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theleeroy55 | 14:03 Thu 07th Dec 2006 | Business & Finance
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I Have a spare �5,000 knocking about and want to save it. What is the best thing to do with it.
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Keep it in your pillow case. Remember to remove it before putting the pillow case through the wash.
have you got a mortgage? It might pay you to pay it off that, or offset it against the interest
Make sure you use your ISA allowance, in fact you could get your �3500 now and then out the balance in a fixed term deposit until March and then put the remainder in April into another ISA.
How about premium bonds. At least you have a chance of winning a big prize and with larger sums you get regular prizes.
How long is it spare for ? If it's 10+ years, put it in the stock market (if you're new to this, use unit trusts). Otherwise building society (cash ISA if you haven't got one for this year). And if it's totally spare, pension!

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