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Savings advice - coming out of OR contributions
Westan
Posts: 23 Forumite
Hello.
I will in the next 6 months be finishing paying off my contributions to the OR after bankruptcy. This has been >£500 per month for the last three years.
I will therefore be able to save money to build back up where I have "lost" over the last few years. Learned my mistakes, will never happen again.
Anyway. Where would experts recommend I save this money. I will be looking to put away at least £300 per month, maybe up to the £500, but also would like to have some cash in my current account as have been depressed with only a few quid in there each month!
What schemes should I be looking at?
Any advice greatly received.
Many thanks!
I will in the next 6 months be finishing paying off my contributions to the OR after bankruptcy. This has been >£500 per month for the last three years.
I will therefore be able to save money to build back up where I have "lost" over the last few years. Learned my mistakes, will never happen again.
Anyway. Where would experts recommend I save this money. I will be looking to put away at least £300 per month, maybe up to the £500, but also would like to have some cash in my current account as have been depressed with only a few quid in there each month!
What schemes should I be looking at?
Any advice greatly received.
Many thanks!
0
Comments
-
Hi,
You could open a first direct regular savings account which offers 6% per month for a maximum of £300 per month. However, to open this account, you would need to also open a First Direct current account and set a standing order on the FD current account to pay into the monthly regular saver account.£47605.33 outstanding in C.C (£8000 Interest free till January 2025)0
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