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Money Management Apps: Moneybox in Review
 
What is it?An iOS or Android mobile phone app
What does it do?Allows purchases to be rounded up to the nearest pound and the change invested
Who is it aimed at?Tech savvy millennials or those with relatively little to spare but wanting to start to invest for their future
What does it invest in?Three risk balanced portfolios of cash, equities and property, rated as 'cautious', 'balanced' or 'adventurous'
What account types does it support?General Investment, ISA, Junior ISA, Lifetime ISA (coming soon)
How much does it cost?£1 per month subscription fee
0.45% of invested funds platform fee
0.23% fund charge
Muckler's viewAny initiative to get people saving and investing is to be applauded. With relatively small amounts of cash invested it will take a while to build a significant pot and fees as a percentage are relatively high on the journey.

Easy to be cynical, but if it engages the next generation of investors Moneybox will have served an important function.

 

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