Ndubuisi 'Andy' Egwim explains why ISAs are just the beginning of personal finance. Many people open a Lifetime ISA, buy a home, then stop contributing. He also separates tax avoidance, which is legal, from tax evasion, which is fraud.
My understanding about money is that money is like currency. You know, water currents, movement helps money. One is sitting down in one place, it doesn't help at all. ISAs are not enough. They are the starting point. But if you haven't used your isa, what are you doing? You need to use it up first before you go to do something else. Common mistakes people make with the Lifetime ISA1, you can use it to buy your first house but you can continue using it. Many people buy their pesa, their lifetime isa then they stop putting any money into it. You are losing out. Tax avoidance is legal tax evasion jail term When a politician say we're going to close all the loopholes that people use to avoid tax, many of them haven't really understood the tax code. They don't understand that ISIS and tax avoidance is legal tax evasion. On the other, lying or trying to cheat is actually an issue.
