After all, we all have dreams we want to fulfil and goals we want to reach, and having money saved can help them become a reality. 

For most of us, having some cash that we can access quickly, to pay for unexpected things like an unforeseen bill, and some put away that steadily builds up for the future, makes good financial sense. 

Whether it’s locking away your money in exchange for a fixed interest rate, saving when you can and accessing your money when you need it, or making the most of tax-free interest, there are lots of ways to save. 

One of the safest ways to accumulate cash is to put it into a deposit account, and bank and building society accounts are the first port of call for many when they start saving. 

The right savings strategy for you will depend on your personal circumstances. We can advise you on the most suitable home for your short and longer-term savings. We can also explain the benefits of government-backed accounts like Individual Savings Accounts (ISAs) that help you save and offer tax-efficient savings.  

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 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 on any increase in the value of your investments. There are now several different types of ISA available, designed by the government to encourage everyone to save for their future. 

What types of ISA are there? 

The basic types are: 

  • Cash ISAs 
  • Stocks and shares ISAs  
  • Junior ISAs  
  • Innovative Finance ISAs 
  • Lifetime ISAs for those saving to buy a home or who wish to save until age 60. 

Getting the savings habit can make a real difference to your future wealth, so why not get in touch for some good advice? 

The value of investments and the income from them may go down. you may not get back the original amount invested.