Believe it or not, now is the best time to apply for a new ISA, despite the ISA deadline for last year passing days ago. Why? You may ask. The biggest problem savers have with an ISA is getting to the end of the year and having no money to invest into it.
By starting saving now, you can put aside money each month into the ISA, so that by the end of the year you will have enough money set aside to use your entire allowance, and you won’t have had to find a lump sum at the last minute.
Even those people who don’t feel like they can afford to save any money can benefit from taking an ISA now as even £50 or £100 a month saved will add up to a decent total at the end, which will earn interest the government won’t be able to touch.
Samir El-Alami, editor of PensionCalcultor.org explained, “A lot of people don’t realise that by keep putting off starting an ISA, or a pension, they are leaving more disposable money in their bank accounts, which they end up spending because it’s there.
“By taking a small amount each month and putting it aside for their futures they can make a real difference, and if they take the money as soon as they’ve been paid, they won’t even notice they don’t have it come the end of the month.”
So to start saving for your future open an ISA today.