...money saving advice?

Biscuit

Biscuit

andpotato
In the middle of sorting out my finances, I want to start putting some money away for...well somewhere to make some money really. ISA's, saving accounts, TESSA's, it's all greek to me. I wanna fling say £50 a month into a account that i can forget about, don't mind start up deposit etc. Been reading about cash ISA's etc but my brain is now hurting. Can anyone offer any helpful advise in simple speak?


TIA
 
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if you are prepared to save for a minimum of 5 years and happy to accept some risk, put it into a stocks and shares isa
 
yeh go for the bank shares, cause they aint going much lower and will start to pick up then shortly after the government sells their shares prices will shoot up even further 7-10 years is my guess
 
erm, i'd maybe stay away from shares for a few months, i expect the stockmarket to drop like it did last year. safe bet is stick it under the bed. (not as daft as it sounds)
 
I've always had a few premium bonds, but they ain't what they used to be, as far as the draw goes any, but it is the safest way to stash money without losing it, cheers guys, i'll buy some more bonds. I like the fact I can get me money out of nsandi in 8 days too!

:thumbs:
 
stocks and shares isa, tax free and as its a regular premium if you are lucky the markets will stay low or crash so you buy more units, folk often get confused with the differences between lump sum buys and regular monthly investments, using regular payments limits the risk asscociated with spot buys and if you don't have a definite date to take and are flexible as to when you do want it out this strategy will usually beat almost anything else.
 
Gizmo said:
stocks and shares isa, tax free and as its a regular premium if you are lucky the markets will stay low or crash so you buy more units, folk often get confused with the differences between lump sum buys and regular monthly investments, using regular payments limits the risk asscociated with spot buys and if you don't have a definite date to take and are flexible as to when you do want it out this strategy will usually beat almost anything else.
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see steve, gizmo is an intelligent man and said the same as me only in a sensible, intelligent way. and you can impress your mates with your shares portfolio:eek:
 
Ive got an appointment with my bank manager next week, they do share based Isa's and stuff, will have a good natter about it then, cheers folks
 
Biscuitandpotato said:
Ive got an appointment with my bank manager next week, they do share based Isa's and stuff, will have a good natter about it then, cheers folks
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Steve, ideally you want independent advice on this and it is likely the bank may be tied to one provider which may or may not be the best for you.
An independent adviser can cover the whole market rather than one company but the problem these days is getting an independent adviser to talk to you due to the costs of compliance etc means a lot are working on a fee basis and you may feel the fee doesn't justify what you are prepared to put aside each month.
Ask upfront if they are independent or tied although they should make it clear before you start talking about anything.
 
I'm less convinced that ISAs are a good way to get a decent return these days.
I withdrew £2500 from an ISA last week and was told I'd lose the interest for that month......41p.:rolleyes:
 
Beware

I am an ex Bank Manager from HSBC, got out a year ago!! Be careful of long term at present, who knows what the stock market will do? I would suggest looking in the sunday paper for the best rates, so long as you are investing less than £30k your money is safe. chelsea and skipton are doing good rates poss scarbora go small and enjoy the return and by the way i will have the sliders off you, will recompense postage:lol2:
 
I will share economical formula with you and that is cut down your expenses and save the money.When you will have money then invest that money in business and generate more money.
 
Try and get rid of any debt you have first - it's going to be a long painful year from an economic perspective
 
Put it in a shoebox under the bed. My dad worked in finance all his days and was very prudent and informed.
He'd constantly get on to me and my brother about investing for the future blah blah blah......
Due to the state of pretty much everything he has lost all investments, bonds were useless and shares were worth a fraction of that paid in.
But hey thats life and i'm not bitter that my inheritance has dissapeared :mad:

Ally
 
If you had purchased £1000 of RBS shares five years ago, it would now be worth £4.95.

With HBOS, your £1000 would have been worth £16.50.

£1000 invested in XL Leisure would now be worth less than £5.

But if you bought £1000 worth of Tennents Lager, drank it all, then took the empty cans to an aluminium recycling plant, you would get £214.

Based on the above, the best current investment advice is to drink heavily and recycle.
 
monster_998 said:
If you had purchased £1000 of RBS shares five years ago, it would now be worth £4.95.

With HBOS, your £1000 would have been worth £16.50.

£1000 invested in XL Leisure would now be worth less than £5.

But if you bought £1000 worth of Tennents Lager, drank it all, then took the empty cans to an aluminium recycling plant, you would get £214.

Based on the above, the best current investment advice is to drink heavily and recycle.
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Based on the above, buy shares in RBS, HBOS and XL Leisure and if you are patient, you will make money when the markets recover!
 
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