You're not alone. 22% of people surveyed said they wouldn't consider investing because they're afraid of losing money.
But this fear of losing money might actually be losing you money. How's that for irony!
Reasons for not having a stocks & shares ISA (Source: 3Gem, Cebr analysis)
Given current interest rates (over the last 19 years), those saving for the longer term are likely to have seen a decrease in the value of their money by saving in a cash ISA. This is because their savings haven’t kept pace with inflation, so people are effectively losing money.
So if you’re one of the many people saving for the future e.g. retirement or kids, according to our research you could be better off if you invest rather than save in cash.
Do bear in mind that the value of investments can go up and down in line with the stock markets. So Investment ISAs are normally considered long-term investments – of at least 5 years – to balance out any short-term highs or lows.
If you're new to the world of tax-efficient saving and investing, it can feel like there's a lot to think about. We've a few more guides that can help.
Learn all about ISA limits and the different kinds available, and what might be right for you.
If you're investing for your child, a Junior ISA is a tax-efficient way of saving and investing for their future.
Not sure where to start, or how to find the money to save or invest? Our guide takes you through some options available.