Anyone putting more money into their ISA?

Kitchster_uk said:
ISA's - The simple guide.

Right, you have a tax-free savings allowance each year of £7k. Keeping it simple, it should be spread like this: £3k cash, £3k stocks & shares (investment) and £1k of life plan. You can trade the £1k of life plan into your stocks and shares though. Maxi ISA's are slightly more complex so we'll leave those for now.

Mini Cash Isa: £3k limit per tax year. THis is the first port of call you should have for 'cash' savings. It's instant access, decent interest and Mr Brown can't tax the intrest. No upper limit on how much you can have in one either and they are safe.

Stocks & Shares Mini ISA. £4k limit for all intents and purposes per tax year. You should be prepared to leave these for upto 5 years really, if you want decent retuns. The money can be put into different types of investments, from the safe and suer 'corporate bonds' right through to Japanese growth funds where results will vary widely.

In all financial plaaning, you should consider your own attitude to risk and have a balanced fun: some cash, some low risk, some medium and a bit of high risk to add the cherry on the top.

Hope that's useful.
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Kitchster_uk (et al.) - dont fancy commenting on a thread Ive got up about Maxi ISAs - looking to start one with Legal and General (via A+L) before the tax year is up. Should really have done this ages ago, but Im not that clued up with finances :p

http://forums.overclockers.co.uk/showthread.php?t=17556085

Cheers

ps3ud0 :cool:
 
Thats me just topped my ISA upto the max of 3k via my online setup. So i take it over the years this account just tops up and up ?
 
Whats the difference between an ISA and a normal savings account?, i use a direct saver internet account at the moment would i benefit from opening an isa?.

Mark
 
An ISA earns tax free interest where as a normal savings account you would pay tax on the interest earned. ISAs are limited to £3000 being added to them each financial year.
 
Gilly said:
I have a regular payment into mine :)
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Ditto

Not much in it this year as I had to suspend payments when we first bought our house and moved.

Started the payments up again December time, unfortunatly I don't have much spare cash so even if I had been saving the whole year, I still wouldn't have any hope of hitting the £3k limit :(
 
I'll sling £3k into mine I think.

I need more ways of saving my money though, anyone got any good ways? Risk free would be nice, but I'll take a bit of a gamble.
 
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