Best way to make money grow over the next 12 months

debrsl1

Hi we have a £25,000 lump sum to invest plus can save £500 per month as well, what is the best way of making this money grow over the next 12 months?

Thanks Deb x

gelato_cat

Savings accounts:

Put £250/month into a Lloyds regular saver (8% AER) and £250/month into an Alliance and Leicester regular saver (12% AER).

Each of you open a mini cash ISA and put £3k each in.

The rest: put into a high interest account like the Alliance and Leicester 5.38% AER one or Bank of Scotland 5.25% one.

You may get a better return if you invest the money rather than put it into savings accounts, but I know nothing about investments - I tend to stick to low-risk stuff! Maybe someone else can advise...

HTH

Suze

debrsl1 wrote:

Hi we have a £25,000 lump sum to invest plus can save £500 per month as well, what is the best way of making this money grow over the next 12 months?

Thanks Deb x