Need help with money

Smithy-2006 · 27 September 2008 at 7:40PM

Hi, my first post on this forum so lets hope i get it right.

I recently started my career, now my wages i earn from my job dont really get spent as work pay for every expense from dinners to my digs.

I popped into my bank on Friday (Natwest) and the young chap said i have quite alot of money in my account for my age and i should open another account with them. I couldnt be bothered arguing so i opened it up. A first reserve account, when i asked he said 1.8% intrest which is rubbish isnt it??

Where would i be best to invest my money? Ive already topped my ISA up for this year

Thanks

opinions4u · 27 September 2008 at 9:42PM

Yes, it's rubbish.

I personally like my Egg internet account (instant access online paying 6.3% fixed for a year) and you can get higher than that at IF (6.4%) and a few options at 6.5%+.

Check out https://www.moneysupermarket.com, or similar price comparison sites for the best rates.

Be prepared to manage you account online (usually) for the best rate.

Be prepared to review if it's the right account every 6-12 months too. Most providers will hook you in with a great rate and then sneak it down if you let them.

Regular Saver accounts all over the place can pay good rates. The Halifax one at 7% doesn't require you to bank with them.