Am I doing it right? Maximising savings and income

1christopher

I'm looking to maximise my savings and earn the most i can throughout the throughout the year...

At the moment I have the following:

- TSB account £2,000
- TSB account £2,000
- TSB monthly saver - £250/mo - now up to £500 (trying to feed this from income where i can)
- Nationwide flexdirect £2000 (new account on the 5%)

I get paid into a Halifax reward account and do most of my spending on a Rewards Clarity card, and i'm trying to use the £100 TSB contactless spend too.

Is there anything else I could be doing to get a bit more out of my 'pot'?

Futuristic

There was no need for the nationwide flex as you could have had a joint account making 3 TSB but other then that seems optimal.

You could switch a unused account to FirstDirect to get £125 switch bonus and then sign up to their 6% saving account to save between £25-300/mo as well if you have excess funds

1christopher

Not at joint account stage yet :P

The £2k+500 in Nationwide plus TSB regular saver came from summer overtime so are new additions.

Kim_13

Tesco for 3% on any money that doesn't fit into one of the above accounts.

Natwest Rewards for bills if this would be profitable (if paying more than £100 a month in qualifying Direct Debits.)

sho_me_da_money

A couple of questions of the back of this:

I have the TSB current account and I was thinking of putting 2000 in it as a one of payment - will that pay me 5% interest? or do I have to feed that 2000 in regularly e.g. 200 per month?

How has the poster got 3 TSB accounts? How do I do this?

ceredigion

The OP has two current accounts and one savings account

1christopher

Thanks Kim, it says on Natwest i can save £60.48 a year, presumably thats excluding the £3 fee so an extra £25.

Will look into it further.

sho_me_da_money

How is it possible to get another TSB account?

1christopher

When it first launched you could have two.

sho_me_da_money

2 incentives too?

Is it possible to open another one now? or as the first response says - a joint account?

colsten

1christopher wrote: »

- Nationwide flexdirect £2000 (new account on the 5%)

Your FlexDirect takes £2,500.

1christopher wrote: »

I get paid into a Halifax reward account

You don't mention getting the monthly fiver?

1christopher wrote: »

Is there anything else I could be doing to get a bit more out of my 'pot'?

Can't really answer that without knowing what your total savings are now, and how much you plan to add per month