Saving goals

[sparkle17]

So we are comfortable financially and I am looking at what I want to save for. I think we will have a few big ticket items to save up for in about 5 years time....new kitchen, new car and possibly holiday to Orlando.

Is it best just to start putting money aside for those things each month into a cash ISA?

I'd also love to start a stocks and shares ISA for helping my kids out if they go to university but not sure I can do this and also save for the above things.

I suppose it's about choices really.

How do others save for short, medium and long term goals?

I don’t separate anything other than pension savings - because that has to go into a separate account. All my other savings go into my offset mortgage account, and on each purchase I decide whether I’m prepared to spend that amount, how much it will impact something else I’m saving for (if I have the holiday this year, I can’t have the car…) and whether it will take my emergency fund too low.

Emergency fund and short term upcoming expenses I put in NS&I Premium Bonds.
No point using Cash ISA with rates so low, I use ISA allowance for investing.

Getting started with investing:
Choose a multi asset fund
meaningfulmoney.tv/2017/01/18/how-to-choose-a-multi-asset-fund/
Then choose a S&S ISA provider who has that fund available at as low a cost as possible. Vanguard Investor is popular if you decide to use a Vanguard fund, as their fee for providing the ISA wrapper is 0.15%.

Get in the habit of putting money in each month, set up automatic investing. Review it every 3-4 months with aim of nudging up the amount at each review.