Wedding fund savings advice

mazziem

Hi all.

I have £5500 saved for my wedding which isn't until 22/02/15. It is to the pay the venue so I may aswell put in a savings or isa.

Can anyone give advice on which is the best way to save.

I have found most places to be pretty poor rates for isa & savings.

I do have a Santander 123 account which is 3% on balances over £3000 but the extra I will get I'm likely to spend more as it's in my account if that makes sense.

Look forward to your advice xxx

le_loup

If you really want to become a Money Savings Expert, don't spend such silly sums on a wedding venue.

typistretired

You should open a flexdirect account with Nationwide which pays 5% up to a limit of £2,500. (You can have 4) Then open their flexclusive isa issue 5 cash paying 2% until 31st December 2014. You could open another isa with them come April to continue adding your savings. Tesco bank also has an easy access isa paying 2%.

patientperson

typistretired wrote: »

You should open a flexdirect account with Nationwide which pays 5% up to a limit of £2,500. (You can have 4)

4 accounts could be interesting. I had better read up on the T&C with regard to operating levels and number of mandatory DD or STO.

innovate

patientperson wrote: »

4 accounts could be interesting. I had better read up on the T&C with regard to operating levels and number of mandatory DD or STO.

There are no mandatory DDs or SOs, and there is no guarantee you will get 5% on more than one account (though to date, several people have reported they do get it for all their accounts). Only mandatory per-req is £1K monthly deposit. As has been mentioned plenty of times on the MSE forum, and I have just added plenty + 1.

Masomnia

le_loup wrote: »

If you really want to become a Money Savings Expert, don't spend such silly sums on a wedding venue.

We all have different priorities. The point of being MSE to me is that you have more to spend on what you really want if you're wasting less on things you don't. It isn't a silly sum if it's the venue they really want.

mazziem

le_loup wrote: »

If you really want to become a Money Savings Expert, don't spend such silly sums on a wedding venue.

Just because I'm spending that doesn't mean I can't ask advice on my savings. Being on mse doesn't meant you have to be a tight wad. It's my wedding and I shall spend my money how I see fit!

Anyhow thanks to the lovely people who replied. I think il open a tesco one just as looking at the nationwide flex you have to pay in £1000 a month, which would mean re transferring money to other accounts and could become over complicated.

Thanks though- I really appreciate it

Mazzie xx