Best way of saving the 'Stooze Pot'

Hello,

Just a quick discussion as to what people think is the best way to save up a stooze pot i.e. how much they have saved by doing all these weird and wonderful things...which type of account and when?

I thought I would do this, as at the moment it all goes into my regular savings accounts and it would be good to see how much I save!

Comments please!!
INCREASE INTEREST ON SAVINGS!

...I will thank you if youve been helpful, please do the same! :j
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Replies

  • sickersicker Forumite
    1.4K Posts
    My route would be an on line banking account with ICICI PAYING 6.05%.

    John
  • sickersicker Forumite
    1.4K Posts
    As of 23rd July make that 6.3%
  • emma396emma396 Forumite
    760 Posts
    i've put a lump sum in to alliance and leicester direct saver. i think it;s 6.17%.
  • sickersicker Forumite
    1.4K Posts
    emma396, my (A&L) direct saver pays 5.74% but I think new applicants get 6.1 for a while. REMEMBER that you get NO INTEREST in any month that you make a withdrawel.

    John
  • emma396emma396 Forumite
    760 Posts
    that's ok. i have no intention of moving the money. i also have 2 monthly savers. one with lloyds and one with hsbc. both r 8% and i am paying £250 into each every month. i am about to change my account with abbey and pay in my wages to get 8% for a year on balances up to 2500.
  • wayoflifewayoflife Forumite
    281 Posts
    thanks for the replies guys, but that wasnt really what I was getting at...

    I have some e-savings accounts, which earn me a decent amount of money with no penalties for withdrawing and only £1.00 minimum deposit. Its also linked to my current account allowing a direct transfer to it instantly.

    However I was getting at the methos and timing of it. i.e. do you work out how much money you have saved on a monthly basis and transfer this into a savings account? do you stash it as soon as you save it? and do you spend this or save it indefinately?

    thanks
    INCREASE INTEREST ON SAVINGS!

    ...I will thank you if youve been helpful, please do the same! :j
  • emma396emma396 Forumite
    760 Posts
    save indefinitely! any spare money lives in my online saver. i use my credit cards for EVERYTHING. the balance on my current account is usually only enough to cover my DD or SO that i know is going out. i do have an overdraft just incase it goes wrong tho
  • wayoflifewayoflife Forumite
    281 Posts
    emma396 wrote: »
    save indefinitely! any spare money lives in my online saver. i use my credit cards for EVERYTHING. the balance on my current account is usually only enough to cover my DD or SO that i know is going out. i do have an overdraft just incase it goes wrong tho


    yer me too emma, I have four credit cards now for different things!! the only thing that annoys me is the silly credit cycles, 25 or 29 days, which mean you never pay them on the same day of each month....grrrr!

    what card have you got?
    INCREASE INTEREST ON SAVINGS!

    ...I will thank you if youve been helpful, please do the same! :j
  • wayoflifewayoflife Forumite
    281 Posts
    Al_Mac wrote: »
    I have a separate stooze savings pot and each time I pay the minimum, the same amount gets transferred to another account. So hopefully at the end, the dedicated account should still have money in it, the profit :)

    You mean the minimum payment on a credit card?
    INCREASE INTEREST ON SAVINGS!

    ...I will thank you if youve been helpful, please do the same! :j
  • YorkshireBoyYorkshireBoy Forumite
    31.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    wayoflife wrote: »
    the only thing that annoys me is the silly credit cycles, 25 or 29 days, which mean you never pay them on the same day of each month....grrrr!
    Why not move the statement dates so that they're all 'due' on (broadly) the same date?...ideally 3-4 days* after your salary hits your current account.

    I've found that this is by far the easiest, most profitable, way to manage my cards (and I've had as many as eleven stoozing cards on the go at the same time).

    Any shortfall can be brought back from the stooz pot, and the interest lost due to money in transit is kept to a minimum.


    * To give you chance to bring in some money from elsewhere should your salary be late.


    Edited to add: I pay all but one of my cards by DD.
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