Scottish Friendly My Select (ISA) From £10.00 PCM

Cash Isas And Stocks And Shares ISAsIt’s always good to have something to look forward to, especially when times are tough. Whether it’s that once-in-a-lifetime holiday, a new car, or simply saving for a rainy day, putting away a little each month will help you have a brighter outlook, whatever the financial forecast.

Saving and investing isn’t the first thing that comes to mind if you’re already cutting back on luxuries. But if you’re putting the money aside for a project, be it DIY, or even saving up for a deposit on a house, knowing that you are investing properly for the future can make missing out on those treats a whole lot easier to stomach.

Whether you’re cutting out your morning coffee, swapping your gym membership for a daily jog, or even swapping the tube for a bike, if you invest the savings you make every month, it will give you a bigger boost than those unnecessary daily indulgences.

Investing as little as £10.00 per month in a My Select (ISA) from Scottish Friendly allows you to build a tax-free investment gradually. Alternatively you can make lump sum payments from £100, and keep your money safe from the taxman – although tax treatment will depend on your personal circumstances and tax law may change in the future. Tax-free means the fund your plan invests in grows free of income and capital gains tax (other than tax on dividends from UK shares).

My Select (ISA) allows you to choose from a range of five funds with differing risk and reward profiles ranging from low, medium to high. So you can choose the ones that best suit your needs. Remember, that as with all stock market investments, the value of your investment can fall as well as rise, and you are not guaranteed to get as much as you have paid in. You should consider a My Select (ISA) a medium to long-term investment for a period of at least five years. And cashing in your plan before five years will incur a £50 deduction from your cash-in value.

Regularly contributing towards your investment over the medium to long term should mean your horizons are that bit clearer, even in today’s foggy financial climate. Whatever your plans for the future, Scottish Friendly can help you work towards your dreams for a brighter tomorrow. Find out more.

Lee Owen

Enthusiastic, opinionated and dry humoured internet vagabond.

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