There are hundreds, if not thousands of personal finance sites on the internet offering information and the option to buy securely online. Many even offer comparisons between similar products to help you choose.

You can browse at your leisure, in your own time and your own home, print information off and take your time deciding – it’s easier than ever to get all information you’d ever want.

Pros

• Many sites allow you to compare financial products, or will rate them, which can be useful in the research stages. And you can often also read reviews from other people who’ve invested in a particular product or company.
• It’s convenient, you can do it at your leisure and you’re not limited to buying between 9am and 5pm.
• It’s quick – you can usually just complete a form online, and then sit back and wait for everything to be set up.

Cons

• It may be difficult to navigate what could seem like endless information.
• You’ll be buying without advice, so you’ll have to be very confident that a product is right for you.
• Lacks the convenience of speaking to a ‘real’ person who could address any personal concerns.

If you’re really comfortable in the online environment and have a very good idea of what you want – there are definite advantages. But it’s easy to find yourself out of your depth with no sign of a helping hand in sight.

A good way to use the internet is for research, to get an idea of what’s available and if a product type broadly fits in with your needs, then speak to a financial adviser before you commit to buying.

There are risks to buying without advice. Read the small print, use the Financial Services Authority’s firm checker service to find out if a particular provider is regulated, and be aware that you’ll have to make the decision without advice.

You may want to buy a specific product through a particular company because you’ve seen it advertised or after doing your research you think it’s the one for you. In this case you just log on to the relevant website and get going.  The address will usually be shown on the company literature. Alternatively, you can type the name into the address bar or use a search engine to find it for you.

Do your homework – make sure you know what you’re buying before you make your decision. Take the time to research the companies you plan to do business with and make sure they’re reputable.

Surf the web – the benefit of the internet is that it’s easy and fast to shop around and compare options. Take advantage of this to be certain you’re getting the best deal for your money.

Tools of the trade – keep an eye on tools and trackers to watch what’s happening with your money live online.