Where do you keep yours?

smeeinnit

I had mine in my (interest bearing) current account but also wasn't comfortable with the fact it was staring me in the face so I now have an easy access NISA with a different bank, I can move money whenever I wish but I don't see it when I log on daily to the bank. Its kind of "out of sight, out of mind".

Not for everyone of course, but works for me.

sourcrates

Well, I have to admit to never having an emergency fund.
All the way through the IVA I managed to "wing it", I kept a few spare quid in a jar, if that counts.
This is not best practice I know, but a few months into been debt free, I have been unable, so far, to gather any savings at all, but hopefully this will change in time.

dotdash79

d3mon4ngel wrote: »

I have mine in a Credit Union account. It's easy to put the money in (standing order) but it's a right faff to get it out, as I have to go into the office and sign to withdraw it. It means it easily saves up and I'm unlikely to go dipping into it on a whim.

Snap, I can request to withdraw on-line but it takes 3 working days to get to me. If I need anything before then I have my credit card.

Kitty777

I keep mine in a separate savings account, with no debit card. I make sure that I put money in each month...whether it is £1, £10 or £100 (I wish!)

I also see it has a 'loan to myself' if I take it out of there. For example, today I had to transfer £15 for petrol until payday on friday. I have made a note that after bills etc that I owe my savings account that money. If seems to work for me, however my compulsive shopping part keeps telling me to clean the account out ><

poppasmurf_bewdley

I do the same as old man Arkwright and keep it in an old Oxo tin.

1DayAAT

Premium Bonds. Its a little more faffier to get access to than just having it in my account (although not difficult, I'm just a lazy sod).. and also I reinvest any prizes so it helps my EF grow a little here and there. Plus that thrill element when I check the draw every month You never know.
I used to think cash was a good idea and kept £3k in my safe for quite a while in the wardrobe.. but it just went down and down and down for what really weren't actually emergencies.. clearly way too tempting to have cash around for the likes of me

Zerdi6

I'm hoping to start my emergency fund this month. After reading posts on here I now have 3 savings accounts (1 for car/household unplanned costs, 1 for christmas/birthdays etc, and 1 which I am going to pay whatever I can into each month to remain untouched)

JasX

joe_mcclaine wrote: »

Works for me.

Anything else is just a faff.

Same, luckily I have a current account that pays a decent % interest so I aim to budget to always have a little extra 'saved' in it each month pushing my current account balance up.

Then whenever I feel I've saved enough to 'do' something with I'll zap everything except the emergency fund balance off somewhere (ISA or premium bonds or hitting the mortgage with a one off overpayment or somewhere else longer term savings) and start trying to make the balance creep back up again.

misskl

I save 10% straight into an ISA which is an emergency fund. It currently has about £1300 in there, however my intention is to build it up to 10k.


It is with my current bank, but after reading on here I think I should use another method, that will earn interest.

joe_mcclaine

JasX wrote: »

Same, luckily I have a current account that pays a decent % interest so I aim to budget to always have a little extra 'saved' in it each month pushing my current account balance up.

Then whenever I feel I've saved enough to 'do' something with I'll zap everything except the emergency fund balance off somewhere (ISA or premium bonds or hitting the mortgage with a one off overpayment or somewhere else longer term savings) and start trying to make the balance creep back up again.

That's pretty much me, word for word.

Santander 123 a/c.

Mortgage overpayments (until I cleared it last Christmas).

Premium Bonds with any 'daft' / 'found' money.