Another £11,000 to do something with 29 June 2007 at 6:05PM in Savings & Investments 2 replies 655 views

Burlesque_Babe

i've never been in this position in my life - money to save!!!

However, I took all the advice with the money I got at the end of May and I now have 3k in an NS+I ISA and then 12k in a savings account at 6% and i'm drip feeding it at £500 a month to the YBS 7% Regular Saver.

In the next 2-3 weeks I will be getting another 11k to do something with (!)

Should I just pop it in the same savings account and drip feed when the times comes?

Or, is there something else I could do?

I can't see me needing it for 2 years so if there is some way of making it work i'd love to have a few options.

I'm not very au fait with savings products so I might need guiding through them.

kiwigirl

Hi,

You could open up another RS with elsewhere and drip feed into it again or put some in a 1 or 2 year bond if you know you won't need access to it for a while.

Hope that helps

KG

Burlesque_Babe

ok - what would be any recommendations for a good RS? I've got the YBS one going now.

I did consider a bond but I need to learn more about them. Why is a bond better than just putting it in a savings account? Is it just the interest paid?