Summer is here so the weather is mildly better than it was a few months ago and with the property market still sulking like a naughty child, now is the time to make home improvements for when the market does improve and it's time to sell. But money is tight for most of the UK population, so what options do you have if you want to start saving for a DIY day?

This is tricky. As a result of the low interest rate – still just 0.5% – and of course rising inflation, which is now at 3.7%, finding a savings account offering a decent and more importantly, worthwhile rate of return requires a lot of leg work researching the market. There are a few options available to you if you know where to look.

One of the best ways to save is with an ISA. Each tax year we get an ISA allowance, which this year was raised to £10,200. This amount can be split between stocks and shares and cash. No more than 50% of it can be as cash, and to be honest with such a volatile stock market, cash is the safest bet at the moment. So, that means a total investment of £5,100.

This money is completely tax free, so the interest you make on it is all yours, none of it has to go to the taxman. With the prospect of rising taxes drawing ever near, this is even more attractive. Although the interest rates aren't as good as you can find with bonds, because you don't pay any tax they can actually work out more profitable.

They are better than instant access account rates too and offer almost as much flexibility. You can take out and deposit money into your ISA whenever you want, as long as you don't exceed you £5,100 ISA limit in any one tax year.

If you have more money to invest and a longer time to leave it in one savings account, maybe you are saving up for a new kitchen or extension, then put your money in a bond. Although you loose flexibility you will get a much better rate of return, even if you just invest your money for one year. Santander has a great range of savings accounts on offer at the moment including online ISAs and fixed-rate bonds.