Saving and Share

Fuzzythinking

Hi

I am terribly an ultra-newbie here and I have ton of things to learn at this stage. I have two questions for you. Hopefully you give me sensible advice.

Question 1:

I am currently saving £20 per month and do you know which saving account would be ideal for me?

Question 2:

I would like to invest some money in share but which blue chip company would you recommend me to invest now in order to get good dividend/income?

Kind regards

Fuzzythinking

:j

jonesMUFCforever

Fuzzythinking wrote:

Hi

I am terribly an ultra-newbie here and I have ton of things to learn at this stage. I have two questions for you. Hopefully you give me sensible advice.

Question 1:

I am currently saving £20 per month and do you know which saving account would be ideal for me?

Question 2:

I would like to invest some money in share but which blue chip company would you recommend me to invest now in order to get good dividend/income?

Kind regards

Fuzzythinking

:j

Answer to 1
If you have no cash savings anywhere then open a mini cash Isa. (You can put up to £3000 per tax year with no tax to pay on the interest)
Answer to 2
It is not acceptable (I think) to give you specific company names under the board rules. No doubt the Mods will advise differently if this is wrong.
Generally first get a cash savings figure of around 3 months take home pay as your emergency fund before investing in other areas.
If you do not have enough expertise to invest in a single share see about investing in a fund through an OEIC or unit trust.You will have a range of funds to invest in and you need to decide what your risk and reward attitude is.
The higher the risk the greater potential of gains but also the greater potential to make losses if the markets turn against you.

mattimpat

Hi, I'm also a newbie here.

I don't know about shares, but for savings accounts I find that the Money Supermarket is very useful (http://www.moneysupermarket.com/savings/). You put in your requirements and it shows you the accounts with the best interest.

It sounds like you are talking about a regular savings account. The top few accounts on the list require that you also have a bank account with the same company. Therefore, you need to look through the details of each one carefully to decide the best one.


Matthew

mattimpat

I didn't read the other reply ... I agree that ISAs are also good. Have a look at Martin's guide to them.

The best advice I can give is to research everything as thoroughly as possible. You have to be aware of things such as withdrawal penalties. It is a horrible feeling knowing that you've made the wrong decision only after you've actually made it

Matthew