We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Savings account or Stocks & Shares ISA

Kateh001
Posts: 1 Newbie
Should I transfer my money from my Tesco online saver to Moneybox stocks and shares ISA?
For Tesco I got £6.76 interest for year with about £6000
For Moneybox I’ve currently got £5.32 interest for £105
I want the money available for summer holidays/ for emergencies and don’t want to put it in my LISA that I have. Any help or ideas would be greatly appreciated!
For Tesco I got £6.76 interest for year with about £6000
For Moneybox I’ve currently got £5.32 interest for £105
I want the money available for summer holidays/ for emergencies and don’t want to put it in my LISA that I have. Any help or ideas would be greatly appreciated!
0
Comments
-
For Moneybox I’ve currently got £5.32 interest for £10
Going forward they could increase further , or just as easily go down and you could well have less than you started with.
You can not make a straight comparison with a savings account where your money will never go down .For Tesco I got £6.76 interest for year with about £60000 -
S&S are not generally a good choice for short term savings or emergency funds. They are a long term (5+ years) investment vehicle.
The general advice is that you should not consider S&S until you have enough cash savings to cover all your short term / emergency requirements.0 -
Yes even balanced risk S&S investment is only suitable for money you will not need to access for at least 5 years to manage the risk you withdraw less than you contributed.0
-
Open a Nationwide flexdirect account & stick £2500 in @ 5%
Open a TSB current account & stick £1500 in @ 3%
Open a Marcus account & stick remaining £2000 in @ £1.5%0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards