Baby's First Isa

This is a historic day. Having worked on Times Money for two years, I finally feel far enough away from the squalid, hand-to-mouth student days to actually practice what I preach. I have applied for my first  mini cash Isa, having just about enough in my savings pot to make it worthwhile.

The feeling of dislodging the bulk of my cash to somewhere intangible, with a few taps of the keyboard and clicks of the mouse, is unnerving. What if it gets lost, dropping off the radar to some electronic black hole? I can recount hundreds of tales of Isa woe from readers.

Time will tell if my first foray into the world of savvy saving is a good one. At any rate, choosing my provider and applying for the Isa took all of 5 minutes. A quick scan on Moneyfacts.co.uk, the price comparison website, showed me that the highest paying instant access Isa was NS&I's Direct Isa, weighing in with 5.30 per cent, about 20 times better than the rate paid by my HSBC Flexible Saver. Having earned so little interest for years, I am anticipating a warm, smug glow when April rolls round.

Comments

[John Blackmore]

References to "worked on the Times for 2 years" and "hand-to-mouth student days" suggest that you are fairly young, well a lot younger than me anyway, and make me wonder why you opted for a mini cash ISA rather than equity or bond ISA. Cash is a good way to provide for a rainy day but hardly qualifies as a long term Investment, not even when tax free.

[Andrew Headford]

Yes, equities are not for everyone (you can't put a price on peace of mind), but at least you could have mentioned them for a balenced perspective. Reporters in the finacial pages are no doubt trained in journalism, but is there any requirement for financial qualifications or expeience. Nothing personal Zoe, this is something that stikes all the time. Many more people read the papers than take professional financial advice.What we read can be very influential, and sometimes very costly.