What too do with 15k?

Driving_Soon

Hey

I currently have £15,000 of Savings, after working full time for 2 years and having no life! :rotfl:

Anyway, I'm going back into education/training soon, and should be able to live on my training Allowance and part time Job, So i really want my savings to work for me as best as they can, but without any risk Involved!

I currently have £6.600 In a Barclays ISA, Which i guess is the best place for that to be!

But I also have over £8,000 in a " Easy Savings " Barclays account, At a intrest rate of around 2.97%

Are my savings in the best Place? or would they be better somewhere else?

Many thanks for any answers

[Deleted User]

I'd suggest the following:

1. If you ISA is the Barclays Tax Haven ISA 6.25% AER variable then this a pretty decent ISA so leave it where it is.

2. Split the the rest (depending on how often you'll need access to it) between the best instant access savings account you can find, and step 3 e.g.

Kaupthing Edge 6.50% AER, at least 0.30% (gross) higher than BoE rate until 01/02/2012. You need to have a minimum of £1000 in the account though to get this rate.

http://www.kaupthingedge.co.uk/OurPr...gsAccount.aspx

3. Short term fixed rate bonds, for example:

Icesave 7.01% AER, 1 Year Bond, min £1,000 deposit - meaning the money is tied up for 1 year in this bond but you're guaranteed 7.01%AER.

http://www.icesave.co.uk/fixed-rate-savings.html

4. Finally you may like to investigate Index-linked Savings Certificates:

http://www.nsandi.com/products/ilsc/index.jsp