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Saving accounts for piggy banking
JOHH
Posts: 2 Newbie
Hello,
I'm mid PGCE, I finish my teacher training on June 30th.
I've got £2700 at the moment and another £1930 coming at the end of the month. This is mainly student loan but I'm lucky enough to have some bursary too.
I'm spending roughly £1000 / mth with travel and rent.
I like Martin's technique of piggy banking money - opening a savings account and transferring necessary money only so I don't feel as if I've got loads to spend (disasterous consequences when you feel you've got over £1000 in your account!!
I've got a SMILE account - not many banks recognise my student status as it's only a one year course. I've got a £2000 interest free overdraft. Again Martin would say put it all in a savings account and live as close to -£2000 as possible. Is anyone doing this? I guess I'd just have to check my balance regularly and make sure I didn't slip below -£1500.
Can I have some advice on which type of savings account to use? I have a mini cash ISA with LLoyds and I could use this? Would I be able to direct debit money out of this?
I'll be grateful for any advice
Thanks
I'm mid PGCE, I finish my teacher training on June 30th.
I've got £2700 at the moment and another £1930 coming at the end of the month. This is mainly student loan but I'm lucky enough to have some bursary too.
I'm spending roughly £1000 / mth with travel and rent.
I like Martin's technique of piggy banking money - opening a savings account and transferring necessary money only so I don't feel as if I've got loads to spend (disasterous consequences when you feel you've got over £1000 in your account!!
I've got a SMILE account - not many banks recognise my student status as it's only a one year course. I've got a £2000 interest free overdraft. Again Martin would say put it all in a savings account and live as close to -£2000 as possible. Is anyone doing this? I guess I'd just have to check my balance regularly and make sure I didn't slip below -£1500.
Can I have some advice on which type of savings account to use? I have a mini cash ISA with LLoyds and I could use this? Would I be able to direct debit money out of this?
I'll be grateful for any advice
Thanks
0
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