VERY thick question

Tea&Biscuits

Thanks so much for all the responses... you made it MUCH clearer to me!

Really excited about the year ahead and the possibilities to save as much as I possibly can.

M0ney

ColdIron wrote: »

Don't forget to use the contactless card for an extra fiver a month

What do you mean? If you get a contactless card they will pay you another £5 each month if you just use it once???

SeduLOUs

M0ney wrote: »

What do you mean? If you get a contactless card they will pay you another £5 each month if you just use it once???

No, you get 5% cashback on any spending you do with the contactless card, up to a maximum of £5 per month. To get the maximum you would need to spend £100 a month with the contactless facility of the card.

M0ney

Wow, I had no idea, will need to try and utilise this.

ColdIron

M0ney wrote: »

What do you mean? If you get a contactless card they will pay you another £5 each month if you just use it once???

No you get 5% cashback on up to £100 pcm so a fiver. The payments must be contactless so up to £30 each. I've got 2 of them and have no problem using them for £200 for a free tenner

£5 for using a TSB contactless rather than someone else's card or not contactless, a no brainer IMO

savings_my_hobby

Tea&Biscuits wrote: »

Opened a TSB classic account with a view to putting £2k in there to get the 5% rate and also opening the reg saver. I know it says for the classic account the 5% interest is paid monthly, but if I put £2k (and leave it) in there straight away, how much interest will be added that very first month?

Its just over £6 per month at the moment as others has said. You can extrapolate yourself for a estimate, I always keep track of the start date weather I need to or not. After April the monthly interest will be just over £8 per month.