Savings Help Needed for Young Saver

McAloon

Hi there, Im just new to the forum and was just wonbdering if I could have some help, over the past 3-4 months my mam and dad decided that as I was 18 and about to go off to Uni it was time I dealt with my own savings.

So the first thing I did in July was open up a 10% Regular Saver Account with Halifax which allows me to pay any sum of money between £25 and £500 into it a month. And so for the first 4 months I have paid £150, £350, £500, £500. Also I have opened up the Bradford and Bingley 6.51% easy access account where I hold my other savings which at the moment is about £2250. I also have a Natwest Student Current Account where my wages from my part time job go into.

And so I was wondering whether I would be better off continuing to pay £500 into my Halifax for another 4 months and then paying smaller sums of £25 into it, OR whether it would be best to just pay £25 into the Halifax for each of the next 8 months and just keep the bulk of the money in the Bradford & Bingley account. I have read the regular saver account pages on the mainsite but I'm still unsure, so I would be grateful for your help.

Thanks

opinions4u

Assuming you don't need access to it, pile in to the 10% account! Sounds like you're off to a good start.

McAloon

Thank you very much for your help, I'l continue to put money in my 10% account then