I inherited some money, now what?

WorkFromHome

Thank you for all your replies. The reason I didn't state how much was because I'm not silly haha. Even without stating how much people have pm'd me asking to invest in them... as if! I have reported those people.

It was only a small amount but for someone who never has money (always in my overdraft) it has been a nice change. I have treated myself - to a clutch repair on my car lol - but having not had savings before I really want to keep my money for the future.

I will probably transfer my current account to a higher interest rate one for now, I'll make sure to read the small print though x

Archi_Bald

WorkFromHome wrote: »

Thank you for all your replies. The reason I didn't state how much was because I'm not silly haha. Even without stating how much people have pm'd me asking to invest in them... as if! I have reported those people.

Reporting them was the right thing to do. Don't be tempted to give any of them the time of day.

Radiantsoul

WorkFromHome wrote: »

Thank you for all your replies. The reason I didn't state how much was because I'm not silly haha. Even without stating how much people have pm'd me asking to invest in them... as if! I have reported those people.

I had never really considered that risk, but you do get so many people coming in her asking how to invest sums of money I can see it would be a profitable fishing ground for con artists.

atush

WorkFromHome wrote: »

Thank you for all your replies. The reason I didn't state how much was because I'm not silly haha. Even without stating how much people have pm'd me asking to invest in them... as if! I have reported those people.

It was only a small amount but for someone who never has money (always in my overdraft) it has been a nice change. I have treated myself - to a clutch repair on my car lol - but having not had savings before I really want to keep my money for the future.

I will probably transfer my current account to a higher interest rate one for now, I'll make sure to read the small print though x

Thanks for reporting them.

No one should ever contact other members in this way.

and yes, a single current acct paying a good rate of interest is a good enough place for the money now.

jimjames

WorkFromHome wrote: »

So would it be a gd idea to leave it in my sole current account? We aren't in a position to buy anytime soon, neither I nor my partner have a full-time contracted job ( both on zero hrs through lack of jobs in our area).

Only leave it in that account IF it's one paying interest. There are plenty already mentioned that pay good rates but also plenty of ordinary current accounts that pay nothing.

lazer wrote: »

TSB account pays 6% on £2k
Nationwide 5% on £2.5k (but only for one year)
Santander 3% on up to £20k (but £2 a month fee - bu should be able to cancel this out with cashback on utilities etc)

TSB only pay 5% not 6%. Tesco pay 3% without charging fee if you pay in £750 per month. There are also regular saving accounts paying up to 6%.