Savings Diary - Starting from Scratch

TheBunting

So at 22 years old, finishing my Plumbing Apprenticeship at the end of June, I am deciding to start heavily saving for things I'm going to need in the next 5-10-15 years. I have had to live off basic wages during my apprenticeship but nearing the end I will be on decent money (£1600/1700 pm after tax) which is good considering my outgoings are small. After paying everything I will need to over the month. I will have £1000 roughly left. With 1 or 2 things on average happening each month that leaves me around £800. Let's see what I can do when I put my mind to it!!

Starting off March 2015:
£100

Aiming to work up to £500+ then open a TSB Classic Plus and start juggling there to earn interest whilst adding in weekly (I get paid weekly).

Any tips along the way will be appreciated :money:

NoMore

Why not open the TSB Classic plus now? Put your savings in and as long as you transfer in £500 month (you just transfer it right back to your main account if you need it) then you can start earning interest on your savings now.

The £500 doesn't have to be in one transfer, you could just transfer the same £1 500 times if you wanted as long its happens in the month.

TheBunting

NoMore wrote: »

Why not open the TSB Classic plus now? Put your savings in and as long as you transfer in £500 month (you just transfer it right back to your main account if you need it) then you can start earning interest on your savings now.

The £500 doesn't have to be in one transfer, you could just transfer the same £1 500 times if you wanted as long its happens in the month.

Good thought, so although I only have £100 I can just do it 5 times to trigger the rate yes? Thanks for the help! :T

TheBunting

Can someone please close this thread? I opened it in the wrong section so made a new one in the Savings section. No need for this one now, sorry!