What to do after maxed out savings account?

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  • badger09
    badger09 Posts: 11,211 Forumite
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    molerat wrote: »
    Can you open multiple BOS accounts at the same time or do you need to leave space between opening ? We have just opened a second one each today but need some more as we have £26.5K of maturing ISAs in the next month to find a home for.

    I opened my first BoS Vantage in December 2012, left it about 6 weeks before opening second, then opened third the following day. During the 6 week gap I used the first account to pay a few bills, made a couple of debit card purchases and didn't just fill it with £5k and move £1k in and out ;).

    Just my cautious nature :o
  • molerat
    molerat Posts: 31,865 Forumite
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    edited 27 April 2015 at 12:53AM
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    Another 2 opened ;) That will home the £20K this week. Now to find somewhere for £6K next month. I might forget this money saving lark and buy a new car !

    Credit cards next on the to do list now my Cap1s are not much use :o
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    jimjames wrote: »
    Do you need the money short term? If not have you looked at S&S ISA instead?

    I have looked at S&S ISA and currently have 10k in Vanguard Lifestrategy 80. I need to find somewhere for 20k but am worried about a possible stock market bubble and the fact that the fund is up around 15% in 6 months.. I could leave the funds for 5 years although would be probably be looking at buying something then.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    chucknorris wrote: »
    What return are you expecting?

    Would be happy with around 3/4% a year
  • guitarman001
    guitarman001 Posts: 1,052 Forumite
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    Aaaargh. So now I have £32k just sitting doing ZERO. My money is slowly coming out of the woodwork and I need somewhere to put it :(

    What about peer-to-peer lending maybe... for a couple £k. But I'm saving £1500 a month or so. So my money is quickly spilling over.

    There are just no alternatives!

    Oh, add £5k in my Hargreaves account that I didn't want to use to add to VLS100acc... shares are too toppy just now. I don't own a home but don't know if I will buy or emigrate - and I still believe home prices will fall. So.... I'm stuck with all this cash and nowhere to put it.
  • jimjames
    jimjames Posts: 17,624 Forumite
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    Olivier811 wrote: »
    I have looked at S&S ISA and currently have 10k in Vanguard Lifestrategy 80. I need to find somewhere for 20k but am worried about a possible stock market bubble and the fact that the fund is up around 15% in 6 months.. I could leave the funds for 5 years although would be probably be looking at buying something then.

    There are stock markets all around the world. Some are up, some are down so if you're worried about peaks you could always put the money into ones that are down.

    But long term, timing the market rarely works.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • guitarman001
    guitarman001 Posts: 1,052 Forumite
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    I think I actually will put mony in P2P. Maybe £5k worth. THat still leaves me with £10's of k.
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