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Savings accounts, ISA's??
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edufly
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#1
Does anyone here have an ISA or an alternative savings accounts. If so could you tell me about your one and give any other info on them??
Cheers
Cheers
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Joey_Johns
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#2
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#2
(Original post by eddiedaboss)
Does anyone here have an ISA or an alternative savings accounts. If so could you tell me about your one and give any other info on them??
Cheers
Does anyone here have an ISA or an alternative savings accounts. If so could you tell me about your one and give any other info on them??
Cheers
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Perplexed
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#3
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#3
(Original post by eddiedaboss)
Does anyone here have an ISA or an alternative savings accounts. If so could you tell me about your one and give any other info on them??
Cheers
Does anyone here have an ISA or an alternative savings accounts. If so could you tell me about your one and give any other info on them??
Cheers
They’re fairly difficult to withdraw cash from etc. More suited to medium to long-term.
This was about three years ago though, so don't take that as fact.
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Blamps
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#4
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#4
(Original post by eddiedaboss)
Does anyone here have an ISA or an alternative savings accounts. If so could you tell me about your one and give any other info on them??
Cheers
Does anyone here have an ISA or an alternative savings accounts. If so could you tell me about your one and give any other info on them??
Cheers
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Blamps
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#5
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#5
(Original post by Joey_Johns)
Waste of time. Get yourself into spread betting or low risk gambling.
Waste of time. Get yourself into spread betting or low risk gambling.
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Joey_Johns
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#6
(Original post by Blamps)
an ISA basically is a long term investment whereby a bank/building society buys stocks or shares with your money, guaranteeing a ceratin amount of return...a Tessa is like a long term savings account with a fixed interest rate (which is not that favourable at the mo, but maybe higher in coming years)
an ISA basically is a long term investment whereby a bank/building society buys stocks or shares with your money, guaranteeing a ceratin amount of return...a Tessa is like a long term savings account with a fixed interest rate (which is not that favourable at the mo, but maybe higher in coming years)
I bet on Chelsea to beat Boro at 1/10 and Celtic to beat some shithouse team at 1/9. I made over £200 in one day. For the same investment in an ISA over a year I would have made about £60.
My dad bets on commodity prices like metals and currencies.
Basically with an ISA you are paying somone to invest in stocks and shares for you and make money. Why do that when you can cut out the middle man and take all the profit.
And people wonder why they dont have any money.
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Joey_Johns
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#7
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#7
(Original post by Blamps)
Gambling is a bad form of logic that is too addictive
Gambling is a bad form of logic that is too addictive
In other words, keep your money in a piggy bank.
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Blamps
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#8
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#8
(Original post by Joey_Johns)
Bank accounts are useless.
I bet on Chelsea to beat Boro at 1/10 and Celtic to beat some shithouse team at 1/9. I made over £200 in one day. For the same investment in an ISA over a year I would have made about £60.
My dad bets on commodity prices like metals and currencies.
Basically with an ISA you are paying somone to invest in stocks and shares for you and make money. Why do that when you can cut out the middle man and take all the profit.
And people wonder why they dont have any money.
Bank accounts are useless.
I bet on Chelsea to beat Boro at 1/10 and Celtic to beat some shithouse team at 1/9. I made over £200 in one day. For the same investment in an ISA over a year I would have made about £60.
My dad bets on commodity prices like metals and currencies.
Basically with an ISA you are paying somone to invest in stocks and shares for you and make money. Why do that when you can cut out the middle man and take all the profit.
And people wonder why they dont have any money.
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Blamps
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#9
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#9
(Original post by Joey_Johns)
Ok, so what are stock brokers? Professional gamblers, nothing more nothing less.
In other words, keep your money in a piggy bank.
Ok, so what are stock brokers? Professional gamblers, nothing more nothing less.
In other words, keep your money in a piggy bank.
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Muse
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#10
Joey_Johns
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#11
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#11
(Original post by Blamps)
For the most part, you are much more likely to make some money in the longer term by saving rather than gambling
For the most part, you are much more likely to make some money in the longer term by saving rather than gambling
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PQ
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#12
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#12
(Original post by Blamps)
an ISA basically is a long term investment whereby a bank/building society buys stocks or shares with your money, guaranteeing a ceratin amount of return...a Tessa is like a long term savings account with a fixed interest rate (which is not that favourable at the mo, but maybe higher in coming years)
an ISA basically is a long term investment whereby a bank/building society buys stocks or shares with your money, guaranteeing a ceratin amount of return...a Tessa is like a long term savings account with a fixed interest rate (which is not that favourable at the mo, but maybe higher in coming years)
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Joey_Johns
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#13
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#13
(Original post by timeofyourlife)
I *think* you need to be 18 to have an ISA
I *think* you need to be 18 to have an ISA
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Blamps
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#14
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#14
(Original post by Pencil Queen)
There are no such things as Tessa's anymore - there are cash ISAs (zero tax, high interest rate savings accounts sometimes with a minimum withdrawal time and sometimes not), stock/share ISAs (like the old PEPs) and the thing you describe as a TESSA sounds more like a Unit Trust.
There are no such things as Tessa's anymore - there are cash ISAs (zero tax, high interest rate savings accounts sometimes with a minimum withdrawal time and sometimes not), stock/share ISAs (like the old PEPs) and the thing you describe as a TESSA sounds more like a Unit Trust.
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Sza
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#15
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#15
It is actually worth opening an ISA account at 16. Put in £3000 every year from 16, when your 18 you'll have £9000 in tax free - plenty of interest.
But for some reason i've got a feelin its been reduced to £1000 max for every tax year - (b1tch!).
ISA superseeded TESSA - but they are still in practise right now for existing account holders, now you just can't open up a new TESSA account.
But for some reason i've got a feelin its been reduced to £1000 max for every tax year - (b1tch!).
ISA superseeded TESSA - but they are still in practise right now for existing account holders, now you just can't open up a new TESSA account.
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Joey_Johns
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#16
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#16
(Original post by Blamps)
Whatever....I thought Tessas were still going (its not like I have looked it up much0
Whatever....I thought Tessas were still going (its not like I have looked it up much0
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Joey_Johns
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#17
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#17
(Original post by Sza)
It is actually worth opening an ISA account at 16. Put in £3000 every year from 16, when your 18 you'll have £9000 in tax free - plenty of interest.
But for some reason i've got a feelin its been reduced to £1000 max for every tax year - (b1tch!).
It is actually worth opening an ISA account at 16. Put in £3000 every year from 16, when your 18 you'll have £9000 in tax free - plenty of interest.
But for some reason i've got a feelin its been reduced to £1000 max for every tax year - (b1tch!).
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Muse
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#18
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#18
(Original post by Joey_Johns)
No its 16.
No its 16.
It is for Barclays anyway.
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Joey_Johns
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#19
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#19
(Original post by timeofyourlife)
I was pretty sure it was 18, as it is a government investment
It is for Barclays anyway.
I was pretty sure it was 18, as it is a government investment
It is for Barclays anyway.
Barclays is a very poor quality bank.
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Muse
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#20
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#20
(Original post by Joey_Johns)
I know you can because I have one. I got it when I was 16.
Barclays is a very poor quality bank.
I know you can because I have one. I got it when I was 16.
Barclays is a very poor quality bank.
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