How have you used your 2009/10 ISA allowance?
I haven't used it - and don't intend to
29% (15 votes)
I've alredy used my full allowance
40% (21 votes)
I have used as much of my annual allowance as I am able to
13% (7 votes)
I intend to use all/part of my allowance in a cash ISA
13% (7 votes)
I intend to use all/part of my allowance in a stocks and shares ISA
4% (2 votes)
I intend to to all/part of my allowance in both a cash and a stocks and shares ISA
0% (0 votes)
Total votes: 52
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These questions do not cater for someone who has used part of their allowance i.e. the cash part, and has no intention of using all of the stocks/ shares part
I have used all my allowance for this year. However, have had to put it into a 3 yr fixed rate ISA to maximise the return as the interest rate for savings is incredibly poor. There are few and far between offers that are above less than 1% for instant access. Only those with fixed terms are offering anything better. Who knows what the next few years will be like. This might be good for those who want to spend or to generate activity in the economy. For those who are looking to save for the long term/retirement, there are no decent rates.
I have used all my allowance for this year. However, have had to put it into a 3 yr fixed rate ISA to maximise the return as the interest rate for savings is incredibly poor. There are few and far between offers that are above less than 1% for instant access. Only those with fixed terms are offering anything better. Who knows what the next few years will be like. This might be good for those who want to spend or to generate activity in the economy. For those who are looking to save for the long term/retirement, there are no decent rates.
At the present rates it is not worth it. You can get a far better return on some savings accounts. All it takes is a little searching.
With such poor return I do not intend to invest any more in ISA. I may even withdraw and invest where return is better.
I have invested, but in a fixed term deal. My hope is that rates will rise in future, as currently some other accounts pay better, even after tax is taken off.
Susan Flanagan
I do not think the rates are worth it unless you tie your money up for several years why should I commit myself to poor rates for 3/5 years when things could change before then. also I do not think they are flexible enough.
All used in a S&S ISA as every year (daft not to as the money would be invested anyway).
Cash ISAs hopeless at the present time as better rates available ex-ISA even post tax.
I managed to get my husband and myself a 7% cash ISA with Saffron Building Society courtesy of this site. We've managed to save the maximum that we could for the year and this will pay for a new boiler and kitchen which is badly needed.
Thanks Moneywise for your advert re this ISA, looking forward to researching the next place to stash my cash for my next home improvement project.
I have put the full allowance into a cash isa but like many other bloggers for a 3 year term
I think the government should make the banks have a better system for switching from one account to another .This may encourage the providers to offer better rates !!
My wife and I also used this years cash ISA allowance with Saffron's 7% account, being over 50 we were able to top up the payments to the max £5100.
Reading elseware in Moneywise, that this year has broken all records for cash ISA sales due to the allowance increase for over 50's in October 2009 and bearing in mind the new allowance is available to all for the new ISA year 2010-2011, does anyone else think that, in view of the poor interest rate savers are getting just now, there could be real competition between Banks and Building Society's, offering a much higher rate, for all that extra money that could be available from investors removing savings from those said poor accounts...or am I just being forever the optimist.
Every spare penny went into a SIPP for an instant 40% increase. An ISA just doesn't compete (I'll pay basic rate tax when I recieve it as a pension.)