Money saving ideas
Money saving comes in many forms, from putting money away in a savings account to stock market investments. The right method for you is the one that best meets your aims and your budget.
A savings account provides a rate of interest on the money you deposit and there are many different types to choose from.
Instant access accounts provide fast access to your money. Savings accounts of other types may pay more interest but may require a notice period for withdrawals or reduce interest paid in any month you make a withdrawal. Bonds require you to put money way for an agreed period before you can access your savings.
A cash ISA (Individual Savings Account) is often at the top of financial advice lists because it's a way of saving money tax free 1 . With an ISA, you don't have to pay tax on the interest you earn.
If you are thinking of investing for the longer term, it's wise to get advice on the different types of investments available. You will need to decide on your priorities - you might be looking for a cautious investment that provides a regular income; you might prefer a higher risk investment with the potential for more growth. Or you might want a blend of the two.
You may also want to get additional savings advice to help you achieve a balanced savings and investments portfolio.
If you are saving money specifically for children, a Child Trust Fund could be a tax-efficient long term solution.
At Barclays, we offer a broad range of money saving products - take a look at our savings accounts here.
At Barclays we offer...
A wide choice of savings accounts - why not take a closer look?