Saving for the important things in life
Everyone needs to have some money put away for emergencies, and for the bigger, more exciting things in life like the deposit on a home, a child’s education or a family wedding. So, for most of us having some cash that we can access quickly to pay for unexpected things like an unforeseen bill, and some that steadily builds up for the future, makes good financial sense.
Saving usually means putting your money into cash products such as a bank or building society account.
How ISAs can help
There are hundreds of different accounts on offer from banks, building societies and investment companies. So how do you make your choice? For many people, taking out an ISA (Individual Savings Account) can be a good place to begin.
An ISA is a simple, tax-free way to save or invest. The advantage of these types of account is that you don’t pay tax on the interest you earn, or the increase in value of your investments. There are now several different types of ISA available, designed by the government to encourage everyone to save or invest for their future.
What types of ISA are there?
The basic types are:
The right savings strategy for you will depend on your personal circumstances. We can advise you on the best ISA for your short and longer-term savings, and explain the features and benefits of each type of account in a simple and straightforward way.