I am a student. What should I do with my £3,500 ???

mazdaspring

Hi all
I am a newbie in investment. I am a student and I have money about £3,500 (from my pocket money and part-time job over the past) which I wont be using them within 4 years.
What should I do with this much of money to make most profits in 4 years time. Should I just open saving account and keep these money in to gain some interests? (Now I only have student account)


Please suggest me which is the best way to do with my money. Thank you so much.

prudentsaving42

Click the BANKING/SAVINGS orange button at the top of this page. Then read up about ISA's.

Aegis

ISAs may or may not be the best savings option for a student. If he's planning on spending some or all of this by the end of his time, or even if he's planning not to have significantly more cash to save away, a combination of non-ISA fixed-term deposits and instant access accounts may be more suitable. When the fixed rates mature, the proceeds can be dropped into an ISA the year before the OP starts earning enough to put him into the basic rate category.

If you decide to go down this route, make sure you obtain form R85 from your banks and register for gross interest, assuming you earn less than about £6000 per year.

notis7

One word that becomes 3 - ISA!!!!!!!!!!!!!!!!!!!!!!!!

tax free - great return and - protected

Banderman

Sex, drugs and rock n' roll of course!

[Deleted User]

I'd open a Kaputhing Edge 3 year fixed term savings account at 6.5-something-%. Register for tax free interest. Or if you're really looking long term, put it the best ISA you can find as when you start working you won't get tax-free interest any more.

mazdaspring

So ISA is the best?