A School trip or Strictly Salsa - what would you save for?
Friday, April 7, 2017
Kids today. Really.
Remember when you were at school? You never had computers – actually, you were lucky to have a calculator. And as for school trips; a coach outing to the nearest zoo was about as exotic as it ever got.
But now. Now children zoom off to the Space Centre. Now they ‘experience’ history on the fields of Flanders and the beaches of Normandy. They trek up the Dolomites or ski down the Alps. Some even go on football tours to places like South Africa or America. (Didn’t you used to need to be selected to play for England to do that?)
And now you’ve yet another foreign field trip to pay for. Is this the one to study Palaeolithic painting in caves near Cahors? Or the cultural exchange with a town you've never heard of? Either way, your savings are about to get another hit.
But hold on a second. If your savings have been contributing to your family’s education, why can’t it be yours? Because it’s become apparent that for the same cost you could do what you’ve been meaning to do since the first series of Strictly; sign up for a course at the local Salsa school.
Think about it. A school trip may be educational for your child, but dancing lessons would be inspirational for you. And besides, isn’t it better for you to be skimming sublimely around the local ballroom than them skipping normal school.
Obviously, after you’ve remembered your dodgy knee, and what happened last time you (literally) hit the dance floor, you’ll probably change your mind. Your child’s learning is what you should pay for. But learning those killer moves is what you could pay for.
Whichever way you decide to go, at least choosing the method of replenishing your savings is easy – a New Individual Savings Account from Foresters.
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, saving for a deposit on a house, 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 it be the school trip abroad for the child, or tripping the light fantastic for you?
Only you can you decide. But Foresters can help you get there.