The one thing you must do this month is invest your ISA allocation.

You have until April 5 to make the most of the potential tax savings. You can put in up to £10,680 this tax year in an ISA-wrapped investment—either the full amount in a stocks-and-shares ISA, or half in a cash ISA, and the rest in stocks and shares.

I always invest in stocks-and-shares ISAs because I see these as a supplement to my pension. Long term, the stock market has outperformed cash investments, so if you’re planning on using your ISA as I do—for long-term investing—you should be better off with a stocks-and-shares one.

Personally, I tend to put my money in index-tracking funds each year. They’re cheap and easy to do. Also, you can get them “pre-wrapped” in an ISA. Companies like Legal & General, Fidelity, Scottish Widows, M&G, Virgin and HSBC all offer index-tracking funds. Find out more about how to choose the right cash ISA, stocks-and-shares ISA and self-select ISA

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