Sep 21 2007
Individual savings accounts (Isas) have been labelled as an "incredibly safe" method of saving, particularly in the current economic climate.
A spokesperson for the independent financial advisers AWD Chase de Vere said that the tax-free way of saving was ideal, as it allowed people saving for the long term to split their investments between a number of accounts, thereby spreading the risk should anything happen in the financial markets.
Susan Hannums, savings manager for AWD Chase de Vere said: "In this current environment I think Isas are still incredibly safe.
"You should ensure that you use your Isa allowance – that should be your first port of call for your savings."
Ms Hannums also pointed out that savings invested in Isas are covered under the Financial Services Compensation Scheme, so funds are protected should anything happen to the provider that one's savings account is with.
Currently it is possible to invest up to £3,000 each year into a cash Isa.
