4. Choose an investment provider

Once you know what you want to invest in, the cheapest way to do so is to use an investment platform that allows you to open an Isa, Sip Or general investment account.

Popular platforms include Fidelity, Hargreaves Lansdown, Interactive Investor and AJ Bell, but there are many small businesses and app-based apps. “robo-advisors” to consider too.

When comparing platforms, look at your account management fees, as they can reduce your returns.

5. Start investing

Once you have found a suitable investment platform, you can open your investment account and get started.

Generally, the sooner you can start investing, the better. Your investment will have more time to grow and you will benefit from compounding, allowing you to earn a return on your returns. Investing early also gives you more time to ride out bumps in the stock market.

Of course, the reality is that not everyone can invest when they’re young, but the good news is that it’s never too late to start.

Camilla Esmund, of stockbroking firm Interactive Investor, said: “There is no perfect time to start your investment journey. The important thing to carefully consider is your life stage, financial goals, and risk tolerance.

It’s also important to consider your overall financial situation, particularly if you have existing debts and emergency cash savings.

Will Stevens, head of financial planning at wealth manager Killik & Co, said: “Everyone should ensure repayment of any unsecured debt, especially those with high interest rates like debt. credit card or personal loans – as these can attract much higher interest. rate than any return on investment.

“Next, make sure you have a cash fund in the bank that you can access in case of an emergency, such as a boiler or car breakdown. Once these other areas are covered, you can start thinking about investing.