Need a home for my £40,000 savings 31 October 2014 at 5:32PM in Savings & investments 3 replies 1.3K views

chelseablue

I currently have £40,000 dotted around in 3 different accounts (all paying rubbish interest)

Id really like some advice on what to do with it, to hopefully earn some more interest.

Just a couple of points:

*It will be needed to finance a house move in about 3 years. So could put it away somewhere for 3 years max

*I dont mind a bit of risk - but I don't want to end up with less than I started with

Can anyone advise? Or should I see a financial adviser?

YorkshireBoy

chelseablue wrote: »

I currently have £40,000 dotted around in 3 different accounts (all paying rubbish interest)

Id really like some advice on what to do with it, to hopefully earn some more interest.

Just a couple of points:

*It will be needed to finance a house move in about 3 years. So could put it away somewhere for 3 years max

*I dont mind a bit of risk - but I don't want to end up with less than I started with

Can anyone advise? Or should I see a financial adviser?

1.4% in savings accounts, or 3-5% in high interest current accounts...your choice really.

Loads of threads on the board from people in your situation ("I have £20K/£30K/£40K/£50K (delete as applicable)...where's the best place to put it?"), so I won't duplicate the answers already given times many, but leave you to search out the specific threads on both this board and the current account board.

3 years is too short a timescale for 'investing', so don't waste your money paying for advice.

xylophone

http://forums.moneysavingexpert.com/showthread.php?t=5099524

post 8

eskbanker

Ask around at the Bridge for what they do with their loose change?