Methods of Saving
- Created by: DeniseAlex1910
- Created on: 10-01-18 01:34
View mindmap
- Methods of Saving
- DSAs
- Interest is earned on positive balance
- Savings account where interest is paid on balance and notice is required before withdrawing money
- Interest is taxed
- Stocks and Shares
- Prices fluctuate offering a potentially high reward
- Buying a business's shares for euity
- Also has high risk
- ISAs
- Interest rates are higher
- Saving account where holder isn't charged income tax
- There is an annual limit
- Pensions
- Encourages savings for retirement
- Contributions are made through the years to build up an amount that will help in future
- Difficult to predict outcome
- Premium Bonds
- No guaranteed return of investment
- Government scheme where buying bonds can make savings money
- No loss or penalty upon withdrawal
- Bonds and Guilt's
- Regular fixed returns
- Fixed term loans where person lends money to company or banks in exchnage for interest
- Interest payments may not be received if issuer doesn't make payments
- DSAs
- Definition
- Untitled
- Advantage
Comments
No comments have yet been made