Hi folks and welcome to another five minute Friday here I'm meaning for money

great to have you with me once again

shall we do this?

Very weird doing these sort of batching them because I have the same shirt on week after week

Perhaps I should think about production values and bring three shirts whenever I batch these videos

But anyway, let's answer some serious questions here and let's talk

about the only three accounts the vast majority of us will ever need. So let's put

five minutes on the clock down here and let's dive in.

You know the personal finance industry loves to make things complicated.

It loves to bombard you with information. You need this. You need to consider that.

You need to do X, Y and Z.

For most people though, when it comes to the wealth

building aspect of your personal finances, so excluding life insurance and stuff like that.

When you're talking about actually building wealth, most of us only ever need three kinds of accounts.

So first up is the cash izer.

Now cash ices generally are a rubbish idea.

The rubbish idea at the minute because interest rates are so low and you're saving tax on a fairly

paltry rate of interest. ISIS remember are completely free of all taxes.

So why might I suggest that as a good idea? Well a cash ISA is a pretty good place

to hold an emergency fund, something I always

bang on about here. It's your sort of buffer between you and the world. It's money you can get

out straight away if you need to. something goes wrong. Car blows up,

...