In this episode of the Mind Money Soul podcast, I’m going to be breaking down the different types of ISA's. ISA stands for Individual Savings Account.

Each tax year (from April to April), you’re given a £20,000 ISA allowance. This means you can save or invest up to £20,000 in ISAs without paying any tax on the interest you earn. You can put all your money into one type of ISA or spread it across multiple types, just remember that the combined total cannot exceed your £20,000 annual limit. With so many different types of ISA’s out there, it’s no surprise why you might feel overwhelmed and even deter you from opening one. What are they? Why are the useful? How do they work?! I’ll be sharing a brief overview of the top line information that you need to know about ISA accounts available in the UK.

There are some AMAZING benefits of ISA’s! Did you know the government add a 25% bonus to money you add to a lifetime ISA, which means if you maxed the limit of £4,000 you would receive £1,000 of free money - big fat slay! Taking some time to educate yourself can MASSIVELY help you in the long run! So dream big, think of your big happy goals, educate yourself and explore how an ISA can help support you on your journey to financial freedom.

In this episode:

• The basics of an Individual Savings Account

• The 4 main types of adult ISA's

• The OLD rules which no longer stand

• A breakdown of Cash ISA's

• Why I love Stocks and Shares ISA's

• How you can make £1000 per year from a Lifetime ISA's

• Exploring Innovative Finance ISA's

• A brief overview of junior ISA's

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