Savings - What to do?

tinkerbelluk

Hi,

I wonder if anyone can offer me some advice - at present I have about 8k just sat in a bog standard savings account. Now I am sure obviously that I am not reaping the benefit of it. Can someone please explain about ISA's etc or should I just move the money to a higher paid savings account?

Any help would be great. :rudolf:

innovate

If you are a taxpayer, you would definitely benefit from an ISA (£3K mac per annum in cash ISA). If you get less than 4.8% interest on your savings, you should move the money to a better account.

Have you worked through Martin's articles on savings?

Greycrow

tinkerbelluk wrote:

Hi,

I wonder if anyone can offer me some advice - at present I have about 8k just sat in a bog standard savings account. Now I am sure obviously that I am not reaping the benefit of it. Can someone please explain about ISA's etc or should I just move the money to a higher paid savings account?

Any help would be great. :rudolf:

There's a sub-forum above that covers all the rules etc on ISA's, together with informative discussion. That should get you started.
As innovate says if your a tax payer, especially a higher rate one, they're definitely worth looking at.

tinkerbelluk

Thanks both I will go take a look :xmassign: