Student wanting to start saving.

lexilex

I'm currently in my second year at university, and have decided I need to start putting some money aside before I waste it all away.

I have no idea about savings at all, have just tried doing a little bit of reading up but it's going straight over my head.

I am lucky, I'm still living with my parents, and they won't take board money off me. The only outgoings I have reguarly are a £35 phone contract each month. I don't have a part-time job, so the only money I have is student loans, except for when I work each summer full-time June-September.

I won't be putting a huge amount away, I'm planning on dividing my loan up over the weeks it's supposed to last then put anything that's left over from that week away (if that makes sense).

This is going to be 'just-in-case' money. Emergency money really. And if I don't need it, hopefully when I leave university it will be a starting point for a deposit on a house.

SO, after all that rambling on, where am I best putting my money?

Thanks for reading.

withnell

An ING Direct account gives a decent rate with instant access

nzseries1

Hi, your best place to start is Martin's article on savings accounts:
http://www.moneysavingexpert.com/sav...-best-interest