Saving for my 30th.

cherabelle

Hi,


I am looking to start saving for my 30th Birthday in 3 and a half year. I want to book a big holiday with my friends to the Caribbean and then there will be a trip to New York 6 months later. I am hoping that during this time I will be able to save the costs of the holiday and the spending money.


My question is where is best for me to save this money? Ideally I am looking to put £75 a month away starting in May.


* I do not want it linked to my current bank account (Halifax), if I can see it when I am online banking and I am a little short on cash I don't want to be tempted to access it.


* Ideally I would like to be able to get even a little interest on what I am saving. Every little helps etc.


* It can't be in an ISA as I already have one which is to save for a deposit for a house.


My plan is to basically set up a standing order to the account, get rid of the card and not register for online banking so I can't touch the money. I don't trust myself otherwise so think no access is probably the best way forward.


Thanks in advance. C.

Eco_Miser

A Regular Savings account accepts a fixed (or sometimes variable) amount by standing order each month. You cannot access the money in the 12 months from when you start. (This means you can use this to save for three years, but you will need to use another method for the final six months.). At the end of each year, move the accumulated money to the best place for a lump sum then available (TSB Classic Plus at the moment). There are three RS accounts paying 6% AER. A full list is at https://forums.moneysavingexpert.com/discussion/608697

barak

Agree, Eco Miser, but isn't this a better link for Regular Savings?
http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#bb