THE VALUE OF INVESTMENTS AND THE INCOME THEY PRODUCE CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.
TAX TREATMENT VARIES ACCORDING TO INDIVIDUAL CIRCUMSTANCES AND IS SUBJECT TO CHANGE
Why Save?
Often, people save for a specific reason and it’s usually the safest way to build up a pot of money.
It’s less risky than investing, but it offers limited growth. The most you’ll earn on the money you save is the interest added. Saving is perfect for people who don’t want to take any risks with their money, and most savings accounts have easy access or are for a fixed term.
There are many different ways to save, but whichever way you choose, the general idea is the same: to build up some money – savings – that can be used, for example, to make a large purchase such as a new fridge, go on holiday, pay for school fees or cover the cost of expensive times like Christmas.
Savings also provide security by making sure that some money is put aside for emergencies or unexpected costs.
Where Can I Put My Money?
There are a number of different types of saving products out there. The links in this section will provide a guide to what is available to you.
What Should I Do Now?
Since there are so many different types of savings and investments, and there are potential risks with investments in particular, it is wise to seek expert advice which can be tailored to suit your own circumstances.