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£5000
Thatbloke_2
Posts: 1 Newbie
Hello to all ,I am new here.I need some advice please.I hope you do not mind me asking this question , I realise you must get it a lot. I have read lots of posts but still feel confused.
Ok, I have a lump sum of £5000 that I wish to put into savings accounts.I would like to have easy access to it.Obviously I want to make as much as possible in interest payments on it.
I thought perhaps I could open a couple of current accounts and chuck it in there along with my regular income ( which isn't a lot) I could manage to add say £600 a month to the lump sum to pay bills and that and also pay a few Direct Debits ?
Or am I better off putting it all into an ISA or whatever they are called now?
So, Just how can i make the most of my £5000 ? I don't mind switching accounts and stuff like that if it helps.
I would appreciate any help.I am confused. I do not have a mortgage or debts.
Many thanks in anticipation....
Ok, I have a lump sum of £5000 that I wish to put into savings accounts.I would like to have easy access to it.Obviously I want to make as much as possible in interest payments on it.
I thought perhaps I could open a couple of current accounts and chuck it in there along with my regular income ( which isn't a lot) I could manage to add say £600 a month to the lump sum to pay bills and that and also pay a few Direct Debits ?
Or am I better off putting it all into an ISA or whatever they are called now?
So, Just how can i make the most of my £5000 ? I don't mind switching accounts and stuff like that if it helps.
I would appreciate any help.I am confused. I do not have a mortgage or debts.
Many thanks in anticipation....
0
Comments
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As you say, there are current accounts paying better interest than savings/ISAs, see http://www.moneysavingexpert.com/savings/savings-loophole for a guide....0
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