What to do with £4000?

biggysnax

Hi,

I'm sorry but i'm in the fortunate position of finding myself with £4000 that wasn't expecting and now i'm wondering where to put it. My wife and I are wanting to buy a house in the next 3 or 4 years and wondered what advice people had for where I should put the money (it's currently under my mattress*)

Thanks,

Mike

*not really under my mattress!

Eco_Miser

BOS, Lloyds, TSB pay 3% on up to £5000 per account, or split £2500 in Nationwide Flexdirect and the rest in Yorkshire/Clydesdale bank for 5%/4% for a year. Move £1000 in & out each month.

oldtoolie

There's a great website called Money Saving Expert. They have a whole page on options for savers and best savings accounts.

Archergirl

I think Nationwide has a savings account that helps you get a mortgage later on.

biggysnax

oldtoolie wrote: »

There's a great website called Money Saving Expert. They have a whole page on options for savers and best savings accounts.

It does have its drawbacks such as cocky forum users who purely go around putting useless comments on people's post because they don't have anything better to do. I guess your name suits, you old tool!!

bigadaj

biggysnax wrote: »

It does have its drawbacks such as cocky forum users who purely go around putting useless comments on people's post because they don't have anything better to do. I guess your name suits, you old tool!!

Not very pleasant for a newbie, the advice is be nice and that applies to you you as well.

You might say that comment was uncalled for and the poster didn't need to respond, but there are lists of accounts and if you check back though this forum the question " what can I do with £x" has been asked hundreds of times with often similar responses.

Questions such as yours would be greeted more favourably if they started by saying I've thought of doing something, is that specifically a good idea, as iotherwise youre basically saying I can't be arsed to look, can someone wipe my backside for me.

planteria

fair enough, but the OP didn't need to have been responded to in that way, either. there wont be many questions that havent been asked already or answered in one way or another in another thread, but people are free to ask again if they want to.

Rolandtheroadie

I remember asking about child trust funds once.


A reply was "it's been answered before".


I said "Good, what was the outcome".


To which I was told "Things change, what was good then might not be good now"

oldtoolie

I'm sorry my light hearted response offended you.

I think the best place to look at how to save £4000 is the Money Saving Expert Saving page. Has the OP looked there? Did it answer the question?

biggysnax

Looks like I'll be investing it under my daughter's name in a Junior Saver account, nice 3% AER tax free under £200 interest :-)