📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Where to save

Me and my partner have just got through a rough patch in our relationship which nearly resulted in myself moving out and I had to give up my dog as well to work on it.

Anyway we've talked and decided we do love each other so have set about getting out finances in check. We're going to pay about £400 out each month to pay off debts, that includes over payments, we're really lucky to only have a £388 mortgage. SO we have worked out that we should put £200 a month away in savings. Yes I realise debt should be paid off however if our boiler broke down or he broke the bath again or the car broke or the kitchen broke we'd have nothing to repair this all with. So for a year, put away enough for emergencies. We'd still be out of debt before the year is up anyway so :)

Rambling sorry! Where do I put this £200 each month? Incurring interest isn't really an issue for us at the moment. We both have an account with HSBC each and then another seperate account each with different banks. Recently opened a joint Halifax to put money in after paying bills. So not sure where to go to. We'd like it to be a joint savings
Money money money.

Debt
Dec 2016: [STRIKE]£25,158.71[/STRIKE] £21,999.99

#28 Pay off debt in 2017 £3803.55

Comments

  • Fedz
    Fedz Posts: 1,096 Forumite
    Personally I wouldn't save with who I bank with just in case of worst case scenario :wink:

    Pick a fixed rate, regular savings or if you don't have one already an ISA.

    I'm no expert but, that'd be my move :D

    I understand not putting all your spare cash into paying debts and wishing to save some, I'd do the same despite what others say :wink:
    Proudly Banking & Saving With:
    The Co-operative Bank.
    Castle & Minster Credit Union.
    Yorkshire Building Society.
  • halight
    halight Posts: 3,629 Forumite
    Part of the Furniture Combo Breaker
    Hi bradford and bingley look like thay have some good accounts.

    take a look at there web site.

    hope this helps
    good luck with your debts and your relashionship and your savings plan
    all the best
    :jYou can have everything you wont in lfe, If you only help enough other people to get what they wont.:j
  • cos_2
    cos_2 Posts: 624 Forumite
    Part of the Furniture Combo Breaker
    He broke the bath? :huh:
  • bobmo_2
    bobmo_2 Posts: 12 Forumite
    Regular Saver at HSBC is worth a look. 8% interest it you pay £1500+ a month into your current account. The limit is £250 a month but you get screwed if you withdraw.
  • abby1234519
    abby1234519 Posts: 1,961 Forumite
    cos wrote: »
    He broke the bath? :huh:
    He stood on the plug hole and it developed a circular crack around it and the water decided that was a better way to escape
    Money money money.

    Debt
    Dec 2016: [STRIKE]£25,158.71[/STRIKE] £21,999.99

    #28 Pay off debt in 2017 £3803.55
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.4K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.4K Work, Benefits & Business
  • 599.7K Mortgages, Homes & Bills
  • 177.2K Life & Family
  • 258K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.