Help with investing Any financial savvy folks?

I've got a little pot of money that i could invest, save or lock away. What's the best way or place to do it?
I want to start saving for a house for when i eventually get a job and can get a mortgage.

Dee
x

I'd go into a bank and ask. They'll be able to tell you. A lot will depend how much you have and whether you want to be able to access it. We have a low interest rate on our savings account as we like to be able to access the money and move it around all the time but ones where you pay a set amount in and don't touch it give you a better rate. Another option is an ISA because then your interest is tax free. I know you can only put a set amount in each year (although I don't think there's a limit on the amount you can open) but I don't know how much it is as we don't have one as we want all our money in joint accounts

Well the higher the risk the greater the return! I assume you don't want to put it in stocks and shares so really it's down to a bank to see what they can offer you.

I've already got money in stocks and shares so looking for another pot to put it in x

unfortunately banks aren't really offering much in the way of interset unless it's fixed for quite a long time ummmm there's lots of things you could invest in but most have minimum investments, we run a foreign exchange company through my work and based on historic performance the return is around 30% per year but it's a 10k minimum investments and it's not guaranteed you could lose it all.

I'd probably speak to an independant financial advisor.

Your best bet is probably an isa. The initial interest rate is much better than a normal saving account. The only thing is most interest rates are for the first year then it automatically reverts to 0.02% etc. you can always move it though and get the higher interest with a different bank.

Thanks ladies. I've been looking and unless your willing to put money away for 5yrs the interest is rubbish x