How much can you save?

Lokolo

tinkerbel wrote: »

MiniDanni what happened to the money with the bank and police and whatnot? Hope you're ok. You seem to be saving well and if I recall you are saving to move out?
Like I said before, I'm struggling with my savings right now, only actually really saved £100 since 01/01/10 but hey, every little helps! ooh and just to check, everyone has used their ISA for 2009/2010 yeah? Because you have a few weeks to get one now if you haven't! (Dont know when people tend to get them really but I have always seemed to leave it till about now (ie last minute) but this year I got one in January so yey!

A quick ISA question from me though please.. I opened one last year (for 2008/2009) with Natwest and that was because I didn't really have time to look for a better one. I don't know what to do with it now though!?! Do I leave it there and the rate will be horrible? Sorry!

my 2 others that I have (2009/2010 and 2007/2008 are both "fixed rate accounts" and are both set to 'mature' in 2012 (fixed one at 6% and one at 4% I think)

I have got ISAs all over the place, but this is until I finish uni, then I shall transfer them all together into one so at the moment I am not bothered by rates. But after I would think I will be.

Least you got one fixed at 6%! Pretty good going.

cloud_dog

Lokolo wrote: »

I have got ISAs all over the place, but this is until I finish uni, then I shall transfer them all together into one so at the moment I am not bothered by rates. But after I would think I will be.

Wash your mouth out with soap!!! :money:

tinkerbel

Lokolo wrote: »

I have got ISAs all over the place, but this is until I finish uni, then I shall transfer them all together into one so at the moment I am not bothered by rates. But after I would think I will be.

Least you got one fixed at 6%! Pretty good going.

Thanks, See I finish uni this summer so it is something I have had to start thinking about really!

Should I just leave the natwest one or can I do anything better with it?!

Masomnia

tinkerbel wrote: »

Thanks, See I finish uni this summer so it is something I have had to start thinking about really!

Should I just leave the natwest one or can I do anything better with it?!

I finish uni this summer too. Scary times!

You can almost certainly do better. The rates that allow transfers in aren't too good. I'm thinking of going with halifax at 2.6%, but it only allows 4 withdrawls over the year to get that rate. Hmm.

tara747

Masomnia wrote: »

You're saving really hard and that's great. But your posts about your parents especially got me thinking, maybe it's time for you to 'invest in yourself' and use the money to move out and build an independent life of your own.

If you're happy at home, then that's fine, do whatever makes you happy. But if you're not, and I get the feeling you feel fenced in, maybe you should branch out. There's no point saving if you're not getting anything out of it.

Don't save just for the sake of it, use your money to make your life better, whatever that means.

Just a suggestion, so please take it in the spirit that it's meant.

I suggested exactly the same thing recently, I think it could be a good move for you dannii

tinkerbel wrote: »

Like I said before, I'm struggling with my savings right now, only actually really saved £100 since 01/01/10 but hey, every little helps! ooh and just to check, everyone has used their ISA for 2009/2010 yeah? Because you have a few weeks to get one now if you haven't! (Dont know when people tend to get them really but I have always seemed to leave it till about now (ie last minute) but this year I got one in January so yey!

I always fund my ISA at the start of April, I'm so impatient!! I miss my 6.5% ISA. I transferred all my ISAs into one in April 2009 (Halifax 3% fixed for a year, which was the best on offer at the time, bit rubbish but hey!), and am currently on the lookout for a juicy new ISA for 2010-11!!

The best atm seems to be the Santander ISA at 3.5% (which will go up with the BOE rate - whenever that finally happens, come on Merv!!). Shame it doesn't accept transfers in. I must look for a new ISA which will accept transfers as soon as my Halifax rate drops.

I have the full £5,100 sitting ready to open a new ISA as soon as the new tax year starts!

Masomnia

I'm in exactly the same position Tara I expected rates to be better this year, but apparantly not!

Since I have the 3% Halifax one too I'm thinking of just going with their 2.6% one, you can do it just by going into branch and asking to be transferred or ringing them. Saves a lot of effort. Just have to see whether it's worth bothering opening a new one for the current year somewhere else for new funds. I doubt I'm going to have much to save so it probably won't be worth it, jut have to see!

tara747

I'll defo be going for the 3.5% one for my new funds, I'll have over £20k in my ISAs from April so the extra 0.9% will be worth it!! Wish ISA rates were higher, even if they were 5% I'd be earning £1,000 in interest on my ISA alone. Why oh why do IRs have to be so low??????

My other money is spread across various savings and current a/cs to try to maximise interest. I'm currently earning around £50 (after tax) per month from those! So between that and my current ISA I'll be over £1,000 up this year. Not bad.

minidannii

Masomnia wrote: »

You're saving really hard and that's great. But your posts about your parents especially got me thinking, maybe it's time for you to 'invest in yourself' and use the money to move out and build an independent life of your own.

If you're happy at home, then that's fine, do whatever makes you happy. But if you're not, and I get the feeling you feel fenced in, maybe you should branch out. There's no point saving if you're not getting anything out of it.

Don't save just for the sake of it, use your money to make your life better, whatever that means.

Just a suggestion, so please take it in the spirit that it's meant.

thing is id like a morgage. and thought its impossible to get one with less than 10 percent ?

i dont want to rent as you pay all your life

tara747

minidannii wrote: »

thing is id like a morgage. and thought its impossible to get one with less than 10 percent ?

i dont want to rent as you pay all your life

Eh???????? Who told you that?

I currently rent, but do not intend to do so forever!! What we are suggesting is that you do whatever makes you happy. If you need your freedom/independnce, then look for somewhere else and move out. Share a flat with friends - cheaper and better fun than renting alone! It will take longer to save up your deposit but it will be worth it if you are happy in the meantime. :A

Masomnia

tara747 wrote: »

Eh???????? Who told you that?

I currently rent, but do not intend to do so forever!! What we are suggesting is that you do whatever makes you happy. If you need your freedom/independnce, then look for somewhere else and move out. Share a flat with friends - cheaper and better fun than renting alone! It will take longer to save up your deposit but it will be worth it if you are happy in the meantime. :A

My thoughts exactly!