Saving up to £1k a month

aldino2015

After years of always being in minus, I am finally in a position where I can start saving!

I have £2.5k in my account and can save about £700-£1k a month.

I am not a home owner, but the idea is floating in my mind, whenever I can get a proper deposit (would be bought together with my other half), so would it be best to open a Help To Buy ISA straight away? I have never had an ISA account.

After the £200 a month I put in it, is it just a case of trying to open the best savings accounts as listed in "What is the Highest Interest Rate You Can Get?" ?

Thanks

colsten

Pretty much spot on. Go for the best rates you can get. Your other half should do the same if at all possible.

You might also be able to make some extra cash from switching accounts, even if that means opening accounts just for the purpose of switching. Nationwide has a great Refer A Friend offer.

aldino

Just remembered my previous account details!

Thanks, got the Halifax Help to Buy ISA opened and will try to open the others soon.

imjayw

You can put £1200 into the Halifax H2B on the first month, then £200 every month after that.


First Direct regular savers account 6% - £300 p/m (if you switch get £150 bonus)
M&S regular savers account 6% - £250 (if you switch £100 m&s giftcard)


So far that's £750 of regular saving every month. If you wanted to save more, you can open a TSB regular savers account 5% and drop in another £250 p/m


You can open a TSB current account as well and leave the remaining £1.3k lump sump and get 5% interest on that too!