Marcus de Silva of Steps to Investing offers some tips for deciding where to put your cash: in a cash ISA, which protects you from paying taxes on interest, or a regular savings account, which might offer a higher rate of interest. At the end we have a little bonus tip for those who are saving for their first home.
Time stamps:
1:13 Using the personal savings allowance
2:25 Compare rates
3:37 Splitting contributions
4:35 Bonus tip Don’t forget, investing involves risk, which means the value of your investment can go down as well as up, and you may get back less than you put in.
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