Where to put my money.

mbs1

First up thanks for reading

So have come in to 10k and want to save it all.

Can I put 5k in an Isa in my name and 5k in the wife's name?

If so which are the highest paying ones at the mo?

I can lock 5k away for 2 years but the other 5k only a year just in case we do need it?

Where to put it to get the best return?

If I've missed any info just say and I'll update.

Appreciate the replies all

:beer:

jimjames

Yes you can put £5k in each name but once the money is in that person's name it is then theirs - not a problem if you're married.

Links at the top give the highest rates so just pick the one that suits your needs best for access, rate and branches.

mbs1

Yep married with 3 kids.

Money is hers but will split it up to get best rate.

Does it matter that I pay high rate tax and she doesn't pay any tax as she's a housewife.....?

saintalan

HI

Given your wife doesnt pay tax and you dont want to the lock the money away, then get her a Santander 123 current a/c pays 3% and money off some bills. You could also consider a Nationwide Flex a/c and/or if you want to squeeze a little more juice then feed some in to a Regular Saver account.

Cheers

Alan

mbs1

Hmmm... Checked out the Santander 123, according to bills I pay plus interest from the money in there, we'd be looking at over £50 a month being paid in! That's ace plus if she got a 123 credit card we'd get another £50 cash back a year on fuel too.

Thanks for that any other ideas?

saintalan

mbs1 wrote: »

Hmmm... Checked out the Santander 123, according to bills I pay plus interest from the money in there, we'd be looking at over £50 a month being paid in! That's ace plus if she got a 123 credit card we'd get another £50 cash back a year on fuel too.

Thanks for that any other ideas?

Yep another £55 here, havent checked other cashback sites.

Cheers

Alan