Does anyone Multi Account

J_i_m

Well if it works for you then great.

I imagine it helps to have fairly generous income to help that along.

My income is modest... which makes it harder to meet the conditions to receive these incentives and rewards.

Hence why for me it's more effective to simply budget better.

YorkshireBoy

J_i_m wrote: »

People would do as well to look inwards and simply budget more effectively.

I would imagine people who are financially savvy enough exploit these deals are already managing their budgets effectively. I know I am.

I wonder if your opinion on this 'faffing' would be the same if your income was more than "modest", or you were planning your retirement/in retirement and maximising the return on your capital?

Archi_Bald

J_i_m wrote: »

My income is modest...

Seems your modest income lets you live quite comfortably, otherwise you wouldn't be turning down extra money.

Hooloovoo

Archi_Bald wrote: »

Seems your modest income lets you live quite comfortably, otherwise you wouldn't be turning down extra money.

In his 30s and living with his parents ...

Maybe if he didn't turn down free money he would be in a better position to get his own place.

eproctophilia

Hi

Someone said N&P do free atm withdrawals abroad and on purchases. N&P = ?

Sounds better than the halifax clarity card

ColdIron

J_i_m wrote: »

I imagine it helps to have fairly generous income to help that along.

My income is modest... which makes it harder to meet the conditions to receive these incentives and rewards

It's quite easy to meet the conditions of most accounts even with no income at all as it only has to involve cycling the same cash around once a month. There is no reason you can't budget effectively and take advantage of what these accounts offer, this is MSE after all

J_i_m

Hooloovoo wrote: »

In his 30s and living with his parents ...

Maybe if he didn't turn down free money he would be in a better position to get his own place.

Well.. lets look at it this way.

It may be possible to make perhaps a fiver here and there with some "toing and froing" between bank accounts. Ultimately it's not going to accelerate my buying a property of my own, at least not significantly.

My decision to live with my parents (regardless of how you choose to look at it) removed a significant portion of my outgoings and provided me the conditions to save useful amounts of money to put towards a deposit on a property.

By managing multiple current accounts I might be able to make a few tens of pounds. By currently living with a parent I can save hundreds a month.

I know which one of those makes more.. and I know which I prioritise.

Hooloovoo

J_i_m wrote: »

By managing multiple current accounts I might be able to make a few tens of pounds.

I can assure you, by exploiting bank offers myself and many others here have made much more than "a few tens of pounds".

By currently living with a parent I can save hundreds a month. I know which one of those makes more.. and I know which I prioritise.

Or, you could look at it this way. In the time you save by not having to deal with your own gas, electric, and other utility bills, you could use those few minutes to make an extra few hundred pounds a year.

You know, I have to say, it appears to me that people of the personality type who "can't be bothered" claiming a few hundred pounds of free money for a few minutes of effort per month goes a long way to explaining why these people only ever have "moderate" incomes too.

badger09

J_i_m wrote: »

Well.. lets look at it this way.

By managing multiple current accounts I might be able to make a few tens of pounds. By currently living with a parent I can save hundreds a month.

I know which one of those makes more.. and I know which I prioritise.

Why not do both? They are not mutually exclusive

J_i_m

Hooloovoo wrote: »

You know, I have to say, it appears to me that people of the personality type who "can't be bothered" claiming a few hundred pounds of free money for a few minutes of effort per month goes a long way to explaining why these people only ever have "moderate" incomes too.

Which makes the personality type to cast judgement on other people's personalities infinitely more admirable I'm sure.

You may not agree with my choices, you might even have a slightly prejudiced or snobbish view on them (that's your choice).

But I've made my choices based on my personal situation, preferences and the information available to me.

I don't want to be constantly switching bank accounts, I don't want to have my money ping ponging between multiple current accounts in order to perhaps make £5 a month on one or two of them.

The way I have arranged my life sees to it that I save hundreds per month, which I service an ISA and regular saver with. This arrangement suits me. It is relatively hassle free, it's flexible and it's effective.