June 1, 2020

Start investing with your holiday pay? BOTS explains.

This week a lot of people deposited their holiday money. Research carried out by ING shows that this year we are not using our holiday pay for holidays but rather to save or start investing. So how do you decide what's best for you? And how do you start investing? BOTS explains.

BOTS by RevenYOU | Investing with your holiday pay
BOTS by RevenYOU | Investing with your holiday pay

Holiday pay

Every year in May, generally everyone who works as an employee receives his or her holiday allowance. 8% of your annual salary. With an average income of €36,500, that's over €2900. Keep in mind that this is a gross amount and that you still have to pay tax on it. Your holiday allowance is added to your annual income, so you often end up in a higher tax bracket for this gross amount. Due to the corona crisis, many people are not spending their holiday pay this year. ING conducted a survey and concluded that people would rather save or use their holiday pay to start investing this year.

Start investing

How do you decide whether you should start investing with your holiday pay? Investing is done with money that you do not immediately need or will not need. If you have debts or want to build up a buffer first in case your washing machine breaks down, always arrange this first. Therefore, check carefully how much holiday pay you get and which part of it you can (and want to) use to start investing. Also think about whether you want to make a one-time deposit or whether you want to make a fixed deposit in the coming months. Handy to know: at BOTS you can already start with a deposit of €50,-.

BOTS by RevenYOU

The BOTS app is an open platform on which expert developers offer their bots. These bots invest for you. They make their choices based on artificial intelligence, machine learning and algorithms. So bots are actually automated trading strategies.

With our app, the best trading strategies are now available to you. And not just for the richest 1% in the world. In this way, together we will turn the world of investing upside down and make it fairer and more transparent.

With BOTS you can first follow a certain bot (strategy) before you actually commit. Good, because then you already have a little feeling before you start. Start with a low deposit, an amount you can miss. Practice money as it were. Invest it in a bot that you have followed for a while, and which you think suits you well. This way you get used to the fluctuation in the market. They're always there.

In terms of investment, BOTS focuses for the time being on the crypto funds. And so we do this in an automated way. In the long term, we do not only want to offer crypto investments, but also shares, bonds and investment funds. We are working hard to make this possible over time.

BOTS by RevenYOU helps you further

If investing is new to you, a lot comes your way. A lot. Make sure you keep yourself informed. Don't you know something? Then check it out. At BOTS we are always willing to explain it to you. There's no such thing as stupid questions. One phone call and you can continue on your way. It's also useful to keep yourself up to date. We previously wrote an article with 9 tips to get off to a flying start with investing.

Investing is for everyone

Everyone should be able to invest. And now they can. With BOTS. Together we are going to make the world of investment fairer and more transparent. Are you interested, but your question hasn't been answered yet? Take a look at the FAQs on our site. Or contact us, we will be happy to explain it to you in person.

The BOTS app is now live

Download the BOTS app on your mobile phone today! For Android click here, for Apple click here.

There is no such thing as risk-free trading. It is possible to lose (part of) your stake.