How Can A Paragraph Generator Help With...
News2 mins ago
Saving - Working 17 yr old
1 Answers
Son has just asked what best savings account for him to open ? Not sure as 17 and working full time, any ideas where to look ? Thanks
Answers
Only 1 answer
Best Answer
No best answer has yet been selected by ihaveaquestion. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
You'll find lots of information about different kinds of savings accounts on Moneysavingexpert.com.
However, if your son is paying tax, it might be sensible for him to consider opening a cash isa so that any interest he receives can be paid tax free. Many of them can be subscribed to on a monthly basis, or putting any amount in on an irregular basis up to the current £3600 annual limit (rising to £5100 limit next April). If he's prepared to commit a regular amount to savings every month, then a regular saver account would also be worth considering because they often pay a slightly higher rate of interest.
However, if your son is paying tax, it might be sensible for him to consider opening a cash isa so that any interest he receives can be paid tax free. Many of them can be subscribed to on a monthly basis, or putting any amount in on an irregular basis up to the current £3600 annual limit (rising to £5100 limit next April). If he's prepared to commit a regular amount to savings every month, then a regular saver account would also be worth considering because they often pay a slightly higher rate of interest.
Only 1 answer
