Hoping for some advice on savings please?

beakerd02

Hi i have just joined and was wondering if someone could possibly give me some advice .. i'll briefly explain ..
I am currently having all my teeth done which was origionally quoted 20 thousand pounds.. Now i have paid a lot as and when i need to and have spent a few quid of the 20G i borrowed. So i just pay the dentist as and when i go and usually give £500 -£1000 every few months.
At the moment i have £9000 in an ordinary barclays savings account which is earning nothing . And i would say i will be using /paying the dentist £3000 in the next 12months.
What would be the best way to save say £5000 for a period of a year?
I have read a little about ISA's and to be honest its all confusing. . Any help would be grately appreciated as im one of those people who get conned by rouge builders, car sales people lol so i can help but feel dubious when the bank wants me to transfer to this that and the other.. though i realise they probably are trying to help! :think:

Thanks in advance

fullstop

Think you may have been conned done by your dentist as well £20.000 !!!!

Any interest you get from a cash ISA is tax free

Good luck at the dentist, can you you get another opinion re the cost?

RayWolfe

beakerd02 wrote: »

im one of those people who get conned by rouge builders, car sales people

...... and dentists?

beakerd02

lol :rotfl:..good call!

So if i put the £3600 into say a barclays ISA i can get it if needs be but will earn something for not removing it?

evenasus

Yes, you could access a Barclays ISA without loss of interest.

You were only ripped off, in the sense that all dentists rip us off.
I had a titanium implant, as a previous dentist had cracked my root. I'd had a root canal filling some years ago, on an upper front tooth.
So, implant, two new crowns and a couple of fillings later...£4000.00 spent!:eek:

Mind you, he had to pay for all the state of the art equipment and building I suppose.;)

Mikeyorks

beakerd02 wrote: »

What would be the best way to save say £5000 for a period of a year?

Try the West Brom E Saver 21 at 4.3% ...... if you can tie the £5k up until 31st May 10?
http://www.westbrom.co.uk/westbrom/savings.product?id=4538&FROM_CAMPAIGN=true&CAMPAIGN_SRC=HOME_PAGE

If you're a 20% taxpayer you will get a fraction more interest from the best available ISA .... but can only input a maximum £3600. So the fixed term deposit from West Brom is probably best overall.

beakerd02

Thanks very much to you both.. will look into it now.:D