Looking to sort out my finances, need advice.

innovate

Lungboy wrote: »

First Direct 1st, pays no interest but allows access to savings accounts (not really needed this year but maybe in the future)
Nationwide FlexDirect: up to £100 interest plus £70 from Quidco. Is there any point ever having more than £2500 in this account? My current account has almost that in it at the moment, so I can get the max straight away, but could go over the £2500 quickly.
Santander 123 account: 2% on likely initial deposit, 3% after a little while, plus cashback on utilities etc (I don't have any so cashback is useless for me).

Not much point opening an FD account now if you cannot exploit the Reg Saver for some time yet.

On the FlexDirect: you only get the £70 if you actually switch current accounts. Is that what you want to do? Still, even without a switch, it's a nice account for up the £2.5K for a year - - provided you can cycle £1K a month through it.

Sant 123: doesn't sound sensible unless you can pay DDs that yiled at least £2/mth....why can't you have these? There are people who make around a tenner net a month. Have you tried their calculator? http://www.santander-products.co.uk/banking/calculator/123dual.html

Lungboy

I have no utility bills in my name as I'm a carer for my mum and live in her house, so I have no direct debits that would qualify for the cashback.

I'm happy to switch my current account if it's worth it, I currently pay £7 a month for my Barclays Grad account, for which I only really get the phone insurance. Saving the £7 pm plus the £70 from Quidco is quite a chunk over the year just for switching.

Bazofts_Revenge

Are you claiming Carers allowance. You can earn up to about £100 a week and still get it. Until your earning over a certain amount I believe you won't get a First Direct account. £1700 a month would be ok so good luck with that.

Lungboy

I'm not currently getting carer's allowance, although I've had it previously. It doesn't take much of an income to make you ineligible, and I'm still due one more payment from my current job. If the new job doesn't happen then I'll reapply for CA.

Lungboy

Step 1 has been completed, I've transferred my ISA. Now to sort the current account out.

Lungboy

Time to look at my finances again and ask for advice once more. Since my last post, I got the job I was hoping for. Due to that, I've managed to fill up my ISA for this financial year, and I'm now accruing cash in my current account, where it's doing nothing for me really. Have any new options appeared since last summer, or is it still likely that the Flex account for £2500 of my money is the best first option? I still have no real goals for saving, other than trying to build up a nice lump sum for future use.

I'm looking at:
1) Open Flex account with £2500 and cycle £1k per month.
2) Open First Direct account and cycle the minimum per month.
3) Open First Direct regular saver, and drip feed it from the Flex account.

Would this give me my biggest bang for my buck?