Saving £1k each month

[PleaseEnterAName]

Hi everyone, where would be the best place to save £1k per month?
Are there any high interest options out there or would an ISA be best?
TIA

It depends on how much access to the money you want. A stocks and shares ISA s great for medium to long term savings, but do some research and understand what you’re signing up for. There’s some great podcasts out there which explains the details and risks.

Thanks @MsAsparagus, appreciate that.

What is the money for? Give it a purpose and that will help determine where it can go.

Emergency fund: that could go in an interest paying easy access account.

Investment for 10 years time: that could be inside an ISA wrapper, invested in global equities. Value will go up and down quite a bit but over long term should see a general upwards trend.

Podcast: Short Term Goals

meaningfulmoney.tv/2023/06/28/finance-os-short-term-goals/

Podcast: Long Term Goals
meaningfulmoney.tv/OS8

@PleaseEnterAName It really depends on what stage of life you are. If you are going to buy a house, then LISA would be best. If you have already got a house and needed to have an emergency buffer, then normal savings with good rates would be better. If you are sorted in terms of emergency buffers and house, then the next step is to up your pension contribution and invest long term in stocks and shares ISA. I pay an additional 27% on my pension, then save about 40% of my take home pay (60% to stocks and shares ISA and 40% for cash reserve).