University Costs
Based on your results, it looks like you're considering going to university - good luck!
Often individuals find that their student loan does not cover the cost of their time at university - your CTF could be helpful here (but approach with care)!
If your parent(s) plan on covering your rent or contributing towards your university living costs, it could be useful to put your CTF money in a high interest savings account to build an emergency savings pot. Check out the current best savings accounts here: money.co.uk
Alternatively, you could do some part time work to top up your student loan. This could be really useful as it will help you get more money out of your CTF and it also means you could use it for emergencies or save towards something in the future (e.g house, car). Check out E4S great website for finding jobs specifically for student (also check your Student Union).
Another potentially useful way your CTF can help you with university costs is using it for the rent deposits you will need for your houses/flats/accommodations. Instead of denting your budget across the whole year, using your CTF to cover deposit costs will increase your remaining student loan budget, meaning you have more money for food, fun and everything else at university!
Not sure how much it costs to live at uni and if your loan with cover that cost? Check out:
UCAS Bugdet Calculator + Student Finance Calculator
If you're unable to do part-time work whilst at university and your student loan doesn't - you could use your CTF to cover the costs of living. However, it could be a good idea to try and save as much of your CTF as possible.
Finally, if your student loan is enough, putting the money into savings could be incredibly useful for when you graduate! The economy could still be in a difficult place and a healthy savings pot - created by your CTF - could be the spring board for success!
Take a look at an the money.co.uk website for the best savings account for your circumstances.
Generally at the moment, the best interest rates on savings account are available through 'Regular Savings Account'. These are bank accounts which are paired with a normal everyday bank account that you have where you have to save a certain amount of money a month.
To maximize your interest, you could move your CTF money into an 'Easy Access Savings Account' and then 'drip feed' it into a 'Regular Savings Account' or any bank account you have with higher interest.
That way you'll get double the interest!
For more information on what 'drip feeding' is, and the best 'Regular Savings Accounts' available at the moment, visit: Money Saving Expert - Best Savings Accounts