Saving advice for young newbie

tevad

Hi, new to site, and joined as i am now at the age (22) where i need learn how to save and invest my hard earned money wisely.

I am now in the fortunate position where i have saved £20,000 over the years i have been working so far. I hope to buy my first house in just over 12 months from now.

I am looking for advice on the best ways to invest/save this money to get the most amount back from it in the 12 months leading upto my property search. I will not need to dip into this money at any point in these 12 months.

Any advice would be greatly recieved.

Thanks. Dave

Baldur

If your timescale is only twelve months, forget investing (in my opinion) and look for the best savings vehicle for your cash - check out the usual comparison sites to see what would suit you:

http://www.moneysavingexpert.com/banking/
http://www.moneyfacts.co.uk/money/savings/1/short-term-fixed-rate-bonds.aspx
http://www.moneysupermarket.com/savings/
http://www.fsa.gov.uk/tables/bespoke/SavingsAccount

tevad

Thanks, I have found this one. What do you think?

tevad

sorry, here is the link:

http:// www. moneyfacts. co.uk/money/ savings/default.aspx?TabID=1

Baldur

tevad wrote: »

sorry, here is the link:

http:// www. moneyfacts. co.uk/money/ savings/default.aspx?TabID=1

Your link doesn't work.

What I think is irrelevant, it's what you think that counts - if the account's interest rate and Terms & Conditions suit you, then go for it.