A thread for serious savers.

Sapphire

paul5046 wrote: »

What will it be like in 12 months time. Any good fixed rate savings offers will have expired. Where then to put your money ?

Don't forget the Bradford & Bingley FR bond, which is being withdrawn this Wednesday (6.70%). You can still open one up to and including Wednesday.

Euxinis

try some fixed income instruments abroad. there could be offers much more higher than 10%

innovate

Any of you been over to the GIOL board (http://forums.moneysavingexpert.com/forumdisplay.html?f=41)?

Start with the STEP ONE sticky (http://forums.moneysavingexpert.com/showthread.html?t=325861)
READ ALL OF IT, DON'T RUSH IN HEAD OVER HEELS

I have not tracked my "AER" from this precisely in recent months (because I have mostly exhausted the offers now) , but when I still did track it, it was in excess of 14% (net). Because of the general downturn, it might be a little bit less now but there is still plenty of money to make if you are prepared to invest a bit of your time. It's a darned side less risky than any savings or investments, too!

Aegis

Euxinis wrote: »

try some fixed income instruments abroad. there could be offers much more higher than 10%

Of course, unless the instruments are trading at par value or below, you won't get the actual coupon as a return yield. Oh, and your capital is at risk of eroding, meaning that while you'll get a fixed yield throughout the term you may trade it away at sub-par value due to necessity, or you might only get the par value back on the redemption date having paid above par for the instrument. Add in to all this the extra risk of it being for a foreign country and you bring in currency fluctuation as an issue as well, meaning your final value is anyone's guess.

All in all, an investment product rather than a savings one, so probably not suitable for those looking for cash savings.

Sugarnspice

I am in uergent need of some help. I have 2 young children with traditional young savers account. However, due to the current climate i want to change their accounts to replicate something like a trust fund - i don't want to be tempted to touch their money and don't want them to have acceess to it untill their 16 or 18. Could you advise who are the best providers for something like this - not so concerned with what interest rates are earned.

DocProc

Sugarnspice

There's a good site at http://www.childtrustfund.gov.uk/

Hope that helps.