Andy, we are all relying on you to save us money / help us earn money in these trying times. Thank you for your hard work 🙏🏽
@BeCleverWithYourCash2 жыл бұрын
It’s a pleasure
@ZeroRiskAppetite Жыл бұрын
Well this aged poorly
@CraveThatCoin2 жыл бұрын
The more i watch your content the more i appreciate your hard work. You are catering to the masses of finance not the get rich quick channels you see all over the place these days. My opinion of cash ISAs is with current interest rates they are a very bad idea. Better to make use of chase for savings and a stocks and shares isa for long term investments.
@BeCleverWithYourCash2 жыл бұрын
Thank you! Really appreciate you noticing that.
@narinderbasrai23672 жыл бұрын
Hi Andy, would you risk putting more than £85k in a Chase savings account? I’ve just sold my house and am planning on buying next year but currently renting. I’ve maxed the Chase savings limit on the basis that banks these days have to go through stress testing and it is highly unlikely Chase (part of JP Morgan) would become insolvent. Would you do the same in my position?
@Moultonist2 жыл бұрын
I don’t agree that a cash isa is not worth it at the moment. There are people like me who trust the big-name long established banks and building societies and don’t want to deal with the snazzy financial companies we’ve never heard of. Chase? Who are they? Can they be trusted? So I look at the savings rates at the trusted banks and see the rates are useless eg. 0.01 to 0.2 percent. Therefore I look to isas and can see rates of 0.5 to 1.5 %. That’s good isn’t it? I’ll take it! I don’t to be a comparison slave and keep opening and changing bank accounts. You have to be a nerd to do it. And yes I do know about the FCA scheme. I’d be interested to receive considered replies. Thank you
@jamescaley99422 жыл бұрын
Savings rates are derisory because banks don't need your money when the government can print it. Inflation is heading north at 8% or higher. That is an 8% stealth tax on savings. It looks like some nerve to charge anyone any tax on interest below inflation. We tax alcohol to discourage drinking, fuel to discourage pollution, cigarettes to discourage smoking, and savings to discourage ..saving.
@GCSEALevelMaths2 жыл бұрын
Congratulations sir on 29k subscribers you deserve success sir!! I’ve managed to hit 1k recently!!
@BeCleverWithYourCash2 жыл бұрын
Well done you!! That’s fantastic
@colinsynnock57562 жыл бұрын
Hi Andy With regards to the tax free allowance of 1000 for savings. There is a further benefit for those on low incomes with substantial savings. If for instance your taxable income was 12570 you obviously get the 1000 but in addition you get an additional allowance of up to 5000 above the 12570. If your earnings are say 15750 the additional allowance would be 2000. Colin Synnock
@minimad87932 жыл бұрын
Thanks Andy. Have been trying to work out the figures on my savings for the upcoming year so the graph you have produced helps with towards that. Multiple pots can be taxing lol
@YourAverageInvestor2 жыл бұрын
I do actually have the NatWest Digital Regular Saver saving £50 a month towards the £1,000 - I opened it a little late! I tend not to have a cash ISA anymore, I find a Stocks and Shares ISA more worth it 😄
@BeCleverWithYourCash2 жыл бұрын
You can pay in £150 a month now to the NatWest account
@YourAverageInvestor2 жыл бұрын
@@BeCleverWithYourCash Thanks for the heads up! I'll change that up and start earning some sweet interest!
@wicky5252 жыл бұрын
surely your assumption that ISA is better , doesn't stand up if ISA rates are less than half bond rates ~ 50k @3.91% bond = 1950 ( 1564 after tax ), whereas Yorkshire BS ISA 50k @ 1.8% = 900
@Zimpaz2 жыл бұрын
I use my s&s isa to save for my kids. Plan on saving £200 a month for 18 years so hopefully get more gain than the allowance if it was outside an isa
@AvaAndLayla1232 жыл бұрын
Hi am unemployed but got 20000 to save for my grandkids want no risk saver any advice
@amerasinghamkarunananthan7112 жыл бұрын
Hi Andy, any report on Santander new digital instant saving account? Awaiting! 🙏🏽
@johnwilliams88692 жыл бұрын
Brilliant video Andy... Great advice on strategies for saving and investing in inflationary times. Thanks.
@lovingit8242 жыл бұрын
Hi Andy are the same allowances applicable to children?
@lamarquesita34592 жыл бұрын
Hi Andy, a quick one! Does your credit score get penalised if you move your savings from your ‘all life’ bank to another one with a better interest like Chase? I have 0,4% in Barclays blue rewards savings account at the moment, thinking about moving all the money to chase for the 1,5%…
@BeCleverWithYourCash2 жыл бұрын
Moving savings accounts won’t impact your credit report at all, unless you go for an account linked to a current account. But Chase performs a soft credit check so that won’t make a difference!
@kelle_li2 жыл бұрын
Hi Andy quick question - I have an emergency fund in my cash ISA in my high street bank account - what are your thoughts of putting this and holding it in premium bonds? Obviously no interest but the chance to win cash prizes? Cheers!
@BeCleverWithYourCash2 жыл бұрын
Two main thoughts. It can take a few days to get the cash (hopefully not an issue but worth bearing in mind), and now you can get more than 1% elsewhere it’s less attractive (unlikely to win big). More here kzbin.info/www/bejne/h57CqGqlnKd1jJY
@Topman-262 жыл бұрын
Very helpfull once again, il put my money in a s&s isa.
@bryanrae70502 жыл бұрын
Interesting video Andy and with the PSA cash isa's for most are now redundant. The amount you need now to pay tax is extremely high most people will never need to worry about tax
@BeCleverWithYourCash2 жыл бұрын
Totally. They can still be useful, but for most people it’s not an issue
@PilotChris06FW2 жыл бұрын
I thought an ISA is primarily an investment instrument ?
@BeCleverWithYourCash2 жыл бұрын
The most popular ISA is the Cash ISA
@christopherhubbard6022 жыл бұрын
Im thinking of using one
@BeCleverWithYourCash2 жыл бұрын
If your situation fits, then go for it!
@IamGrimalkin2 жыл бұрын
There is a reason for getting a cash ISA you didn't cover: you can transfer from a cash ISA to S&S or IF ISA without using your ISA allowance. So if you don't feel comfortable investing in those ISAs yet but might want to in the future, you can bank £20000 in a cash ISA wrapper this year to invest sometime later on.
@aliciacb8284747274 Жыл бұрын
Have you found a cash ISA which lets you transfer from S&S and vice versa? I’ve not come across a single one which lets you do this