takes time, skill and knowledge to invest successfully for your goals. Without the right investment solutions, people can be left making the wrong decisions with their money or be prevented from investing in the first place as it falls to the bottom of the to-do list.

Luckily, technology has allowed financial services to innovate. The industry is now creating products that meet the changing demands of consumers with services that are simple, cost-effective and hassle-free.

Technology has given Moneyfarm the opportunity to make cost-efficient investment advice accessible to consumers. Gone are the days where large sections of society are ignored by wealth managers for not having enough money to invest.

By understanding your financial background and appetite for risk, Moneyfarm is able to outline your risk profile and match you to an investment portfolio that’s been built by a team of investment experts to reflect your requirements.

This advice continues for as long as you invest with Moneyfarm, for free, as our suitability tests run regularly to ensure you’re in the right portfolio.

Our investment portfolio are also fully-managed by a team of experts, who monitor the markets on your behalf to ensure they put you in the best position to reach your goals.

We believe time is one of the most crucial elements of an investment strategy and structure our investment style around this philosophy. Still, our Investment Team rebalance the portfolios when needed to adjust to the evolving backdrop.

If you have any questions about Moneyfarm’s investment advice or fully-managed portfolios, book a call with our Investment Consultants.

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