What do people do with their savings that aren’t big amounts (talking less than 10k)? Do you keep it in an ISA? Do you invest in other things?
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I keep mine in premium bonds, though I’m yet to win anything
Depends what they're savings for. Emergency fund - premium bonds.
Longer term savings not for a specific thing -Trading 212 investment account.
Savings for nieces and nephew - Marcus account.
Stocks and Shares ISA for larger savings - with the aim being that they will help pay off the mortgage one day.
Longer term savings not for a specific thing -Trading 212 investment account.
Savings for nieces and nephew - Marcus account.
Stocks and Shares ISA for larger savings - with the aim being that they will help pay off the mortgage one day.
My emergency fund (I.e. the money I have saved in case anything major happens) is currently at just over 10k and it’s in premium bonds. At least it’s relatively safe there and there’s always a chance you could win big - I ‘earned’ about £100 on it last year which is more than what it would’ve got in interest in a savings account
Isn’t it bonkers how we never get taught any of this? I’ve always been a saver. May not have much in savings at the moment but I’m trying to rebuild them after buying a house when bigger deposits were needed then renovating. I would definitely like a way to make it grow better.
I would also love to know more about this