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What should I do with my savings?
Frith
Posts: 8,823 Forumite
Hello.
My Grandad left me some money in his will so I have just over £1000 to do something with. At the moment, it is in a Lloyds instant access saving account and I know the interest rate is very poor.
What else could I do with it? What are the pros and cons of getting an ISA?
Hopefully, I would not need the money but I probably would not be able to add much to it.
Thank you!
Liz :beer:
My Grandad left me some money in his will so I have just over £1000 to do something with. At the moment, it is in a Lloyds instant access saving account and I know the interest rate is very poor.
What else could I do with it? What are the pros and cons of getting an ISA?
Hopefully, I would not need the money but I probably would not be able to add much to it.
Thank you!
Liz :beer:
0
Comments
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There are no cons in getting an ISA...............................I have put my clock back....... Kcolc ym0
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Your best place to start is Martin's article:
http://www.moneysavingexpert.com/savings/savings-accounts-best-interestYou're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0 -
IF you do not need access to it, opt for a fixed rate ISA which will tie up the money for a period of time. If you choose this method you may actually get something back at the end of the fixed period.
If you may need to dip into it, there is hardly anything worth opening, you could save more money buy buying Tesco Value food instead of proper food.0
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