The Power of Investing Little and Often – Take the 52-Week impulseSave® Challenge in 2017

It’s a new year and a great time to get motivated for a new challenge. If you’re still deciding on your New Year’s Resolution, why not take the chance to potentially improve your financial position or take steps to try to reach your goals sooner with our 52-Week impulseSave® Challenge?

The concept is simple, adding a small amount, between £1 and £52 into your investment each week of the year. We believe that investing should be accessible to everyone and we make it possible by taking care of the small amounts. With our world-first impulseSave® technology, you can easily top up from just £1 into a True Potential Stocks & Shares ISA, Personal Pension or General Investment Account. To date, over £54 million has been added through impulseSave®, with three quarters of all payments for £50 or less.

What’s the Challenge?

Each week of the year has a number and amount attached to it – Week 1 is £1, Week 2 is £2 and so on. Your challenge is to impulseSave® an amount each week for 52 weeks. By investing little and often, you’ll have invested an extra £1,378 by the end of the year.

Over 10 years, at the average Stocks & Shares ISA return rate of 7.4%, your extra investment could grow to £2,887 – meaning little and often could be the difference you need to reach your goal faster.

Compare that to a saving lump sum of £1,378 in the average Cash ISA with returns of 0.95%, after 10 years you would have just £1,515.

One participant who took the challenge between 1 January and 31 December 2016, who was invested in a True Potential Growth Portfolio*, ended the year with a total of £1,668.20, a net increase of £290.20 on the original amount invested (or 21.06% growth).

How Can You Join the Challenge?

If you took the challenge last year, you’ll know there are three ways you can take the impulseSave® Challenge.

1. Follow the Calendar

The simplest way to take the challenge is to top up £1 in Week 1, then £2 in Week 2, all the way up to £52 in Week 52. The benefit of this strategy is that it’s easy to start and get in the impulseSave® habit – you only need to impulseSave® £10 in January (£1 + £2 + £3 +£4).

The downside to this tactic is the end of the year. The challenge gets steadily harder to meet and in December (where you might have other financial priorities) you’ll need to impulseSave® £202 (£49 + £50 + £51 + £52). 

2. Reverse the Calendar

If you feel like you may not have much spare cash in December, you can reverse the calendar. This tactic also has the benefit of getting the hard work out of the way at the start of the year and the challenge gets easier over time.

On the other hand, you’ll still need to find £202 to impulseSave® in January, which may be a tough start to the year.

3. impulseSave® What You Can

To get around the issue of having one expensive month and one very easy month, you can check off as much as you can each week. If you top up £52 today, you can check off Week 52 and if you top up £36 next week, tick Week 36.

Of course, it’s tempting to start small and still end up with a lot to impulseSave® at the end of the year. If you follow this strategy, it can be helpful to impulseSave® as much as you can each week.

Get Your Free impulseSave® Challenge Calendar

Why impulseSave®?

By using impulseSave® to take the challenge, you can easily top up your existing True Potential investment each week.

Getting started with impulseSave® is easy, you just need to add a debit card to your account once and it’s securely saved for future top ups. You can access impulseSave® online and via our mobile apps. To top up, all you need to do is log in, choose your amount and add the funds – it just takes a few seconds.

This year, you could invest an extra £1,378 towards your personal financial goal. This could be the difference you need to stay on track or even reach your goal early.

If you haven’t set up a goal yet, you can get started with just £50 – ticking off the third biggest amount on the challenge straight away. And, because with impulseSave® you can top up your investments from just £1, you’ll also be able to tick off the easiest week of the challenge.

Daniel Harrison, Senior Partner at True Potential Investor, said: “Everyone kicks off a new year with the best of intentions but we all know it’s hard to stick to good habits. Unlike other resolutions, which often fall by the wayside, the impulseSave® challenge works because it’s quick to do and savers can see every day that it’s having an effect. Without that instant gratification, it’s too easy to lose motivation and give up.”

Start your ‘little and often’ journey now by taking the 2017 impulseSave® challenge.

Get Your Free impulseSave® Challenge Calendar

*Launch Date: 1 October 2015

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