Now is the time to dig out your savings from under your bed and find somewhere better to put them, and I don’t mean in the cupboard! There are many places you could consider putting it to make the most of it, but here I will consider 3.

In the UK the safest place to put your money is in an ISA. These offer tax free savings and you can put up to £3000 a year into a standard cash isa. The interest received will be higher than a normal savings account as you aren’t paying tax on it. Most ISAs also allow instant access to your cash although some don’t in exchange for a better interest rate. The most common type of ISA is a Cash ISA but there also Stock and Shares ISAs which offer greater returns over a longer period and allow you to invest a further £4000. When choosing an ISA be sure to check out a comparison site first to get the best rate. You will be able to put in your requirements, such as instant access, and it will show you the best rates. Some of the most popular tools are - Money Supermarket, Money Extra and Fool.

If you feel an ISA isn’t right for you or you have already filled it up for the year you may want to choose a savings account. These are also very safe and there are many different types available to suite everybody’s needs. If you can commit a certain amount each month there are a range of products that will offer you a much higher interest rate for a set period. The downside is that you have to be able to put in a set amount every month to get the high rate and the rate doesn’t last forever. This type is often called a Regular Saver.

If you are more of a risk taker you could look at Shares. There are different ways of doing this and the most risky is to go out yourself and pick some companies to buy shares in. This isn’t a popular option for many as you have to do all the work yourself to make sure you pick the right shares to buy. A good way for beginners to do this is to invest in a fund, which spreads the money across a large number of companies that have been picked for you.

Be sure to do you research first and check out comparisons for which ever option you choose.