Regular Saving Jigsaw Complete

Afahmaep

With the opening of the Leek BS 7.50% RS and the Ipswich 6.90% RS a mere formality in February, I now have a guaranteed continual monthly maturity of funds for the whole of the next 12 months which will hopefully be reinvested at enhanced rates either in the same or hopefully even better products.

[PHP]
DATE NUMBER AMOUNT Building Societies

March 2007 2 £8750 Principality(1&2)
April 2007 2 £9000 Portman ,Principality(3)
May 2007 1 £3000 HSBC
June 2007 1 £12000 Stroud & Swindon
July 2007 2 £6000 Abbey,Ipswich(1)
August 2007 1 £6000 Principality(4)
Sept 2007 3 £9500 Cheshire,Bath,Skipton
Oct 2007 2 £6000 Halifax,Britannia
Nov 2007 6 £10360 Chelsea,Chorley,Derby,Skipton(X)
Monmouthshire,Ipswich(2)
Dec 2007 5 £10400 Abbey, Yorks(1),Leeds,West Brom
Jan 2008 1 £9000 Principality(5),Nationwide
Feb 2008 2 £6000 Leek,Ipswich(3)
No end 3 £16000 Lloyds,Yorks(2),Scarborough
31 £112,010 [/PHP]

Remember only just over half of that is required to service them all.
The figures will change as at the moment only £100 is going into the Monmouthshire but with their increased rate of 6.25% I will endeavour to free up other funds as the maximum per month is £1000.

Afahmaep

Whoops. Put it in the wrong forum. Should be in Savings and Investments

rsykes2000

I've reported it for you, hopefully a kind mod will get it shifted across.

mary

Congratulations. It's been my ambition. Got 8 months covered so far. Unfortunately the offers don't always come along in the month when you are free to open them, or else you wait for the next month, only to find they close before you get there!

Milarky

I've overextended myslef with the opening of so many new accounts and regular savers recently since (in my case) it has to be juggled with repayable lumps of stoozed money - very 'lumpy'. Nothing wrong with regularly putting aside your own money but you can lose sight (as I have) of what's just coming over the horizon and the need to retain sufficient access. My 'radar' picked this up only last week and I have now to eek out my payments to these new acounts - look at maturities on older ones with urgency, divert other discretionary savings and play the credit cards (for extra time) where possible.

(Either all that or 'coyturns' for some of my ISAs!)

Lesson learned!

moneylover

I have quite a few regular savers as children have flown the next and, until retirement in about 3 years time, we are in the very lucky position of saving my salary (not v large!) each month. However we are at the max of what we can save each month in regular savers and havent a huge amount of other savings that it would be sensible to divert. I have been trying to get my brain around this thread. Is it the idea that as one saver comes to an end you put the proceeds in a high paying account such as ICICI and then transfer to an appropriate number of regular savers each month? But this involves moving money twice each month as you cannot have a standing order on a savings account??

Afahmaep

In a nutshell. Yes
My current total payments IN to these Regular Savers has reached £8545
The April payments will be paid for by the maturing March Funds (£8750 plus interest, I estimate about £250 GROSS) and hopefully another product will start to keep the cycle going (maybe 2 or 3) at around £750 per month in total (£9000 per annum).
The plan was to get an even amount going in per month across the year but the Stroud & Swindon offer (7.00% Fixed) was too good an offer not to make the maximum £1000 deposit and like Mary pointed out, these offers come and go with the better ones being withdrawn almost as soon as they are opened.
The loss of interest in cashing the cheques at closure is more than made up by the superior Regular Saver rates and like others have found out with the Halifax for example it can all be done online.

KTF

Thats an impressive list Handy as a guide to who offers what as well but I believe the Lloyds one is was for 2 years rather than unlimited.

Afahmaep

KTF wrote:

Thats an impressive list Handy as a guide to who offers what as well but I believe the Lloyds one is was for 2 years rather than unlimited.

You are correct and likewise the Bath isn't fixed for one year either but carries on. I couldn't think of a suitable description at the time. Should have put '12 months plus'. If you look at the time I originally posted 1.57AM on Monday Morning I recall an empty six pack of Budweiser and something called 'The Superbowl'

oldfella

my approach is slightly different - I fund them out of monthly income, with most of our outgoings being subsidised by 0% on purchases 12 month credit cards.

Mike

Mikeyorks

Afahmaep wrote:

Whoops. Put it in the wrong forum.

You clearly pay greater attention to detail in other areas?;)

Impressive list ... but an awful lot of hard work to get them set up .. and then to maintain the flow.