~Make £10 a Day March 2013 Challenge Thread ~ Everybody most welcome to join

Aesop

fairyclicks wrote: »

£2.56 in from TCB for me today

that takes my total up to £395.01 so far I'm hoping i make it to my £500 per month target this month - will be the first month this year if i do!

Also can i ask what is probably a really daft question......now i am so far down the debt free road i am starting to look at putting an emergency fund together I'm looking at savings options and with Martin advising ISA's i thought i'd look at them. The ones i have checked out have only 2-3% interest rate though and these are the best rates i can find I thought the interest rate on them was high cos of no tax thing so my question is does this 2-3% rate go on top of the tax rate so is actually equivalent to 22%?? (20% tax + 2%) cos otherwise there is a current account with 5% interest which would be better.....as i said thats probably a daft question but i just want to check what i'm doing

best asking here hun

http://forums.moneysavingexpert.com/forumdisplay.php?f=18

FinancialSurrender

Thanks Aesop -just what I need :-)

Natterjack88

Well I managed to sell 10/41 items listed that ended yesterday so not too bad. Also had my double money items in there. 3/8 sold and have doubled my money for all 8 without even selling the others yet
Only managed to do another 18 listings plus the relists so got 49 sat on there at the moment. 25 to go until I've reached my listing allowance so think I might get them listed on thurs on a three day listing to catch up with my others that end on sunday. Now up to just over £150 in my pot so going very slowly but not too far behind. Need two big ebay weekends to hit target I think. Im hoping I'll be able to list more than 100 items soon too!

fairyclicks

Aesop wrote: »

best asking here hun

http://forums.moneysavingexpert.com/forumdisplay.php?f=18

I've been reading through stuff on there the last few days but thought i would ask on here cos you guys are less scary :o lol!

Aesop

fairyclicks wrote: »

I've been reading through stuff on there the last few days but thought i would ask on here cos you guys are less scary :o lol!

They are the best ones to offer advice. Lol

Thought I saw a thread about isa v savings account amy good?

nat21luv

I'm not sure what the amount of tax on savings is but obviously save anywhere that's tax free. What kind of current account is it? Do you have to have X amount of DD set up and a monthly deposit to qualify for 5%? ISAs are pretty safe and I'd recommend saving there if you want a no hassle account and instant withdrawals.

fairyclicks

Aesop wrote: »

They are the best ones to offer advice. Lol

Thought I saw a thread about isa v savings account amy good?

hehehe but i'm a cowardy custard

i saw that post too which says a 2.2% isa rate is equivalent to 2.75% savings, but surely that can't be right - thats rubbish LOL!

Actually i have posted on there now asking why an isa when the rate is so rubbish :rotfl::rotfl: hopefully i will get some idea if anyone actually replies

Aesop

Aesop wrote: »

They are the best ones to offer advice. Lol

Thought I saw a thread about isa v savings account amy good?

fairyclicks wrote: »

I've been reading through stuff on there the last few days but thought i would ask on here cos you guys are less scary :o lol!

http://forums.moneysavingexpert.com/showpost.php?p=60049787&postcount=2

Looks like.depwnding.how much you have to save.an isa is.good.as tax.free.

I am not sure it works out as high.as you have.asked. I think you get your saavings interest tax free at whatever rate you get and that is the only rate.

I wonder if you could tart it in another way? If there is a savings account that pays a high interest monthly and you get the monthly intetedt and then moventhe monthly payt into the isa after you have received interest. Would take a bit of calculatimg.and have to work out if you would acrually be bettee off then.

Aesop

fairyclicks wrote: »

hehehe but i'm a cowardy custard

i saw that post too which says a 2.2% isa rate is equivalent to 2.75% savings, but surely that can't be right - thats rubbish LOL!

Actually i have posted on there now asking why an isa when the rate is so rubbish :rotfl::rotfl: hopefully i will get some idea if anyone actually replies

But you would get taxed on a.savings account so maybe after tax it would resuce to that kevel?

On the bus so cant.xalculate figures.

fairyclicks

nat21luv wrote: »

I'm not sure what the amount of tax on savings is but obviously save anywhere that's tax free. What kind of current account is it? Do you have to have X amount of DD set up and a monthly deposit to qualify for 5%? ISAs are pretty safe and I'd recommend saving there if you want a no hassle account and instant withdrawals.

But sure any account is tax free if earnings are under the threshold aren't they? - its just a case of applying for a rebate on them as far as i know!

The current account with 5% depends on having £750 a month paid in - i would never qualify for it but i get a much higher rate than 5% via zopa. I'm just looking for something with a decent rate with access should i have an emergency so zopa not really the best for that.