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Shouldn't "building a cash fund" come under the savings and investments board? Anyway, here's my two penn'orth.
To my mind, 3-6 months' instant access money is paramount; once you have that, you can happily build up longer-term money - the trouble is, you'll have to spend more time building up the money you want to lock up, so I would suggest saving 6 months in an instant access account, sliding 3 months across into a 6 or 12 month FTD (or cash ISA if you don't already have one) and saving another 3 months in the instant access account. This will keep available cash ready to hand, while allowing you to get the benefit of higher rates.
Spread your money about, even if they are only small amounts - nothing could be worse than being made redundant a week before/after your one chosen bank goes under, leaving you with a 3 month wait for compensation; better to have 2 or 3 unrelated accounts to keep your available funds as high as possible.
You've never seen me, but I've been here all along - watching and learning...
Have a conscience and it'll save you thousands! Truly it will - for example:
You may not get the greatest interest rate but do remember to use your local Credit Union. They are VERY safe and you can get your money out quite quickly. You can get a VERY low interest loan for urgent/important items if you are a saver with them.
Think FREE and think NEED NOT WANT before you take it even if it is free. If you don't NEED it, it's clutter for you and someone else who NEEDED it has to go without.
Use Freecycle and be fair with your asks.
Get rid of credit cards and only use a debit card - that way you can't go overdrawn...
Learn to cook & sew - everyone can do these things and it can save you hundreds a month
If you see me on here - shout at me to get off and go and get something useful done!! e-competitions: £125 furniture voucher, £80 canvas digital print
I get paid weekly and my plan (once I get christmas out of the way) is to put aside a little bit of money each week and then every month put it into a fixed term bond with the yorkshire building society. Over time open 12 bonds, one for each month. From then on I can top up each months bond on it's anniversary.
Worst case scenario I can ask for it all back in one go and lose interest.
Or I could close one bond per month to help with a monthly income.
Long term I would aim to have a months salary worth in each months bond but that would take a while to achieve.
£2 coin savings club: £56 (£56 banked)
Any other loose change gets sorted and banked with the £2 coins. Up to £216.85 (85p interest!) in the bank plus stuff in the coin counting machine waiting to add up to something!
Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps. Take care over copyright. Use excerpts and links rather than copying long text. This site asserts copyright on all comments posted on the board.
Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.
Building a cash fund discussion
Truly it will - for example: 
e-competitions: £125 furniture voucher, £80 canvas digital print 
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