Enjoy Galway to the full by saving some spending funds
The capital of West Ireland, Galway, is located on the edge of the Irish-speaking region Gaeltacht. As such, it presents itself as a gateway to some of the most magnificent regions. These include, for example, the Aran Islands, Corrib country and Connemara.
The largest of the three Aran Islands, Inis Mór, is located approximately 30 miles into the Atlantic on the western coast of Galway. Covering no more than about 16 square miles, Inis Mór gives the word 'paradise' a completely new meaning. It can be reached via ferry from Rossaveal, or rather Ros a Mhíl, a village 20 miles to the west of the city of Galway. The coastal road leading there offers gorgeous views of County Clare and the Burren situated across the bay, as well as the approaching sight of the distant Aran Islands.
The city of Galway itself offers a host of attractions, including the cathedral and the castle, theatres, the docks and much more, as well as excellent shopping opportunities. Alternatively, visitors may choose to take a walk in the beautiful Connemara area, or visit Ireland's only fjord. Known as Killary Harbour, this fjord is located in Leenane, a village in the county of Galway.
Having listed some of the many benefits of visiting Galway, the mind then wonders to how to afford this kind of exciting holiday. Accommodation in the area is typically not too highly priced, which is a good thing to start with.
Travellers will, however have to consider getting there; they will need transport to get around and make the most of the region and they will require spending money. For the majority of individuals and families suffering from generally tough times, this will mean accumulating some savings to begin with.
How to find the right account is another question altogether. With so many different opportunities readily available, the average person is baffled as to what actually represents the best savings accounts for their circumstances.
The wisest possible thing to do is make some enquiries, acquire some details and compare savings accounts offered by a variety of different institutions. Comparison sites are ideal for this purpose, as they give consumers a chance to see a variety of different options side by side, obviously making comparison much easier and less time consuming.
Typically, consumers looking for ways to invest their money will find that some of the best savings rates are offered by individual savings accounts. These are available in instant cash versions, which will allow access to accumulated funds, as well as fixed rates choices.
For consumers who will need to be able to get at their funds if it should become necessary, the instant cash varieties are decidedly the better option. They typically have very low minimum deposit requirements and still offer some of the best AERs around.
If it is possible to lock funds up for a while, fixed rate variations are the answer. They rarely allow access to funds and if they do, a penalty charge is usually applicable, but the AERs are exceptional and are only rivalled by bonds. The advantage of individual savings accounts is that they are exempt from taxes. All these choices have an upper limit to funds in them as a result, but if saving up for a holiday, not having to pay tax on one's funds can make quite a difference.
The best ISAs available on short terms, which are usually taken out for a maximum period of 12 months, offer rates of 3.35 per cent. This particular example has a minimum deposit of £500. The next best option, offering an AER of 3.3 per cent, requires no more than £100 to be deposited.
If the idea is to save over a period longer than a year, the rates get even better, although the minimum requirements do tend to be a little higher, too. The two best opportunities currently available on two year terms, for instance, offer rates of 3.75 per cent for an investment of £500, while the next best rate of 3.7 per cent is offered on an option requiring an investment of £1,000.
For five-year terms, the two top accounts currently being offered both have an investment minimum of £500 and will earn interest at rates of 4.4 and 4.3 per cent respectively. If a £500 investment cannot be guaranteed, it is actually possible to get fixed rate bonds with £1 investments offering 4.65 per cent on five year terms. This difference clearly shows just how important it is to carefully investigate and compare all options before coming to a final decision where to save for a Galway holiday.