How much can you save?

gelato_cat

Ohhhhh... blonde moment over. You're talking about the kiddies' one innit? Unfortunately I don't have any of them!!! :cool:

Suze

Suzey wrote:

I've seen someone else post about a 10% Halifax Regular Saver - could you tell me where I can find more info on this please? I have a 7% one already but can't find anything on the 10% one anywhere.

cheers

Suze

System

Hi Suzey, the Regular Saver paying 10% is this one.

Quoted from the MSE Savings and Investment section:

· 10% regular saver. Halifax’s Children’s Regular Saver pays 10% gross interest fixed for a year, however you can only deposit £10-£100 per month. Any adult can open this in trust for any given child i.e. if Mum, Dad, Uncle Jack, Aunty Jill or even Dave from down the pub so little David can have 5 of these 10% paying accounts.

gelato_cat

Good question.

I've a few years' ISA allowances in a Halifax mini cash at 5.25% (thinking of transferring out - need to do some research. Any recommendations?). This year I'm saving with NS&I at 5.55%. That's maxed out so no more is going into it just yet.

Most of my money is with Icesave (I've ditched ING). I haven't really added anything to my initial deposit as I'm still getting used to my new cash flow patterns with the new job etc. I'm putting any spare cash into my BoS IASA (5.25%) as opposed to Icesave so I can make instant transfers to my current account in case I need to pay a bill quickly or something.

I've got regular savers with Lloyds (8%), Halifax (7%) and Alliance and Leicester (12%) and put £250/month into each of them. So my base savings are £750/month plus whatever else I can throw into the pot.

I've thought about fixed-term bonds, but I'm worried about being stuck with a not-so-good return if BoE rates go up - and I've no idea when I'll be moving to Canada (could be next year, could be in two years) so I like to know I can get hold of my money quickly!

Suze

save-a-lot wrote:

Hi

I am interested to know where people save into, for me it is

West Brom 1 year fixed bond (I think at 5.64 gross)
Birmingham Midshires high interest account (I think paying 5.25% gross)
£3K in NS&I Direct ISA 5.55%
£75/month SAYE scheme (almost matured and on target for being worth £10K :T )
£40/month into daughters Halifax Save 4 it account (plus al my spare change into her piggy bank).
whatever is left over from salary goes into linked NatWest savings account until there is enough to shift across into an ING account (I know that is not the best place)

moneysavingwannabe

Judi wrote:

Hi Suzey, the Regular Saver paying 10% is this one.

Quoted from the MSE Savings and Investment section:

Hi,

I was thinking of opening a savings account for my Nephew, he is 6 months old (thought he should start young!) This account seems to go to a lower interest rate after a year when you have to transfer the money out. Is this the best option at the moment?

Thanks

save-a-lot

moneysavingwannabe wrote:

Hi,

I was thinking of opening a savings account for my Nephew, he is 6 months old (thought he should start young!) This account seems to go to a lower interest rate after a year when you have to transfer the money out. Is this the best option at the moment?

Thanks

Once the end of the first year of saving into the regular saver if you nominate to have the money transferred into the Halifax Save4it account (5.3%), be aware that save4it account has a ceiling of £5000, once the account reaches this amount you cannot pay any more in. Our little girl has a Save4it account since she was about 6 months too, she is now just gone 3 and we will max out her account out this year easily. We will have to look again, but I do not mind that, we can forget about the save4it account then until she is 18. I think it is a good bet to go with that.

moneysavingwannabe

Hi Save a lot

Thanks, I don't really have time to shop about at the moment and would like to open it in time for his Christening this month. Thanks again.

zag2me

Added another £100 to my wages account today (Not drinking all month, I'm amazed how much I have not spent!)

Also looking into the possibility of Buy To Letting my flat and moving in with some friends instead.

steady__eddie

£100 for the month through not drinking, well done. Is it over 3 quid a pint down the South East then ?

zag2me

haha 100 quid, not counting the other 300 a month i spend going raving I paid the rest off my student loan this month. I will grow up one day

Counting down the days to feb for :beer:

Edit: yeh its around 3.50 a pint/can in most clubs these days down here.

save-a-lot

save-a-lot wrote:

I am interested to know where people save into, for me it is
West Brom 1 year fixed bond (I think at 5.64 gross)
Birmingham Midshires high interest account (I think paying 5.25% gross)
£3K in NS&I Direct ISA 5.55%

edit:
[STRIKE]£3K in NS&I Direct ISA 5.55%[/STRIKE]
£3K in NS&I Direct ISA 5.80% :money:

fantastic! BoE quarter percent rise has given my savings a boost already :T