Do you enjoy saving money? If so, then you might want to consider a Tax FREE Savings Account as a way to build and enjoy security in your future. I recently found some information for an ISA for my UK readers.
Here is some information about them: ISAs were introduced by the Government to encourage us to save more. They give you a special tax advantage so that if you are a taxpayer in the UK, you won’t pay any personal tax on the interest you receive or on any growth on your investment.
Each tax year you have an allowance for the total amount you can save in an ISA. It’s important to make the most of your ISA allowance each year. If you don’t use your full allowance, you won’t be able to carry forward any unused portion to the next year.
I want my kids to have a secure future, and I also want to know that they will not have to take care of ME or my hubby financially someday. Having savings is a great way to ease this anxiety…and tax free is even better!
Tax FREE is a huge sell for me! I hate paying taxes on savings…especially since we pay taxes on it when we earn it. Makes no sense! The money that you earn is for YOU to enjoy and so the silliness of paying it twice just makes NO sense.
Also, something to consider is that putting money is savings can build savings quickly. We try to “pay ourselves” from each paycheck. It adds up and as it builds interest, that adds up. We use coupons to save often and I have a friend that puts dollar for dollar into her savings account. So if she saves $20 using coupons, then she adds that $20 in savings to her account. Super smart! What do you do to save?
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