Regular Savings

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Regular Savings

Apart from having a sum of money to put to good use at a later date, the great benefit of regular savings is the discipline of saving regularly.

Obvious savings

This may sound pretty obvious but it is all too easy for us to say, "I'll set something aside if I have money left over at the end of the month." In practice this is hard to do. One's spending has a habit of expanding to absorb the funds we have in our bank or in our pocket.

The simplest thing to do is open regular savings ISA because up to the annual limit, you can save without the interest being taxed. The benefits however do depend on the fund manager's investment skills and you run the risk that the value of your savings can fall and well as rise.

ISA limits

Once your ISA limits are used up for the year then you can go on saving in savings accounts, investment funds and insurance funds where there will usually be tax to pay on your returns.

But what will make these investments ethical is not what type of savings route you take or how much you decide to save but how these funds are invested.

As far as cash savings are concerned, this could mean saving with a bank or building society that has a strong ethical policy. For example, The Co-Operative Bank and the Norwich and Peterborough Building Society both pursue of socially responsible and environmentally friendly policies.

So regular ethical savings are both about the discipline of saving regularly and placing those savings with an institution that follows ethical investment values.