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account for gf
john0
Posts: 122 Forumite
hi all,
i am looking to open an account for my gf to add monthly savings to. is it best for me to look at a cash isa, a regular saver or just an instant access saving account?
she will only be putting in a few hundred at most a month, so is there any point in using an isa as isn’t it tax free below a certain amount anyway?
secondly if not worth a cash isa then i would have thought a regular saver would be best?
she needs access to it but not instant access so don’t really want to lock away for a year.
i am looking to open an account for my gf to add monthly savings to. is it best for me to look at a cash isa, a regular saver or just an instant access saving account?
she will only be putting in a few hundred at most a month, so is there any point in using an isa as isn’t it tax free below a certain amount anyway?
secondly if not worth a cash isa then i would have thought a regular saver would be best?
she needs access to it but not instant access so don’t really want to lock away for a year.
0
Comments
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Isa is the way to go if she is a tax payer.
You can open one with as little as £1. All of it is tax free.
Why is she unable to open on, why are you doing it for her.
Shop around.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
because i understand them more than her, plus she is happy to not save so she will have no excuse if i set one up for her.0
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If she/you set an ISA up she will have to show ID and have her national insurance no.
Best way to do it also is to set up a standing order to go out each month.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
And your point is?..........
The OP didnt come on here for an English lesson.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
Monthly saver is likely to be the best option.
Where does she bank? thats probably the easiest if they have a monthly saver.
What is she saving for?
Self motivtion is the best approach0 -
What is with people on internet forums? I came on here to ask for some advice on opening an account, funnily enough I learnt how to use capitals at primary school, but well done to you Lansdowne!
Who said anything about controlling her life? I am setting up an account she can put her own savings in to, she will have control of how much she puts in and takes out, I am merely providing the tools.
Why do you feel the need to offer me advice on my relationship?0 -
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For most people that earn enough income to start paying tax it will usually be best to use the best cash ISA you can find. Think santander have one about 3%ish.
She can put £5640 each tax year into that - so if she is only planning to put a few hundred a month a way max then sounds like that should be enough?0 -
Cheers people appreciate it, yeah think an ISA is the best bet, I just wasn’t sure whether all savings are taxed and if not then maybe a regular saver would be better.0
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