Where to save £400-500 a month

friolento

pw007 said:

My current account is already with Barclays so could I just open a first direct account?

Sure you can. You'd just forego a £175 switch bonus

infj

Personally I wouldn't put it all in a cash ISA, but you could split it and start investing in a stocks and shares ISA - say £100 per month into one. You just register with a cheap online broker such as Interactive Investor, set up an ISA account and just drip feed £100 each month into a world index tracker such as Vanguard’s Global All Cap index fund (other options are available). Then you just ignore it and all the shares "news" cobblers for at least 5 years.
Also consider your personality - as the quote says - "funds can go up and down". If you are someone who would panic if you had put a £1000 in to the tracker, there's a big shares crash and it's now £500. And you would then withdraw the money in shock - then avoid the stock market. But if you are someone who can shrug and just say "it'll come back again" (and all the statistics and history say it will), then have a go.
It sounds complicated but honestly it isn't.
I've been doing this for 25 years and my only regret is that I didn't start sooner!!

ThePirates

 You just register with a cheap online broker such as Interactive Investor, set up an ISA account and just drip feed £100 each month into a world index tracker such as Vanguard’s Global All Cap index 

Is this the cheapest way to get into this fund?

Albermarle

pw007 said:

My current account is already with Barclays so could I just open a first direct account?

What stock and share isa would you reccomend? 

Some ISA providers only offer a limited number of investments, whilst others offer a large range. Some have different fee structures. However always be clear that a  S&S Isa is somewhere to hold investments . So which investments you pick is much more important than which ISA provider you use.

How to invest in a stocks and shares Isa: The quick and easy guide | This is Money

eskbanker

ThePirates said:

 You just register with a cheap online broker such as Interactive Investor, set up an ISA account and just drip feed £100 each month into a world index tracker such as Vanguard’s Global All Cap index 

Is this the cheapest way to get into this fund?

Not for £100 a month, no - using Vanguard's own platform will be substantially cheaper than one with a fixed monthly charge of £4.99, and other platforms will also charge less than II for this sort of profile.

pw007

infj said:

Personally I wouldn't put it all in a cash ISA, but you could split it and start investing in a stocks and shares ISA - say £100 per month into one. You just register with a cheap online broker such as Interactive Investor, set up an ISA account and just drip feed £100 each month into a world index tracker such as Vanguard’s Global All Cap index fund (other options are available). Then you just ignore it and all the shares "news" cobblers for at least 5 years.
Also consider your personality - as the quote says - "funds can go up and down". If you are someone who would panic if you had put a £1000 in to the tracker, there's a big shares crash and it's now £500. And you would then withdraw the money in shock - then avoid the stock market. But if you are someone who can shrug and just say "it'll come back again" (and all the statistics and history say it will), then have a go.
It sounds complicated but honestly it isn't.
I've been doing this for 25 years and my only regret is that I didn't start sooner!!

I was kind of thinking of putting 200/250 into a Barclays saver and the other 200/250 into an isa. I will look into the stocks and shares isa and maybe put 100 into that and the rest into a regular saver