Where would you put £100 a week

[iwantsunshine1]

I have a £100 a week to put somewhere and I'm thinking either LISA, s&s ISA or premium bonds (I don't have any bonds at the moment). Which would you prioritise?

What plans do you have for the money? If you don’t need it I would be tempted to put it into a pension.

It depends on your saving goals. If you haven't got enough buffer for emergency spending, then put those £100 in an easy access saving account until you meet the amount you are happy with. If you have got enough buffer for emergency spending, then I would suggest to save them into a high interest rate saving account but with limited number of withdrawals. This is for the second buffer of cash. Then after that, you could save those £100 into a stock and shares ISA, which is for longer term investment (at least 5 years untouched). I don't know much about LISA.

At the moment, I have about 4k in easy access saving account; 13k in fixed rate bond saving which I can't access for 1 year, and about £17k in stock and shares ISA. I plan to build about £20k cash reserve. Once I reach this target, I will only save money in stock and shares ISA.

Is it for short, medium or long term goals?

Short term - likely to be needed in next 2/3 years - best instant access account you can find. Probably not premium bonds until you've built up a lump sum, but if you get to, say, £10k, it might be worth moving some across as you're less likely to win on smallamounts.

Medium term - unlikely to need in next 5 years but don't want to lock up until retirement - S&S ISA probably best.

Can tie up until you're in your late 50s - Lisa (this would also be appropriate if you're saving for a mortgage deposit).

I agree with the other comments, decide what the purpose of the money is, then that will help decide where it goes.

Emergency fund needs to be easily accessible.

Savings account for short term use, such as a known expense in a couple of years time.
Stocks & Shares ISA is for at least 5 years ideally longer investment.
Pension for retirement.