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    • munchalot11
    • By munchalot11 14th Jun 17, 5:37 PM
    • 2Posts
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    munchalot11
    HTB/LISA/ISA - where to start??
    • #1
    • 14th Jun 17, 5:37 PM
    HTB/LISA/ISA - where to start?? 14th Jun 17 at 5:37 PM
    Hi,

    I've done a lot of reading up about ISA's/HTB/LISA and have just got more and more confused! Looking for advice please.

    I'm a 24 year old female, and can save around £800-1000 a month with my new job ( I currently have no savings and a lot of debt in the form of student loans but have paid off my overdraft etc).

    I plan on buying a house eventually, but it's probably 4/5 years away. I am also planning on taking a 'gap hear' on a years time where I may do some casual work, but intend on spending most of the year travelling.

    My question is, what is the best way for me to start saving? Should I just put it all in a regular cash ISA for easy access, or start a HTB/ISA with some of the money that I then obviously wouldn't be able to use on my 'gap year', as I've heard it benefits to pay into them for a longer period of time ??

    Any advice appreciated! Thanks in advance!
Page 1
    • eskbanker
    • By eskbanker 14th Jun 17, 6:08 PM
    • 5,034 Posts
    • 4,778 Thanks
    eskbanker
    • #2
    • 14th Jun 17, 6:08 PM
    • #2
    • 14th Jun 17, 6:08 PM
    I am also planning on taking a 'gap hear' on a years time where I may do some casual work, but intend on spending most of the year travelling.
    Originally posted by munchalot11
    Playing it by ear?

    You should try to work out how much you'll need for your travels and therefore how much you'll have left to put aside - you're right that HTB/LISA are good options for saving for a first property purchase though. I'd suggest the latter, not least because the contribution limits are annual and you can't pay into ISAs when not UK-resident.

    Ignore cash ISAs beyond these though, there are plenty of better options such as regular savers or current accounts, see http://www.moneysavingexpert.com/savings/which-saving-account for a briefing.
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