£1k a month to save must be easy access and risk free

Flossie.eac

I think my title says it all , currently receiving e tea income of £1 k a month after deductions and would like to maximise its potential but having read through t and c s on savings accounts I'm unsure if I can save this amount each month ( I suppose I could split it between 4 accounts but what a faf!)

Any suggestions gratefully received I don't have an ISA but again the question relates I guess

lawriejones1

Everyone will tell you to stick it in high interest current accounts. There are lots of threads about it around the place that are worth checking out. Stock market makes no sense and cash ISA rates are low.

jimjames

Faff=more income

MEM62

There are no risk-free savings or investments. Stocks and shares are subject to market risks. Cash is subject to inflation risk.

Pincher

If you find this risk free vehicle, please share.


I wonder if Icelandic ISAs qualified before they went belly up.

Linton

Why must it all be easy access? If the answer is that you want to buy a house in 3 years time - fine, that seems reasonable. But in 10 years time having £120K in immediate access cash seems foolish as on past history it will barely keep up with inflation.

Can you split between immediate needs/emergency funds in cash and long term savings elsewhere to get a much better long term return. For example by investing or even by fixed term savings.