Where to put my money

rincelex

I save £40 for christmas so its drawn out at around November/December each year and then started again in January. I also have another account (an ISA) so as to keep the money seperate where I pay £100 a month to cover things like holidays, car insurance, car tax. Sometimes this account can have as much as £1000 in but most of the time its a few hundred.

What I don't know is where to put the money to earn the best interest, anybody suggest anything.

Mickygg

Assuming you are a tax payer you are already doing the best thing - using an ISA allowance.

On smalller amounts such as £1,000 at any one time you are never going to earn lots of interest, especially in these current economy times.

rincelex

Thank you that is what I thought, I will have a look round and see if there are any instant access savings accounts paying more interest than the one I have my money in though. Its the hassle of changing the accounts that I find annoying, no-one can ever see you there and then you have to make an appointment and then when you do go in they try and chat to you about your finances in general with the 'lets see if we can get you a better deal' line. grrrrrrr

Lynn11

I opened a regular saver account with abbey in October to save for christmas and you get 5% I think if you keep in the money for a year and have regular standing order set up. So this october I will close this account and use the money for christmas and anything left over will go into savings and start another regular saver if there are any reasonable rates.

rincelex

yes the guy at the bank said they had one that paid just under 4% but I had to leave the money there for 12 months which meant that we wouldn't have it for Christmas