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17k Savings, Where's the best place to stick it?
Driving_Soon
Posts: 338 Forumite
Hey
I am a Student and I have 17k savings.
I have little income at the moment, so really am living off my interest from my savings and my little part time jobs.
With the interest rates being cut AGAIN, my interest is getting less and less each month, So I really want to make sure that my money is in the best place possible, and earning as much as possible!
At the moment My money is split between Barclays Reward Online Savings Account + Barclays ISA.
I don't mind locking 10k away for a year or so, but I don't really want to lock away the full total just incase, I would love Online accsess, but it's not vital
If anyone can advise me what you would do if you was in my position then I would be very greatful!
Many Thanks.
I am a Student and I have 17k savings.
I have little income at the moment, so really am living off my interest from my savings and my little part time jobs.
With the interest rates being cut AGAIN, my interest is getting less and less each month, So I really want to make sure that my money is in the best place possible, and earning as much as possible!
At the moment My money is split between Barclays Reward Online Savings Account + Barclays ISA.
I don't mind locking 10k away for a year or so, but I don't really want to lock away the full total just incase, I would love Online accsess, but it's not vital
If anyone can advise me what you would do if you was in my position then I would be very greatful!
Many Thanks.
0
Comments
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how much have you got in each one and have you used your isa allowance for this year?0
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Barclays ISA requires Barclays current account for online access, it sucks. I have no idea how much I have in my ISA at the moment lol.
But I imagine the rate will drop in a bit after base rate cut.
Also student loan rate is going down because of the cut. Check out the student bit0 -
Where's the best place to stick it?
where the sun don't shine ? :-) pays nearly the same interest as a current account now, and probably safer...0 -
except the gold price is down 20% from its high...0
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A fairly serious answer:
Under the mattress:
a. You know where it is.
b. The interest rate isn't much below what you would get in a bank.
c. Gordon Brown can't get hold of it and give it to some hard-up banker (Ooops, nearly did a typo on that last word !)0 -
i have a similar amount put to one side.
i bank with lloyds and egg (just for isa), and have just transferred cash from my online saver as the rate has dropped to pathetic levels. instead i have opened an esaver which with the help of introductory 1.5% bonus for 12 months means i continue to get pretty much what i was getting before the rate cuts this week.
for now that will have to do.:grouphug:
no wonder he has a smile on his face...0 -
ps, with the 17k - as long as you max out this years cash isa, and the next one. the rest may as well go into any savings account with introductory bonus like the esaver, and just be thankful you have it, no dwelling on the %'s too much.
try to avoid any which restrict your access, u never know what going to happen and when u may need it.:grouphug:
no wonder he has a smile on his face...0 -
i scrapped that plan on realising i can get 4.5% with egg saver at the mo...:grouphug:
no wonder he has a smile on his face...0 -
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