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best place to put my money from work Watch

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    im earning around 1k per month part time and just wondering the best place to put it. gonna be going to uni after college.

    i already have a alliance and lecister and barclays accounts. just wondering where the best place is to get interest? etc. i have around 5k saved up myself, i've also got 10k when i turn 18 which is in stocks.

    any help appreciated. gonna have a look myself now
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    Lloyds has a Classic Vantage account where they'll pay you several percent on balance below 7k if you transfer in 1k per month. Hence to get the relatively high interest (considering it's call money) you just need to transfer over 1k out to some other account and then back once per month.
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    There are so many threads on this, someone posts at least one of these questions ever day.

    If you're earning 1K a month, don't you have expenditures?

    Best place for that amount is some form of ISA, unless you want to add to your stock portfolio.
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    (Original post by Jmzie-Coupe)
    There are so many threads on this, someone posts at least one of these questions ever day.

    If you're earning 1K a month, don't you have expenditures?

    Best place for that amount is some form of ISA, unless you want to add to your stock portfolio.
    i don't really have many outgoings. i have a £10 phone contract, some money towards going out. i also get ema on top of working.

    isa isnt the best cause there is a limit of 2,5 or 5,2 i can't remember how much. also its not my stocks. my dad controls them i've got no idea how they work.
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    (Original post by iholdthem)
    i don't really have many outgoings. i have a £10 phone contract, some money towards going out. i also get ema on top of working.

    isa isnt the best cause there is a limit of 2,5 or 5,2 i can't remember how much. also its not my stocks. my dad controls them i've got no idea how they work.
    Why ask then? You're not old enough to buy stocks/shares. Cash ISA limit is 5,2 yes, but is best for your situation as you can put 5K in the ISA and keep the remainder in a normal savings account meaning you won't pay as much tax.
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    Look around different banks and what they offer and see what is best for you.
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    An ISA to start with then maybe a Jupiter PEP with a focus on the east as the east will o well this year. Ask an independent advisor as you might have to fill in a tax return.
    Very impressed you are earning and saving at your age. Well done.
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    how do you earn 1k a month plus higher education to earn EMA?
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    (Original post by mummyperson)
    An ISA to start with then maybe a Jupiter PEP with a focus on the east as the east will o well this year. Ask an independent advisor as you might have to fill in a tax return.
    Very impressed you are earning and saving at your age. Well done.
    i've already got the tax/ni situation sorted, but thanks

    (Original post by Phillipsherman)
    how do you earn 1k a month plus higher education to earn EMA?
    i actually earn more than 1k but that's all that i earn from working. i get money from other ventures but i rarely put that into the bank account. i am web desinger/developer and got a lucky job i guess i get ema because my dads not working, it's based on parents income and not mine. although i disagree with ema if im entitled to it then i may as well get it
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    (Original post by Jmzie-Coupe)
    Why ask then? You're not old enough to buy stocks/shares. Cash ISA limit is 5,2 yes, but is best for your situation as you can put 5K in the ISA and keep the remainder in a normal savings account meaning you won't pay as much tax.
    Cash ISA limit is £5100 :P

    I'd still go for an ISA. When you're older earning more money more than £12k/year, you'll be thankful you did.
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    (Original post by stanmoor)
    Cash ISA limit is £5100 :P

    I'd still go for an ISA. When you're older earning more money more than £12k/year, you'll be thankful you did.
    OK. Thanks for clarification.
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    ING Direct - Cash ISA. Highest interest you'll find. Although you may have to open more than one as the limit is £5,100 for each.
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    (Original post by iholdthem)
    i actually earn more than 1k but that's all that i earn from working. i get money from other ventures but i rarely put that into the bank account. i am web desinger/developer and got a lucky job i guess
    Should get me a job too. -_-
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    (Original post by rylit91)
    ING Direct - Cash ISA. Highest interest you'll find. Although you may have to open more than one as the limit is £5,100 for each.
    That's a good rate, but Halifax do the same if you already bank with them. And you can only open one ISA per tax year.
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    (Original post by stanmoor)
    That's a good rate, but Halifax do the same if you already bank with them. And you can only open one ISA per tax year.
    Oh, I thought that only went for one ISA per provider. To the OP, the Post Office do good rates as do, as stanmoor said, high street bank savings accounts.
 
 
 
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