Saving £1000 a month, where and who?

riadh023

Hi all,

Im looking for a bit of advice. I'm currently saving £300 a month into a 4% HSBC savings account and another £350 a month into an ISA, I have another £1000 a month that I would like to invest. Can anyone advise on the best way for me to invest the the extra £1000.

Any help would be greatly appreciated

Thanks

jimjames

Have a look here.

http://www.hl.co.uk/

Not the cheapest for big portfolios but a good place to look for getting ideas and understanding about investing.

This site also has some good info

http://monevator.com/

£1000 per month will just be over the amount you can get in an ISA but if you are saving in cash you need to deduct that from your total.

Archi_Bald

Do you mean invest (i.e. put into equities for at least 5-7 years) or save (i.e. keep as cash, to spend in the next 5 years, or use as your emergency cash fund)?

What tax band are you in?

Do you have a pension / does your employer offer a pension scheme?

Thrugelmir

Are you planning on buying a property?

riadh023

Thanks for the quick responses.

I intend to have access to the cash within the next 3 years at which point I intend to purchase a property.

Im currently paying into the company pension scheme.

Im basically just looking for the best way for me to rack up some interest on the £1000.

innovate

Look at the MSE Savings article. There is a range of current accounts that will pay you the best interest rates if you are a basic rate tax payer. If you are a higher rate tax payer, put as much as you can into a cash ISA.