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Have you ever considered a regular savings plan?

As the UK stock market show signs of a short-term bounce, although whether this will continue remains to be seen, more and more of the UK population are looking towards the stock market for their future investment requirements. As UK bank interest rates continue to fall, with rumours they will bottom out at around 0%, many investors seem to be looking at alternative ways to make their money work such as collective investment schemes (such as Unit Trusts and OEICs).

While there is no doubt that there are still significant risks attached to both the UK stock market and the property market those looking longer term may well look to take advantage of the recent depressed state of the markets. However, many investors are unsure when to invest, how much to invest in and which areas to invest in. But have you considered collective investment schemes with regular savings plans?

Regular savings plans are long-term investment plans whereby you set up a direct debit for a specific amount each month which is invested into a fund of your choice on a long-term basis. As you are investing month by month you will be able to take advantage of both the highs and lows of the stock market on a long-term basis. Pound cost averaging, which basically means the lower the price of the units the more you are able to buy, can prove very beneficial to those looking longer term and able to put away a defined amount of money per month.

However, as with all investments it is vital that you take professional advice to ensure you are taking the correct course of action for your situation in the short, medium and longer term.

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