I think it's about time I became more finacially astute and ISA's seem to be an easy fuss-free way of saving
Anyone got one?
If so, which ones are good & easy to open (i.e online)??
(I don't really understand all this bonus stuff associated with ISA's either)
:/
ye
i dont understand much, but i have one with lloyds..
basically.. put money in, get higher interest, never lose money, can take it out whenever.
win win situ.
look around though.. i just went with this one as its my bank and I'm = Lazy
they're good
instant access, about 5 times more interest than a typical savers account. The annual limit of them has just gone up to £3,600. If you save less than that a year they're easily the bst type of savings account you could have.
but don't delay
the £3,600 is the allowance for next tax year. You can still save £3000 within the next week, and it won't count towards your savings.
And remember the limit is the amount you put in. So if you've already put in £3000, even though you've taken half of it out during the year for a holiday, then you can't put any more back in to replace it. (But it'd still be better than having paid tax on the interest).
"i'm not qualified to give advice but..."
if you already have savings, and havent used your ISA allowance, then you should before the end of the tax year.
£3000 in a cash ISA i basically just a tax-free savings account. I haven't got around to opening one yet, but I will.
The rest (another £4000) of your allowance can be invested in an equity ISA made up of stocks and shares. Which should pay-off over the long-term, but is a risk. The tax incentives should be enough to make it worthwhile - but the richer you are the more worthwhile it is.
I'm not going to bother. If you are going to do that, there's a good article here:
http://www.thisismoney.co.uk/investing/article.html?in_article_id=416718&in_page_id=166
^^Howard from the Halifax ads
:D
who gives you extra!?
smile mini cash isa
www.smile.co.uk