Every year at the beginning of April, I tell myself I must top up my Isa before the 5 April deadline. And all my friends tell me I must. My financial adviser tells me I must. Articles in the press and adverts on social media tell me I must. And every year on 6 April I ask myself: why didn’t I top up my Isa?
Yes, I know investing in an Isa is the smart, sensible thing to do – so why haven’t I done it for the past ten years? Every year I have an excuse. Capitalism is about to collapse; it’s government-sanctioned tax avoidance; I should give the money to some worthy group of activists. But the real reason is fear. I can face almost anything – childhood trauma, root canal work, prostate examinations – but when it comes to personal finances, I’m a coward. Like many people, I belong to the Ostrich School of Personal Finance.
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