Should I save or invest my money?

Both investing and saving can help you reach your financial goals and make your money work harder. Savings should be used for short-term needs (less than 5 years) whilst investments should be considered for medium to long-term goals (at least 5 to 10 years).

By investing your money you have the potential for greater rewards than using a savings account, but it does involve higher risks.

If you save with a bank or building society, you may have easy access to your money and can generally make withdrawals when you need to. In return you earn interest. It’s always a good idea to keep some money to hand for emergencies or to cover any short-term goals. There is a lower risk of losing your money but the impact of inflation may mean you can buy less with the same amount of money over time. Savings tend to be best if you don’t want to take any risks with your money, have a short-term goal in mind, and need easy access to some of your money.


If you are looking for an easier way to invest, you can choose from our ready-made fund selection.

Share Dealing

Whether you want a trading account, tax-efficient investing or you're planning for retirement, we've got an account to suit your needs.

Please remember that the value of an investment and the income from it can go down as well as up and you may get back less than you invested. You should make sure you understand the risks of investing before opening an account.

We don't provide advice so if you are in any doubt about making your own investment decisions we recommend you seek advice from a suitably qualified financial adviser.

Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.