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Best Method of saving for a non tax payer
markl202
Posts: 4 Newbie
My daughter is an 18yrs. old student living at home with little or expenses. She has opened a current account with Lloyds has a part time job & has started to pay she keep at home, all a bit of a shock to her. She was in a road accident at christmas & has been told she will receive about £2500. I have asked her her intentions & was told "I want to save it." Being a non tax payer what options should she consider?
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Comments
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For savings accounts, she should look at mini Cash ISAs.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Even though she is not a taxpayer, she will become a taxpayer in the future. If she wants to keep the savings untill then, and save more after then, cash ISA is probably the best option. Otherwise she can use any savings account.markl202 wrote:Being a non tax payer what options should she consider?
See Instant Access , Mini-cash ISAs, Moneysupermarket* , Moneyfacts links in the blue box above.0
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