How much can you save?

Starzy

Hello all:j

Having just payed off my Debt's I'm going to save as much as I can. I'm going to be saving towards a house/flat....

Opened a Lloyds TSB Monthly Saver, opened it with £500 and paying the max amount of £250 a month over 2 year's.

Opened an ICEsave account going to put around £100-200 in that a Month.

And I'm going to try and find a good Mini Cash ISA I'm currently with HSBC and it's pant's :mad:

Good luck to everyone, this Thread made me change my way's alot.

:money: = Legend

moneysavingwannabe

You sound very organised!!

I also have an ISA with HSBC let me know if you find a decent ISA!!

(I really should look myself!! Although won't have anything in it soon!)

:eek:

Madiba_2

Starzy wrote:

And I'm going to try and find a good Mini Cash ISA I'm currently with HSBC and it's pant's :mad:

Good luck to everyone, this Thread made me change my way's alot.

:money: = Legend

National savings and investments (nsandi) do the best cash ISA at the moment. 5.55%, but you cant trasnfer the funds from your previous years into it. Still worth having though if you are starting frm 0 (or 3000)...

Madiba_2

My only savings target it to save more!

I dont really need anything, I have a home and a car, so I'm just trying to maximise my interest. I'm going to wait until the next base rate change before I put money into any bonds, so currently I am doing the typical mix of instant access, tax free and reggy savers. Gonna open a TSB reggy saver tomorrow.

Just got the new AMEX platium card as well, that does cashback, and man is it pretty looking. The lady in Boots today let out a "oooooo" when she saw it. lol

Starzy

Madiba wrote:

National savings and investments (nsandi) do the best cash ISA at the moment. 5.55%, but you cant trasnfer the funds from your previous years into it. Still worth having though if you are starting frm 0 (or 3000)...

Yeah been looking at the NS&I one for a while now, would I just have to close the HSBC one all together, then open one with NS&I once the tax year come's round?.

Guess that's what I would do but it's always nice to make sure.;)

moneysavingwannabe - Good luck with your extension hope you make your target. :beer: ... Sorry about your Boiler breaking, guess that's sod's law:mad: .

moneysavingwannabe

Thanks! I know .. we have a new boiler in a box but can't fit it yet!!:rolleyes:

But it should save us money when it's fitted.

I think if you shut your ISA with HSBC you will lose the years allowance. If you have much in it I would transfer it to a higher paying ISA that will allow transfers - I think alot will??

Then open a new ISA with nsandi?? In april?? That should mean you can still add £3000??

Think I know what I mean

Starzy

moneysavingwannabe wrote:

Thanks! I know .. we have a new boiler in a box but can't fit it yet!!:rolleyes:

But it should save us money when it's fitted.

I think if you shut your ISA with HSBC you will lose the years allowance. If you have much in it I would transfer it to a higher paying ISA that will allow transfers - I think alot will??

Then open a new ISA with nsandi?? In april?? That should mean you can still add £3000??

Think I know what I mean

Ummm so....

I have around £1000 in my HSBC one but the rate is very poor, I may look to transfer that before the tax year and try to raise it to £2000 at least.

Then start my new allowance with NS&I. Hope that's how it work's anyway.:o

Dan29

Starzy wrote:

Ummm so....

I have around £1000 in my HSBC one but the rate is very poor, I may look to transfer that before the tax year and try to raise it to £2000 at least.

Then start my new allowance with NS&I. Hope that's how it work's anyway.:o

You can start your new NS&I one in April.

The HSBC one you can transfer (but not to NS&I as they don't accept transfers, as Madiba said) at any time you like - it doesn't have to be before April. Just don't withdraw the funds as they'll lose their tax-free status if you do.

Phoenix79_2

Madiba wrote:

National savings and investments (nsandi) do the best cash ISA at the moment. 5.55%, but you cant trasnfer the funds from your previous years into it. Still worth having though if you are starting frm 0 (or 3000)...

West Brom BS is 5.60% but its fixed so may not look as attractive if the interest rate goes up

Starzy

Dan29 wrote:

You can start your new NS&I one in April.

The HSBC one you can transfer (but not to NS&I as they don't accept transfers, as Madiba said) at any time you like - it doesn't have to be before April. Just don't withdraw the funds as they'll lose their tax-free status if you do.

Ok so if I transfer my HSBC ISA what happen's to the interest that has already occurred on the account? Does that go with it aswell?

Thanks for the advice mate. :beer: