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Savings help needed pls!
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physioflip
Posts: 2 Newbie
I am a newbie to this site so hope I am posting in the right place!
I have recently got engaged and want to start putting a regular monthly part of my salary into a savings account to pay for the wedding (in 18 months time). However, I do not want to be penalised for withdrawing money as I will need to pay deposits for caterers, band, etc over the course of the next 12 months. I am new to this saving concept (!) and so would really appreciate some advice as to whether to stick to a regular current account and forfeit any interest benefits or take another approach. Any experienced savers out there got any advice/suggestions please?! Thank you!
I have recently got engaged and want to start putting a regular monthly part of my salary into a savings account to pay for the wedding (in 18 months time). However, I do not want to be penalised for withdrawing money as I will need to pay deposits for caterers, band, etc over the course of the next 12 months. I am new to this saving concept (!) and so would really appreciate some advice as to whether to stick to a regular current account and forfeit any interest benefits or take another approach. Any experienced savers out there got any advice/suggestions please?! Thank you!
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Comments
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Is the primary objective to put money away or to get some sort of return over this time?
If you are not worried about interest then have you thought about just opening an instant access savings with the bank you currently hold most accounts with?0 -
I guess the primary objective is to put money away but if I could gain some benefit whilst it's sitting in the account accumulating, then all the better! Given what you've suggested I think I will look into an instant access account. Thanks again for the reply0
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I have an internet account with Yorkshire BS; you can pay money in by transfer or debit card. There is a cashcard option, or you can transfer out by BACS.
http://www.ybs.co.uk/savings/online/internetsaver/index.htmlRIP independent MSE.
Died 1st June 20120
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