How much can you save?

chelseablue

derrekmay wrote: »

hello,

I'm a bit curious what you guys are going to do with the money you have saved?
Are you guys going to invest it somewhere? Or just put it in the bank?

Im going to buy a house with mine (well deposit anyway!)

derrekmay

And where do you put your money?
Jut in a bank or do you also invest some of it in order to gain higher profits?

zag2me

ISA's first, then a few stocks and shares investments, property deposit, and any left over goes into my websaver account. Its best to spread your money around if you save enough of it.

djbd1973

I'm similar to zag2me in that I put it in ISA's first (cash and stocks and shares), then high interest savings and a few other investments.

I also move money around chasing the best rates.

This is outside of payments that automatically go to pensions, an endowment etc

save-a-lot

ISA's and fixed rate bonds at the moment. The ultimate aim is to clear the mortgage early.

derrekmay

I'm also planning to take a little bit of the profits that have been made to diversify my portfolio.
But first I want to let it grow on my mannaged account.
What was the saying again: never change a winning team?:D

spaneshal

Thanks all for the warm welcome. I did consider having the full overdraft and stoozing on it, but I feel a bit like I am cheating making money from it? I certainly will look into it, I did have one at 0% but I just never used it.

As for accounts I go for rates all the way. Top up the ISA, then the regular saver then just a current account for wage incomes etc. Cant wait for the new tax year to start in april and begin my ISA contributions again.

dsavin

Hello everyone,

This looks like a fun thread, currently at £2000 with a joint target of £16,000

Overall we have £7000

Looking forward to seeing how this goes!

Dave

p.s question - any reccomendations for a new isa account for the new coming financial year?

djbd1973

dsavin wrote: »

Hello everyone,

This looks like a fun thread, currently at £2000 with a joint target of £16,000

Overall we have £7000

Looking forward to seeing how this goes!

Dave

p.s question - any reccomendations for a new isa account for the new coming financial year?

Good luck with hitting your targets Dave.

Regarding next years ISA's we still have quite a bit of time to go yet, and normally nearer the start date, all the institutes start to put their best foot forward with their deals and rates when they want to win our custom.

Give it a quite a few more weeks and then people will start recommending best ISAs' in the ISA part of this forum.

Cheers

dsavin

djbd1973 wrote: »

Good luck with hitting your targets Dave.

Regarding next years ISA's we still have quite a bit of time to go yet, and normally nearer the start date, all the institutes start to put their best foot forward with their deals and rates when they want to win our custom.

Give it a quite a few more weeks and then people will start recommending best ISAs' in the ISA part of this forum.

Cheers

Many thanks for the reply, i know this thread is purely about how much people are saving so im not going to go off topic too much... however i do have one question.

When carrying over my £3000 from this years ISA - say if over next year i save all £3750. This will leave me a total of £6750 from the two years. Will i gain interest on all of that or will it just be what i put in that current year. I suppose that constitutes me asking if i can actually carry over what i already have as a ballance this year or can the ISA account only contain what is being put in that year?

Sorry if that didnt make too much sence, its difficult for me to explain.

VMT - Dave