Her thinking is she might want to buy a house in the next 3-5 years, but doesn't know yet, sadly there are no cheap council houses to be had anymore, they've all been snapped up by socialists.
Thanks for the ideas, she's going to have a look at some suggestions. She doesn't want to commit to the savings tied to a house purchase though, so rules out LISA. @Nasher, thanks, that sounds good for her, she does a variation of that at the moment, but with the same bank. I think it's too easy for her to transfer money back to her account, which is what she wants to avoid.
I was going to say PM Rightie, he has knowledge of how to obtain a house/mortgage at a cheaper rate instead of the overinflated Capitalist system available to the masses. But i see you have knowledge of something i don't know about.
This is the luck of the draw i guess as other people have mentioned this to me,but i left and forgot £5k back in 2007,with 28 payouts so far at £50 in the early days & but these days unfortunately only £25.
I did actually mean with the same bank, it's what I do. I know it can be too easy to transfer from one account to the other within the same bank, but I decided going from Bank to Bank was going just that little too far. Logging on to two accounts etc. For me, just logging on and doing it is enough of a faf to stop me spending the money at times. She's obviously got a good idea of how to manage her money already. Nasher.
Buy her a few shares in the emerging bleeding edge tech companies like the British air breathing rocket engine or lightweight, high energy battery development, ya never know! I wish I had bought shares in the like of Google, fudbook Microsoft et al 20-30 years ago. Worth a punt for a few hundred quid... Other than that - Mortgage, pension. and a training fund for what ever she intends to do. Put it in a safe investment fund. My Lad has several saving accounts. not the best earner but they are healthy non the less. In 7-8 years when he is old enough he says he wants to be a pilot; by then he should have a pretty good seed amount. Planning is the key. I wish my folks had don it for me all those years ago.
If the LISA is not what she wants to commit to then how about opening up an ISA account. I use Fidelity (Stocks and Shares ISA) for my sons and wife and they've performed well. If she buys now (globally, many shares are generally down) and sits tight for 3-5 years it could return good growth. Regular savings could be set up to suit her needs. A few funds to review if she's interested: Fidelity Asia Fund https://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F0GBR04S22 AXA Rosenberg Asia Pacific Ex Japan https://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F0GBR04CDN Fidelity Global Opportunities https://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F00000NQ9X Fidelity Index UK Fund https://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F0GBR04S1J Scottish Widows Gilt Fund https://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F0GBR04S4H PS - I don't work for Fidelity, just used them. Plenty of other good providers out there! Morningstar is good for research and checking fund performances.
As per this I have a stocks and shares ISA with Invesco Initially to pay off my mortgage I was lucky with interest rates so low My ISA performed above and beyond
