End of year review

Tayus

seeing as though it is the end of the year i am reviewing my finances and have decided to empty my halifax websaver and do something with eg. premium bonds or something else along those lines (not too much risk) i have £2000 to invest, i have already invested another £1000 in a guaranteed FTSE bond with egg, i dont want to put the money into another savings account.

Any ideas anybody??

deemy2004

regular monthly savers

The top ones are Abbey £500 and halifax £250 per month both paying 7%

Thus you could setup an S/O to the halifax monthly saver via your current account from the web saver.

If you do both, £2k would cover 2 months payments, with an new year incentive to save to meet the monthly requirement of £750 for both accounts (though you can opt to save less than that per month)

scuzz

What about a fixed rate bond? I saw one in Cheltnam and Glous for 5% and you only had to deposit £500.

Rafter

If you are earning and paying tax I'd look at a tax efficient product.

Either an ISA (cash or equity) or national savings (premium bonds or savings certificates)

All depends on how long you want to tie the money up for and your attitude to risk.

If you already have some riskier investments (your FTSE bond) you may want to go the cash isa or national savings route.

Premium bonds are a fun and safe investment but the return isn't great, particularly if you are unlucky and don't win a single prize in a year.

Always worth keeping some money in an easy access place to cover emergencies too - so keeping something in a savings account or alternatively have an 'emergency credit card' to achieve the same effect until you can liquidate your savings.

Good luck.

R.

Tayus

Right......

I have £1000 left to use so far i have bought....

Guaranteed FTSE bond £1000 (5 years)
Fixed rate bond £1000 (1 year)
Premium bonds £1000

What should i do with the last 1k??