Short term savings plan

financial planning with isa cash isa and investments

There are plenty of options available if you want to put away some money and start saving. When you consider retirement, your children’s university fee’s these may seem like a long way off, don’t consider it a long term savings goal consider the benefit of a short term plan. Setting a side a couple of months salary is a wise thing to do in any climate, consider it the emergency fund, fixing the boiler, fixing the car, placing those bills on the ever present credit card bill means your paying the extra interest on the bill, as well as the bill for the repair itself.
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Cash ISA, Savings and Shares ISA explained

financial planning with isa cash isa and investmentsA Cash ISA or Cash Individual Saving Account to give its full title is similar to a normal savings account in that you can take cash out whenever you wish. The difference is the interest is not taxed. The tax man in 2012 got an extra £500 million in tax because people did not make full use of their cash ISA allowance. So you need to consider how wisely you are saving and setting aside your money.

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