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    (Original post by Quady)
    Thats the Halifax ISA.

    You can't be looking hard though, Nat West has an instant access non ISA account at 1%...

    http://www.natwest.com/personal/savi...e-savings.ashx
    I don't even live in the UK! We don't have ISAs. I was talking about convential bank accounts..
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    (Original post by Flying Scotsman)
    I don't even live in the UK! We don't have ISAs. I was talking about convential bank accounts..
    That one is a conventional bank account at the bank you nominated...
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    (Original post by Quady)
    That one is a conventional bank account at the bank you nominated...
    Interesting, I haven't seen this before. There must be a catch though, as the 30 day bonus reward reserve account only has 0.75%. :confused:

    I found the catch: I don't think you can open unless you are in the UK? I am offshore, and I have internet banking on another website to that one.. I can't log in there to my account!
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    (Original post by anonguy123)
    Hey

    A bit about me, my parents don't work and are on income support. I get EMA, and free lunchs. I am in the first year of a school Sixth form, looking to do a computer science degree at Southampton or Cambridge.

    Anyway I'll cut to the chase, I have recently learnt that in a few months time I will be inheriting almost £30 thousand pounds. And to be honest I have not been myself recently. I wouldn't say I am struggling to cope, but it is worrying me. I don't know what to do with it?

    Do I save it? Or spend some of it? I don't want to just waste it, as this is a once is a live time opportunity, my family and me have never know so much money. I don't know whether to buy anything for my family, to help out, or what? I mean if I saved it when would I use it, I mean when I get my degree I will hopefully get a job straight away, so I really don't know how best to help my life.

    And it has been in trust until i turn 18 in a few months, and my aunt died about 4 years ago, so I am struggling to think what she feels would have been the best for the money.

    I am sorry for the long post but I could really do with some advice, I don't know what to do. And sorry if this sounds a bit stupid.

    Thanks very much for reading and any for replys,
    If in doubt, save it. If you spend it quickly, it won't be there when you need it. On the other hand, if you save it in a fund or a bank account, you can get it whenever you happen to need it. Take out a student loan as normal, then if you happen to need a car/to pay off your loan early/to help out a family member or whatever, it will be sitting there waiting (hopefully having grown a bit).
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    (Original post by Blue_XD)
    Use it to pay for university? Stick it in the bank and earn loads of interest?
    Ahaha, i think i'm on 0.01% at the mo :P
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    I've only read the first page but IMO..

    Don't use it to pay for Uni. It's already affordable with loans etc and to be honest it would be a waste of £30k as the 'debt' won't ever really affect you..

    I'd say save it.. as hard as it might be, just put it away.. I think there are savings accounts where you earn a lot of interest but you can't dip into it for a few years? That's what I'd recommend, you'll be among thousands that graduate owning huge amounts of money but that won't disadvantage you..

    Lock it away, forget about it, earn interest, graduate then put it towards a house deposit and/or car / holiday. Those are things you'll be wanting in ~5 years time.
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    The problem with an ISA is that you won't be able to put it all in at once. However, I would get one open and put as much as you can in each year, while having the rest in just a normal savings account.

    If you're eligable for the full loan and grants, then I would take them. It's the best loan you will EVER get, so it seems silly to let it pass you by when you might need another loan in years to come.
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    (Original post by stroppyninja)
    Ahaha, i think i'm on 0.01% at the mo :P
    Any reason you decided to announce you're a dumb ass?
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    (Original post by Flying Scotsman)
    Interesting, I haven't seen this before. There must be a catch though, as the 30 day bonus reward reserve account only has 0.75%. :confused:

    I found the catch: I don't think you can open unless you are in the UK? I am offshore, and I have internet banking on another website to that one.. I can't log in there to my account!
    Hardly a catch when on a UK based forum.
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    You can put your 30k into ISAs over 2 years with your mum and dads help.

    "lend" 5k to your mum which she happens to put into an ISA
    "lend" 5k to your dad which he happens to put into an ISA
    put 5k into your ISA (oh look, the family is saving their re-distributed inheritance)

    thats 15k in an ISA this year
    and then again next year....

    If you're a confident/smart boy, look at investment opportunities and business models... otherwise play it safe and go the ISA route
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    (Original post by anonguy123)
    Hey

    A bit about me, my parents don't work and are on income support. I get EMA, and free lunchs. I am in the first year of a school Sixth form, looking to do a computer science degree at Southampton or Cambridge.

    Anyway I'll cut to the chase, I have recently learnt that in a few months time I will be inheriting almost £30 thousand pounds. And to be honest I have not been myself recently. I wouldn't say I am struggling to cope, but it is worrying me. I don't know what to do with it?

    Do I save it? Or spend some of it? I don't want to just waste it, as this is a once is a live time opportunity, my family and me have never know so much money. I don't know whether to buy anything for my family, to help out, or what? I mean if I saved it when would I use it, I mean when I get my degree I will hopefully get a job straight away, so I really don't know how best to help my life.

    And it has been in trust until i turn 18 in a few months, and my aunt died about 4 years ago, so I am struggling to think what she feels would have been the best for the money.

    I am sorry for the long post but I could really do with some advice, I don't know what to do. And sorry if this sounds a bit stupid.

    Thanks very much for reading and any for replys,
    Please, please, please lock it in a high interest account until after your studies. Take your loans for Uni, if you change your mind your later you can always use the inheritance to pay them back. As for travel, a lot of unis have grants and things for this and travelling as a student is meant to be cheapy cheap so I wouldn't waste it on this either.

    When you graduate there will be a lot of things you might want to do and having a 30k bumper will help you a lot. You might want to take an MBA, buy a house or invest - so don't let it burn a hole in your pocket, you will regret it if you spend it now.
 
 
 
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