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Saving for the Future
Ellemaid
Posts: 31 Forumite
hiya,
Im after some tips on whats the best way to put some money away.
ive got £20,000 which i just want to put away until August 2010.
Ive saved this much away espicially to pay of my parent's endownment policy, which matures in 2010. The money, till now, was in an Internet Saving Account and i was told to take it out to put it into a better savings account.
but, i dont think it will be building very well, whereever i put it.
im aiming to reach £25,000 by 2010, which i think is possible if im careful in where i put it away.
i have spoken to an financial adviser at my local halifax branch. i was advised to put £10,000 away for 5 yrs which i dont touch for 5 yrs. an investment plan. the other £10,000 he has told me put in a small savings plan which matures every year. this allows me to access it, if there is an emergency.
he has told me that, since im saving my money in a mini ISA every month (£700 of my wages), i will be ok when the time comes to pay the mortage. i will have enough.
i do think this is good, but my gut feeling is that, there is a better plan which i will benefit more from.
Apart from this, I want to save up for my studies, for which i need £10,000+ for. So, i dont want to mix up the money. i want to keep the £20,000 seperate.
does anyone have any tips.
thank you guys
Im after some tips on whats the best way to put some money away.
ive got £20,000 which i just want to put away until August 2010.
Ive saved this much away espicially to pay of my parent's endownment policy, which matures in 2010. The money, till now, was in an Internet Saving Account and i was told to take it out to put it into a better savings account.
but, i dont think it will be building very well, whereever i put it.
im aiming to reach £25,000 by 2010, which i think is possible if im careful in where i put it away.
i have spoken to an financial adviser at my local halifax branch. i was advised to put £10,000 away for 5 yrs which i dont touch for 5 yrs. an investment plan. the other £10,000 he has told me put in a small savings plan which matures every year. this allows me to access it, if there is an emergency.
he has told me that, since im saving my money in a mini ISA every month (£700 of my wages), i will be ok when the time comes to pay the mortage. i will have enough.
i do think this is good, but my gut feeling is that, there is a better plan which i will benefit more from.
Apart from this, I want to save up for my studies, for which i need £10,000+ for. So, i dont want to mix up the money. i want to keep the £20,000 seperate.
does anyone have any tips.
thank you guys
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