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Son's first full time wage packet-advice please
Comments
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DireEmblem wrote: »This isnt really for everyone but how about say Zopa?
Even an HSBC bond account where it has minimum monthly payments has a rate of 8% before tax.
Zopa is good but i dont like the fact that you have to invest it on 3 yr loans as a minimum, but it does provide a monthly income.0 -
The trouble with saving it up FOR him is he then doesn't learn to save himself...the 'best' way to save (IMO) is to have something to save FOR - driving lessons/car etc - even just a financial cushion...saving needs to be ACTIVE and not PASSIVE - so he gets his pay, allocates his board, expenses and earmarks some to save THEN thinks about extras.Don't put it DOWN; put it AWAY"I would like more sisters, that the taking out of one, might not leave such stillness" Emily Dickinson
Janice 1964-2016
Thank you Honey Bear0 -
cashbackproblems wrote: »Zopa is good but i dont like the fact that you have to invest it on 3 yr loans as a minimum, but it does provide a monthly income.
But on a positive note, it means you cant touch the money until you have (hopefully) built it up for a few years.0
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