FinancialBliss: My hurty to thirty savings diary…

financialbliss

Can’t believe we’re over half way through February without me posting a single entry here. Combination of being busy at work, a few nights out and lately, feeling a bit off! Just checked and diary was on page 21!

But when I have been up to it, I’ve been chipping away at current accounts and credit card receipts and pleased to say I’m completely up to date. Use Microsoft Money and find it invaluable to help manage money. Receipts entered and current account transactions entered and balanced against statements and month to date transactions.

On to savings…

Nationwide FlexDirect Jt. Now happy with our joint account. Previously requested for partial tax status and due to taking a while to switched from taxed to partially taxed, we paid 12p in tax at the end of February when the interest was applied. The status has now been reverted to partial tax and the 12p refunded. Got credit cards to pay in the next few days, so I’ll be raiding some funds from this account and then topping up later as I get paid.

Santander 123. Decided to try and maximise the FlexDirect Jt at the expense of the Santander to receive 4.40% (FlexDirect) instead of the lower Santander rate, so this account balance is running quite low. Once paid, credit card bills for the month cleared and the First Direct regular savers funded, going to see how much I can plough back into the FlexDirect, but would like to leave this balance about £1,000 if I can so that the balance actually starts gaining interest.

Not expecting to open any new accounts this month or next – next new account will probably be a Nationwide Flexi upgrade to Flex Direct – which is one of my old dormant Flex accounts. This will be fully taxed, so 4.89% less tax giving 3.91%

All this talk about savings and switching accounts got my son interested. He started asking about savings accounts and as a result I booked an appointment at Halifax and son and daughter now have a 6% child regular saver each now so supplement their young saver accounts at at 3%!

Weather. Certainly been in the news of late. Managed to find myself cycling home in a snow shower this week, plus Wednesday morning was rather icy, so switched to the bus that day. Other than the odd bus day, the weather has been relatively mild this winter and I’ll continue to cycle while there is no ice or snow.

Those of you with children will appreciate it is half term this week. I’m only in work on Monday and Tuesday. Depending on weather, aim to plan a day out with the kids on Wednesday, while Mrs Bliss and I are away on Thursday and Friday. We’re treating ourselves to a little time away in a grade one listed hotel with swimming pool and spa etc. Thought why not, we deserve it. Costing £109 and this includes one night in room with a four poster bed (we upgraded ), breakfast, plus a 30 minute spa treatments each / use of the swimming pool etc. Does get a good write up on trip adviser.

Savings accounts edited in my savings goal spreadsheet - see post #2 for the link. Currently earning a net rate of 4.52% across all accounts.

Thanks for reading,
FB

fishfins

Hi FB, I've just enjoyed catching up on your diary after you posted on mine, what organisation! You've made me feel very disorganised but you've also given me something to aspire to! Looks like you're doing great on your target so far, I'll be following with interest (no pun intended)

FF

norfolkdream

That hotel sounds lovely, hope you had a great time.

You definitely are more organised than most of us put together!

abouttimetoo

Hi FB, hope you're well?

Saw a couple of press articles last week about a new account the T$B is supposedly planning, not sure if you caught them as they may be of interest to you?

Details are

• The Plus account
• 5% interest on £2k
• no end date e.g the NW flex was only for 12 months
• £500 pm month funding requirement
• no requirement for DD's etc
• no requirement to switch
• Apparently planning to let people have two each
• launch at the end of March

Regards
ATT

financialbliss

Hi ATT. I’m good. Busy. Stupidly busy. As we approach tax year end, there’s lots of loose ends to tie up, year end procedures to work through etc. and it’s been keeping me busy. I’ve not even posted anything to this little diary in March yet.

TSB – yes was aware of that. There was a press release on 12th March:
http://www.abouttsb.co.uk/press_and_media/news_releases/12_03_2014_5_per_cent_interest_from_the_bank_acount_thats_not_like_other_bank_accounts.html

Yes, I’m also interested. Taking interest rates and aiming for the best rates on a decreasing scale, my next account I had earmarked was previously a Nationwide Flex to FlexDirect conversion. My own account, sitting dormant right now. Would get 4.89% minus tax, so 3.91%, and the TSB Plus, when taxed also comes out at 3.91% but the big plus (sorry ) for the TSB account is that it’s not restricted to interest for just the first twelve months, so I’m going to fill those up first. The next four accounts on my radar are now:

• Mrs Bliss - TSB Plus #1 - no tax (4.89%)
• Mrs Bliss - TSB Plus #2 - no tax (4.89%)
• Me - TSB Plus #1 - taxed (3.91%)
• Me - TSB Plus #2 - taxed (3.91%)

Makes sense to fill up the higher rate accounts first, and that’s probably going to see me OK for a while, as I’ll only have around £250 “spare” come the end of the month. Plan on opening all four on Sunday 30th March though - with the rate not expiring (although it's variable), so they are immediately available for use...

Once again, thanks for the heads up.

FB