Confused by Savings! Help!

bpyoung

Easily enough to pay for a home internet connection. I probably make £500-£1000 per month off a bank roll of £20,000, so that's about 5-10% per month.

However, starting out, you can easily make your first few hundred pounds with as little as £200.

Imelda

lazy&indebt wrote:

The thing is - this is exactly the account I am looking for but what I don't understand is why Martin advises people to use an instant acces ISA first (with non taxable interest of around 5% AER) when you can stick your cash into that barclay's one you have quoted and earn about 7-8% AER? Surely it makes more sense to use this type of account rather than an ISA?

Also bear in mind that ISAs are tax free for life so it makes more sense to use up your tax free allowance every year (but only if you're not going to withdraw it). Also these high rate paying regular saver jobbies are normally only an introductory offer. Defo take a look at Martin's savings article......

(and well done on paying your debt off at that rate you'll be DF soon!)

lazy&indebt

bpyoung wrote:

Easily enough to pay for a home internet connection. I probably make £500-£1000 per month off a bank roll of £20,000, so that's about 5-10% per month.

However, starting out, you can easily make your first few hundred pounds with as little as £200.

That does sound attractive but how easy is it to slip up and loose what you've bet? How long have you been doing it?

bpyoung

lazy&indebt wrote:

That does sound attractive but how easy is it to slip up and loose what you've bet? How long have you been doing it?

I've been doing it for nearly 2 years now. In that time, I've probably made about 2 or 3 mistakes that have cost a significat amount of money (>£50), and quite a lot of smaller ones that have cost the odd fiver here and there by patching up errors.

So long as you take your time, stick with reputable offers and don't try anything fancy, the risks are very small. Read through the threads in the Gambling Intro Offers forum; you won't find anyone who's not easily in profit.