Save for a new boiler, or just go somewhere hot?
Thursday, April 27, 2017
When you wake up in the morning and you can see your breath, you know something is wrong.
Sending an exploratory toe out from under the duvet to investigate only confirms the worst. The boiler’s on the blink again.
Kylie and Jason were number one when that old combi was installed, and deep in your heart you know it needs replacing not repairing. Better get up, have a (tepid) shower and do something about it.
After an hour’s search for Nigel the plumber’s number, you call him – only to find out he “can’t touch anymore - not got the certificate, see?” You’ll need to go online and look for a local heating technician. When you eventually track one down that can come and have a look before 2019, he gives you a ballpark figure. You find out it’s going to cost somewhere in the region of £3,000.
Use our Savings Calculators to see how much you could save for your future
That’s quite a dent in your savings. So you go back online to look up the actual price of sourcing the boiler yourself to reduce costs. It’s at this very moment the internet feeds you an ad; Luxury breaks in Palma, special winter prices!
One click later and you find you could spend the entire winter in Spain. For the same price as the boiler.
Just think. You’d be warm. All the time. The only cold you’d come into contact with would be the chilled beer in your hot little hand. You and your other half wouldn’t have to return till spring, when you’d be fully rested, looking like Greek gods and gloating over a tiny gas bill.
The cat wouldn’t miss you. He prefers the neighbour’s underfloor heating anyway.
Obviously, after you’ve remembered how bad your Spanish is, you may have a change of heart. A new boiler’s what you should have. But a warm winter’s what you could have.
Whichever way you decide to go, at least choosing the method of replenishing your savings might be easier.
Discover an ISA
The Foresters Friendly Society Stocks & Shares NISA (to give it its full name) is a flexible tax-free way to make the most of your annual ISA savings allowance (currently £20,000 in the 2017/2018 tax year), whether you’re budgeting for a wedding, say, or sending your kids to university.
In fact, if you’ve longer-term savings goals like these in mind, our Stocks and Shares ISAs might be just your thing. Especially if you’re comfortable balancing risk with the opportunity for growth. But don’t worry, you don’t need to be a top notch investor to get returns. Our NISA has real investment experts behind it.
You can pay in lump sums or make regular top ups by direct debit and regular or partial withdrawals – just like you can with a standard Cash ISA.
Of course, you should be aware that in some investment conditions you may not get back the full amount originally invested. Also, tax rules change, and can depend on individual circumstances.
But at the end of the day, will a new boiler in the cupboard beat a cool cerveza on the beach?
Only you can you decide. But Foresters can help you get there.