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 ISA tips
If you do want to save tax and invest in an ISA always make sure that you take up your allowance by 5 April every year. Remember - use it of lose it.
Always check charges levied by ISA providers carefully and compare and contrast the offers that are available.
Check the interest rates that you receive on Cash ISAs and if you wish to transfer to another Cash ISA offering a better interest rate then you can do so. But never withdraw your cash ISA before you transfer it somewhere else. You will lose the tax benefits if the Cash ISA is withdrawn rather than transferred.
When investing in funds, stocks and shares look at past performance and returns achieved.
Keep a close eye on your investments including the performance of the funds, sectors and stocks. Use DigitalLook.com to help you keep on top of your investments.
Don't panic. Shares can go down as well as up but look to the longer term.
Consider whether you want to invest in active management funds where the fund manager actively picks stocks based on his or her research, or passive management where the fund tracks a particular market or index like the FTSE 100 basket of leading UK shares.
Look out for CAT standards, the government's standard to help savers navigate their way through the often-treacherous waters of picking a suitable ISA.
ISAs are a flexible savings tool that can be used for a variety of things including saving for a mortgage or helping you on retirement.
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Individual Savings Accounts (ISAs)