What saving account?
Olly98
Posts: 2 Newbie
So I’m a student starting placement in July and plan to save a large majority of my pay during the 12 months.
However I’m unsure on the best way to save, my original plan was to open a Help to Buy ISA, however with the maximum monthly limit being £200 and looking at saving more than that on a monthly basis and so I’m unsure the best way to go about saving. Anyone got any advice?
Thanks
However I’m unsure on the best way to save, my original plan was to open a Help to Buy ISA, however with the maximum monthly limit being £200 and looking at saving more than that on a monthly basis and so I’m unsure the best way to go about saving. Anyone got any advice?
Thanks
0
Comments
-
If you're saving with a first-time property purchase in mind then a Lifetime ISA offers the same 25% government bonus but on a larger amount - a 12 month period starting in July would span two separate tax years and so you could pay £8K into it over that time.
You have to have a LISA open for 12 months before using it without penalty if that's relevant to your situation....0 -
Thanks.. I had looked at a LISA, however was under the impression that they money wasn!!!8217;t eligible for withdrawal within a certain term and would like the security knowing if I needed some of it I could withdraw an amount.. I shall look into this further thanks0
-
Thanks.. I had looked at a LISA, however was under the impression that they money wasn!!!8217;t eligible for withdrawal within a certain term and would like the security knowing if I needed some of it I could withdraw an amount.. I shall look into this further thanks
Plenty of other options are available if you're keen on easy access, see https://www.moneysavingexpert.com/savings/which-saving-account - you may find a blended approach works, whereby you put some of your money into a LISA and the rest into one or more regular savers and/or interest-paying current accounts....0
This discussion has been closed.
Categories
- All Categories
- 343K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.6K Spending & Discounts
- 235.1K Work, Benefits & Business
- 607.8K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards