Best place to put £20

Nicky321

Can anyone give me an idea of the best place to put £20 a week saves. I want to put £20 away each week, but may need to get access to it maybe 2 times a year.

mcerazer

ISA account

lapat

halifax sharebuilder account is a good option pick a ftse 100 company to invest in and away you go.
utility comapny or the likes are safe bets and yield good dividends
united utilities pays roughly 60p per share dividend a year and this all goes back into the account to buy shares.and they have just been listed in the top50 performing companys(profit) in the uk

Example:say you have 100 shares at the end of year one through 20 per month
you will get £60 dividend which will buy you approx 10 shares
so first year end you would have 110 shares the next year you buy another 100 shares you will get dividends on 210 shares which will convert if the same rate to approx 230 shares and so on

excellent account for a long term investment

jonesMUFCforever

lapat wrote:

halifax sharebuilder account is a good option pick a ftse 100 company to invest in and away you go.
utility comapny or the likes are safe bets and yield good dividends
united utilities pays roughly 60p per share dividend a year and this all goes back into the account to buy shares.and they have just been listed in the top50 performing companys(profit) in the uk

Example:say you have 100 shares at the end of year one through 20 per month
you will get £60 dividend which will buy you approx 10 shares
so first year end you would have 110 shares the next year you buy another 100 shares you will get dividends on 210 shares which will convert if the same rate to approx 230 shares and so on

excellent account for a long term investment

Did you read the original post?
OP wants to put away £20 per week and have access to it roughly twice yearly.
A share based investment is no where ideal for this type of saving if customer expects to have to dip into it twice a year!

quickquid

I suggest you list your criteria into a financial search engine and then you can see what penalities there are with each institution. If you are prepared to live with just one withdrawal a year then Scarborough BS are doing a regular saver under the umbrella of an ISA yielding 6%

lapat

that depends on when he want to dip into it if he does it just after the divended hits what the problem..?

jonesMUFCforever

lapat wrote:

that depends on when he want to dip into it if he does it just after the divended hits what the problem..?

Shares can go down as well as up for starters.
Putting it all down to one share makes the scheme even riskier than something like a Unit Trust.