We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
What to do with my money?
joshl
Posts: 2 Newbie
Hi all.
I hope I’m posting this in the correct area. First timer...
I’m currently 27, living at home with parents and will be looking to buy an apartment or house in the next couple of years.
I have a LISA which has been open for more than 12 months. My first question is; if I put £4,000 in that account tomorrow, would I get the 25% (£1,000) allowance at the end of the month? Or would it go in after a year?
Secondly, I’m looking to save, but with easy access to my account. I currently have a flexi saver but the interest is garbage. I have a decent amount of money (under 10k atm) to transfer into an easy access saver or a ISA, which would you recommend? Or would it be the case of just choosing one with the best interest? Should I put all my savings in the same account? If so, could you point me in the best direction. Currently banking with HSBC and Monzo current accounts.
Thanks for your help!
I hope I’m posting this in the correct area. First timer...
I’m currently 27, living at home with parents and will be looking to buy an apartment or house in the next couple of years.
I have a LISA which has been open for more than 12 months. My first question is; if I put £4,000 in that account tomorrow, would I get the 25% (£1,000) allowance at the end of the month? Or would it go in after a year?
Secondly, I’m looking to save, but with easy access to my account. I currently have a flexi saver but the interest is garbage. I have a decent amount of money (under 10k atm) to transfer into an easy access saver or a ISA, which would you recommend? Or would it be the case of just choosing one with the best interest? Should I put all my savings in the same account? If so, could you point me in the best direction. Currently banking with HSBC and Monzo current accounts.
Thanks for your help!
0
Comments
-
The LISA details are here:
https://www.moneysavingexpert.com/savings/lifetime-isas/#tip2
Top Easy access savings @ 1.45% is here:
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#marcus0 -
Neither, it would be added around the end of January - LISA bonuses work on claim periods from the 6th of one month to the 5th of the next, after which it's about 28 days.I have a LISA which has been open for more than 12 months. My first question is; if I put £4,000 in that account tomorrow, would I get the 25% (£1,000) allowance at the end of the month? Or would it go in after a year?
Most on here would choose accounts paying the best interest, but if something else is important to you then you may wish to do something different - some prefer branch-based accounts for example. Anyway, read these MSE articles and take your pick:Secondly, I’m looking to save, but with easy access to my account. I currently have a flexi saver but the interest is garbage. I have a decent amount of money (under 10k atm) to transfer into an easy access saver or a ISA, which would you recommend? Or would it be the case of just choosing one with the best interest? Should I put all my savings in the same account? If so, could you point me in the best direction. Currently banking with HSBC and Monzo current accounts.
https://www.moneysavingexpert.com/savings/which-saving-account/
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/0 -
Thanks for your help.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards