Fidelity International recommends regular saving

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Fidelity International recommends regular saving

Regular saving is a great way of taking advantage of an Isa allowance, according to Fidelity International, with a spokesperson for the firm claiming that even small amounts add up.

Rob Fisher, head of UK personal investments at the financial organisation, noted that people may be surprised to see how much people can save up from a relatively minor monthly amount of money.

Fidelity International indicated that a £50 payment once per month over ten years would add up to £7,559 over the course of a decade with a 1.5 per cent management charge and six per cent growth.

The company pointed out that this method of saving allows people to utilise their Isa allowance without needing to part with a big lump-sum of money.

"A monthly investment plan can be a good way to maintain a long-term investment strategy and is a useful way of being disciplined about saving for the future," added Mr Fisher.

The annual allowance for Isas in the UK was recently raised to £10,200 at the start of the latest tax year.

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