With Christmas approaching, receiving a financial gift can be a great opportunity to strengthen financial resilience and bolster wealth.

Myron Jobson, Senior Personal Finance Analyst at interactive investor, comments on how investors can effectively manage a financial windfall, save, and invest to achieve their goals.

Before you decide how to allocate your financial gift, first consider your current financial standing. Do you have any outstanding debts?

Are there upcoming expenses or financial goals you need to consider – like saving for a property or school fees? Having a complete understanding of your financial position will help you make informed decisions about how to use your gift effectively.

If you have specific short-term financial goals, such as buying a home, furthering your education or starting a business, allocate a portion of your gift towards these objectives.

Setting aside money in a high-interest savings account or a dedicated savings account for each goal can help you stay organised and motivated.

Full press release: The gift of investments: interactive investor on how to manage and invest a financial windfall this Christmas – and beyond

✉️ Myron Jobson, Senior Personal Finance Analyst, ii on 0750 801 4552