2k to use wisely...

ALLI

ALLI

ALLI

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Lovely Wolver-ampton!
OK... I have an ISA which is currently full for this year.

I've got an 8% saver account which only allows me to place 250 in each month.

I have 2k that needs to be removed from my current account to prevent me buying a new PC ;)

So, where's the best place for my to plop this cash (seriously)?

The ony thing I can think of is to drop it into my ISA as soon as March is over. Not keen on stocks and shares as I feel that's too hit'n'miss. I'll not need the money in a rush, it's basically going towards a deposit on a house in a couple of years when I finish my training.

Something secure, but will reap maximum gain for me.

Can you have more than one ISA? Is it best to keep to one?


Thanks ppls.
 
Think you can put in £3600 in an isa in one year. So if you have topped it this year can't you just wait until end of March/April whenever it is and put it in then? Until then, buy some premium bonds - you never know!! :)
 
I wouldn't buy shares at the moment as the general opinion seems to be that the market is high at the moment, so there may be a drop and there almost certainly won't be any significant gains for a while.

That's just my opinion though, and I'm by no means an expert :)
 
yes you can have more than one ISA but you can only invest 3K total a year into mini cash ISAa.

If you want to stop yourself spending it you could just whang it into a high interest, notice account with no card access to stop you spending it.

HT
 
happytechie said:
yes you can have more than one ISA but you can only invest 3K total a year into mini cash ISAa.

If you want to stop yourself spending it you could just whang it into a high interest, notice account with no card access to stop you spending it.

HT
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I agree. Go for a 90 day notice account. You'll get a decnt rate of return with NO RISK. The last thing you want is to have to delay buying a house because of a dodgy investment.
 
Sorry - but I have to correct some of the quotes above before you go getting any hopes up...

From HM Revenue site :

"The amount you can invest in each tax year (6 April to 5 April ) is fixed. You can invest up to £3,000 in a cash ISA, and £4,000 in a stocks and shares ISA. "

& more importantly

"You cannot invest in more than one Mini cash ISA, or more than one Mini stocks and shares ISA in the same tax year"

Which basically means - there is no legal way of investing more than £3000 in cash in ANY one year yourself. You can of course open an ISA in relatives/GF/Wife name also - if you trust them enough and get the tax break that way. Just what I do....So me/wife invest £6000 per year, tax free (and get 5.4% int - a nice little earner once you get up to around £50,000 savings in the ISAs ;) )
 
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daz said:
Buy into metals.
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I can't argue with that as that's what I've been doing for the last 18 months, and would see a decent return if I sold out now (approx +30% on bullion, +10% on junior gold miners)

If you haven't got a mortgage (over pay that if you can), your safest route is waiting to see if there are any new ISA deals after 6th April.
 
ALLI said:
OK... I have an ISA which is currently full for this year.

I've got an 8% saver account which only allows me to place 250 in each month.

I have 2k that needs to be removed from my current account to prevent me buying a new PC ;)

So, where's the best place for my to plop this cash (seriously)?

The ony thing I can think of is to drop it into my ISA as soon as March is over. Not keen on stocks and shares as I feel that's too hit'n'miss. I'll not need the money in a rush, it's basically going towards a deposit on a house in a couple of years when I finish my training.

Something secure, but will reap maximum gain for me.

Can you have more than one ISA? Is it best to keep to one?


Thanks ppls.
Click to expand...

open an ING account.
 
-Mighty-Mick- said:
£2000 pound coins - an empty room - roll around!!
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Ouch, that would hurt. Better yet convert into dollar bills and then you have a nice swim.

I never understood how Uncle Scrooge in Ducktails could swim through gold coins :confused:
 
Clever gambling? Arbitrage betting and/or matched betting and/or lay betting all much of a muchness, it requires a large lump sum to pull it off properly, can return 5-15% on initial investment sometimes, and its tax free :D. Just have to be careful but its also a bit of a thrill. Have a read up on it either way. I'm saving up presently, using ICICI Hi-Save savings account (5.15% interest), once i've got about 1k in there i'm going to start drawing money in and out arbitrage betting (i'd use an ISA but money has to be moved in and out which isnt suitable for an ISA).
 
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