I'm at the sort of age now where I feel I should be more responsible financially rather than squandering the majority of my salary on things I don't need, or worse still; pissing it away.

Over the last 2-3 years I've managed to put away several thousand in savings into a cash ISA, with interest rates being at a historical low of 0.5% for some years now the interest accrued for savers is paltry, my return is currently a meagre 1.75% variable rate.

Fixed rate bonds are as equally pathetic in their interest rates. Therefore I was considering investing instead into a Stocks and Shares ISA or go direct and buy shares in specific companies. A friend of mine bought shares 2 years ago in the House builders Taylor Wimpey and Bovis Homes he has since yielded a 3 fold return on his investment!

Whilst with the Stock Market you can yield greater returns you are also at risk of greater losses.

Does anyone here have any experience in this area?

Also I have recently gone self-employed which means this year I will have to fill out my own tax return, my setup is pretty simple I just work freelance for an architectural practice my invoices are usually only to one company at the end of each month and my expenses are only a handful each month (usually travel costs). Through anyones experience, is the process straight-forward enough to not require the services of an accountant?

This all sounds like grown up mumbo jumbo to me!

just go down to the casino and stick it all on one number! What have you got to lose Eh?

My mam is self employed and she doesn't have an accountant.
It is a bit of a ball ache filing the tax return but it is do-able by yourself.

As for the stocks. Many people get paid to work out this shit and get it wrong countless times. You friend was very lucky.
I think you will need to do your homework on various companies to work out which would give the best chances of profit.
I'd go main stream IT sector preferably in Artificial Technology with the company origionating from middle to Eastern Europe.

Otherwise, spend it on investing in a great website like - www.puaforums.co.uk

Get an accountant, it's a ball ache and if you find a good one you'l save more money than it costs you, his expenses are also tax deductible.

I've heard you're best off looking in one of those correctional facilities for the best ones

Kowalski - ¿Qué?

Hustler,

A Stocks and Shares ISA, selected via Fidelity's fund supermarket, has the potential to give much better returns than any cash ISA.

Example - In 2011-12 tax year just finished, Fidelity's fund supermarket reports on the dashboard that I made 12.9% (tax-free due to ISA wrapper) gains on one of my ISAs which consists of two carefully selected funds of high-growth economies.

It's risk and reward. There's also the potential to make a loss, such as some volatile funds lost 30% one year only to bounce back 40% the next year. You hope that by keeping the fund in the medium-term any losses from a previous year are cancelled out by gains in the next year, although it's not that simple.

A cash ISA is very stable, but LOSES money every year due to inflation (at least in the current UK market with extremely low interest rates).

@Kowalski - Awesome, is this how you fund your travels?! Money Saving Expert is a great site I will check out that thread. Sounds complicated though given im not much of a betting man.

@Rebus - Thanks a lot, sound advice. Was this fund graded low/medium/high risk do you know? I was thinking of playing it safe to begin and start investing in either FTSE 100, 250 or All Share funds because then at least I have some vague idea of the companies listed and how the UK market is performing.

Two high growth funds were used in same ISA wrapper. Both of them have the "Lipper rating" rating it 5/5 (best rating) for Total Return and Consistent Return. Generally, ALL equity based products are put into higher risk (on a scale they use, yet another chart), with cash and some of the bond based products put into low risk.

I will PM you details.

Where's a good place to learn how to Match bet that explains it simply etc.

I need a way of making money for doing fuck all.

How much money are we talking to make a reasonable income and are they not just one off deals where you get a free bet?

I've thought about taking advantage of them free bets before, is this what people mean when they say spread betting or just an improvement on it?

Db