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Thread: ...money saving advice?

  1. #1
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    Default ...money saving advice?

    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
    Last edited by Biscuit; 04.01.2012 at 07:53 PM.
    a capillary hint of red

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    Spend it. You could get run over by a Bus tomorrow
    alan alan alan alan steve steve steve steve

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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
    I'm Only Old On The Outside

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    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
    the meaning of life, its about finding the silver lining in every situation

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    Premium Bonds

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    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)

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    Quote Originally Posted by rendo View Post
    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)
    Till your house burns down !!.
    Me i,m all smiles, i,ve got my crocodiles....

  9. #9
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    Quote Originally Posted by rendo View Post
    safe bet is stick it under the bed. (not as daft as it sounds)
    worst place to put it, post #5 & #6 much safer

  10. #10
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    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!

    a capillary hint of red

  11. #11
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    Other alternative is to pay off any loans, cards or a bit of mortgage?

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    Quote Originally Posted by Steve748 View Post
    worst place to put it, post #5 & #6 much safer
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    the meaning of life, its about finding the silver lining in every situation

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    Don't buy a Ducati!

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    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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    Quote Originally Posted by Gizmo View Post
    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.
    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
    the meaning of life, its about finding the silver lining in every situation

  16. #16
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    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
    a capillary hint of red

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    Quote Originally Posted by Biscuitandpotato View Post
    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
    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.
    Never argue with an idiot..onlookers may not be able to tell the difference.

  18. The Following User Says Thank You to 239desmo For This Useful Post:


  19. #18
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    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.
    The two most common elements in the universe are hydrogen and stupidity.

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    Default 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

  21. #20
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    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.

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