Savings Log of a 26yr old on low pay

atush

I rec a mon of 3 months salary/spending. But 6 months is better. But at 3 months as long as you are still saving in cash you can do the PIP alongside.

F&C has returned to me nearly 50% in the last 3 years, and Graphite which I also invest in has returned 44. Ther eis more than one trust, there are many at F&C.

http://www.fandc.com/new/it/Default.aspx?id=78443

Witan which I save for my kids with is 32%, and Invesco perpetual inc & Growth which I also hold is more like 60%. you can look up any trust on trustnet.

longleggedhair

MoneyWaster2007 wrote: »

Just had a look at the F & C website and like the sound of the PIP where you pay £50 pm. I'd never heard of this before now. Does it generally pay higher than 3% which is the current best rate for cash ISA's? What sort of returns have you had from this investment?

And how much cash would you recommend I build up in my ISA before I consider investing?

As atush says at least 3-6 months wages in cash. I have the PIP and pay £200 per month in to various F&C funds. I like the commercial property fund as it has a good dividend. The returns are uneven. You can make 20% one year and lose 10% the next, but overall it has beat cash for me hands down, and is a good way to build up an investment without the risk that holding individual shares hold.

dawyldthing

jjjenny wrote: »

She teaches Primary School (I think, I'm a bad friend) but she is a savvy saver, solvent, HATES SMOKERS, loves nature, good meals out and not a massive party animal tbh.. Wow, I think I've made her sound really boring, woops...

Did she study at Leeds Trinity and graduate in either 2009 or 2010 as I probably know her as shes the same age as me and thats where I studied and a lot of the people I know are still in the area.

Eponym

Can you hold investment trusts in an ISA?

atush

"Yes, I beleive you can/ Some ofthe investment trust groups offer a service for this. Check their websites.

Ark_Welder

Eponym wrote: »

Can you hold investment trusts in an ISA?

Yes. Some of the IT management companies have their own schemes, but always check out the charges - both for dealing and any annual charge for the ISA platform.

Alternatively, a S&S ISA from a generic platform provider. Although they are funds, investment trusts are structured as companies that are quoted on a stock exchange. So an ISA that can hold shares for individual companies should also be able to hold ITs. But...check out the charges because there are some platform providers that charge an annual fee as a percentage of the value of shares held - this will apply to investment trusts whereas it might not apply to OEICs and UTs.

MoneyWaster2007

I'm a bit wary of risking my hard earnt cash to be fair and think I'll just stick to the safe route for now ie. continue to save into an ISA. But thanks anyway for the advice on investing.

My ISA got dealt a bit of a sucker punch today as I had to take the car into the garage. It was making a very loud metal scraping noise which turned out to be the brakes on the nsf. So to cut a long story short, it cost me £194!!! New calipers/ pads/ etc.

Luckily I had £37 in my car fund, so that helped a little, but I'm gutted I wont be able to hit my end of year target...

My ISA has gone from £1237 to £1080, although I do get paid a week on Tues which will take it back up to £1180 and if I can save a further £20 from this wage that will make it £1200. So in effect back to where I was.:eek:

snowqueen555

that car is a drain!

great to see the thread still going

ampersand

mw- it can't all be steady and upwards. [STRIKE]Life's[/STRIKE]Cars are not like that.

BUT, you still have that 4-figure plus sum growing.
Your car is now in good nick - things do happen with them. [Like mine atm]

Have a good weekend.

curlygirl1971

.....and at least you didn't have to go into debt to finance the repair - well done!