ISA Explained for Beginners: Everything You Need to Know

UK ISA's EXPLAINED! (Cash ISA, Stocks and Shares ISA, Lifetime LISA & the Innovative Finance ISA) And how YOU can use them to build wealth

Are you looking to save money to set up for your future?
Maybe you already have a savings account but those savings aren't growing how you hoped, leaving you feeling frustrated. I hear you!

Well i'm here to tell you that by using a UK ISA you can save a tonne of money AND can even get some free cash from the government in the process

In this video I cover all of the types of Individual savings accounts(ISA's) available, Including:
Cash ISA
Stocks and Shares ISA
Lifetime LISA
& the Innovative Finance ISA

You might be wondering how an Individual Savings Account can work for you, or what the difference between the each different type is?
Maybe you have looked into ISA's already and lets face it, a lot of advice out there is super boring and often totally confusing

I know, I get it! The topic of UK ISA's can seem super intimidating and many people are left confused on where to start
I'm here to show you how you can use an Individual savings account to build long term wealth TAX FREE (Yes you heard me!)

I will take you through each of the main ISA types, explaining what they are for, how you use an ISA AND I will give insight into how I personally structure my own ISA's for maximum effect and optimum wealth growth

Sound good? Great! Then watch this video, and start YOUR positive personal finance journey

🕘Timestamps:
0:36 What is an isa?
1:13 Tax wrapper explained
2:19 Current tax levels
5:30 Cash isa
7:25 Stocks and shares Isa
9:46 Isa contribution limits
11:55 Lifetime Isa LISA
15:53 Innovative finance ISA

📎 Links from the VIDEO
General Info
Government website providing information and up to date allowances for all UK isa types

Cash ISA
1. Which article listing different types of Cash isa
2. link to Comparison site

Stocks and shares isa
Here are the two i have used.
Vanguard are an american company HL (Hargreaves Lansdown and based in the UK) I switched from HL to Vangard as their ISA is slightly cheaper.

🎫 Do you want a free share?

Create a Trading 212 Invest account using this link:
All you have to do is deposit £1 and we both get a free share!

Freetrade free share

🎬 Do you want to make videos like me?
The Gear I use:
Background:
Background stand:
Tripod:
Lighting:
I light the backdrop with this:
Audio:
Camera: I current use a Galaxy S10..
The Visuals:
I use Storyblocks for all the sexy B roll.
The sounds:

📚 5 books to shape your financial future:
The richest man in Babylon:
An engaging tale that teaches the fundamentals of saving and attitudes you should have towards money. I listen to this at least once per year.
A random walk down Wall Street:
Let Burton Gordon Malkiel, explain everything you need to know about trying to beat the market.
Rich dad poor dad:
There is a reason this features on all lists of the best books. You will walk away from this truly understanding the importance of income producing assets.
The Millionaire next door:
I love this book because it destroys the conventional perception that all millionaires are one type of person. Read this and you will so realise being a millionaire is well within your grasp!
Green eggs and Ham:
Life changing

[stevethornhill]

Like a toddler learning to walk, found you about 4 months ago and you've come a long way in both content and delivery, keep up the great work

[zbadgergamesz]

Everyone needs to see this, simple and could help so many people out. Cheers for the upload!

[jackalope]

Hey damien I just started watching your vidoes and I have to say they are great because they make financial topics like ISA's, asset classes and investing really clear and concise for me as a young 15 year old who is interested in finance and business as I am teaching myself how real estate works and now I can understand how investing works and the accounts to use, just brilliant job mate thumbs up!

[AllthingsHLC]

Very good video! Came here after watching a 2023 video (the progress of the vids is also great!)

[Chrisliu]

I have been researching in different types of ISAs over the month and your video literally sum everything up in a super clear way!

[rbdsmadmaster]

Best video I've seen out here. Simple, clear and not 1h long. Keep up.the great work man

[amandagraham]

Thanks for making a clear and easy to understand guide to ISAs! So much more straightforward than other videos- I understood and actually enjoyed watching it!!

[rgibson]

Not ashamed to admit I think I'm your new biggest fan! My friend recommended your videos to me and this is exactly what I've wanted to do with my savings for years but had no idea where to start!!! I wish I'd have started ten years ago but excited to get a pot started for my son who's 18 months old! Thank you so much, its actually life changing!! I've barely even watched anything on youtube before, let alone subscribed to anything. If I could invest in you, I would! Also, very much appreciate how much time that little farmer sketch must've taken LOL!

[jonnymyatt]

I've been watching a few other ISA videos sometimes not felt clarity on a few things. This ones a good great break down. Keen to see the next vids

[Life_Literacy]

Only Found your channel last week, but spent my free time binge watching! Wish I’d had this 20 years ago when I was 20! Though be a little weird as you properly been in nappies 😆 informative, fun and genuine. Being your authentic self really shines. Thank you.

[jackburge]

Great video, especially useful for someone like myself trying to understand ISA’s after leaving university!

[Tbizzleization]

This is so much easier to understand! Everyone should know this. Cant wait for more videos. Keep up the good content

[TradingWithCJ]

ISA’s are such an easy way of getting that extra boost! Rather than the 0.2% some banks offer, great video, just sub’d 💯

[Kellestial]

I’m 22 and only just learning all this… why can’t they teach this in a lighthearted and straightforward way like you do in highschools???

[BlessedPetrel]

Just found you (I mean your videos ;)) and have been binge watching your videos. Im a late bloomer to Investing in ISA Stocks & Shares (better late than never) but have been a faithful Cash ISA contributer. Just joined Vanguard last year (this pandermic has shifted some priorities). Great content Damien. Keep them rolling in please. God bless.

[princejamil]

Very well explained love the easy and funny ways you explain but still u get to the point! An interesting way to watch videos without being bored!

[alexz]

That joke at the end had me absolutely creasing 😂 really clear and informative video, thanks man.

[martinajohn]

Your sooo good. Love your videos. That finishing one liner was legendary...“Those assets are smaller than you thought” 😂🤣

[rufdymond]

We are so lucky to have ISA’s in the U.K. many countries are not so lucky, even if they have tax efficient wrappers, their allowances can be much lower than ours. I’ve always found it baffling therefore why people do not take advantages of ISA’s. Each year you have £20, 000 that you can invest and all gains are tax free. Its a brilliant way of securing your future, and people should try their best to take advantage of them.

[thankfuckformusic]

Thanks for this! Very clear and not boring. Can't wait for more vids!