Advice on moving money around!

Natti_A

Hi,

I am looking for some advice about where to keep my money for few months....

I have £1450 saved in Halifax's 10% Reg Saver account, that is due to finish at the end of June 2009. I have 2 more payments to put in, which will take the total (minus interest) to £1850. The course itself is very slightly more, and i can make up small amounts of money along the way.

This money is being used to fund a masters course, the approx payments are as follows:

Sept 09 - £250
Oct 09- £300
Dec 09 - £300
Feb 10 - £550
Apr 10 - £300

My question is what should i do with this money for the few months inbetween!?

I have a 5% account fixed only until November, this has limited withdrawls so i thought i should put approx £1000 into this. But i may have to make more withdrawls than allowed which makes the rate plummet (this account was originally opened to pay for my car tax/insurance/mot/servicing = 4 withdrawls which is the max).

I was then planning to put the £850 into my 2.75% ING account so i can access this relatively easily, with a good rate.

Is my plan good? Or should i be looking at a short term fixed rate bond? My finances are very limited, so i cant really afford to keep a proportion of the money in a 1yr fixed rate bond.

I'm desperately trying to be savvy with my money! I have split the payments as it cost me no more to do this, but now the interest rates are pretty low, i think i may have just caused myself more hassle!

Sorry for waffling. Any advice is much appreciated!

G_M

Sept 09 - £250
Oct 09- £300
Dec 09 - £300
Feb 10 - £550
Apr 10 - £300

Excellent value for a Masters! Best of luck with the studies.
If your 5% account allows further deposits I'd stick it in there. Between now and Nov (when the 5% rate ends) you only need make 2 withdrawals for your course, which is allowable. If you need extra funds, coordinate the withdrawals with these 2.

Natti_A

Thanks for the reply.

Its a 3 year long distance course, works out at £5000 in total which isnt bad considering i should get a couple of pay rises in that time.

I dont earn an awful lot, as i only graduated last summer, just need to know that my plan isnt flawed! Or that i'm missing something obvious