Best Plan for Saving

qtitch8

Im 22 and have never saved any money in my life.
However I want to start. Where is the best place to put my money?
Im looking to save £150 - £200 a month from my pay.
Thanks in Advance!:j

Lokolo

Can you save for 12 months and not need access?

qtitch8

Yes thats exactly want I want to do. Long Term and No Access

ses6jwg

The problem with fixed term bonds is that usually you cannot add to them once opened.

What about starting up a stocks and shares ISA, hand-picking some funds (say 3-4) to suit your needs and risk profile, then drip feeding into them?

Alternatively, if you would prefer no risk, open a cash ISA and drip feed into that - direct debit from your current account every payday.

Lokolo

ses6jwg wrote: »

The problem with fixed term bonds is that usually you cannot add to them once opened.

What about starting up a stocks and shares ISA, hand-picking some funds (say 3-4) to suit your needs and risk profile, then drip feeding into them?

Alternatively, if you would prefer no risk, open a cash ISA and drip feed into that - direct debit from your current account every payday.

http://www.halifax.co.uk/savings/regularsaver.asp

Or how about a regular saver.

ses6jwg

Good idea, though I always think its important to get your ISA allowance in first. Some will beg to differ.