Regular Savers: Who's saving most?

[Deleted User]

This was inspired by comments on another thread, but I thought a thread of its own would be good.

WARNING: Don't copy this at home by trying to outdo each other. It's not a competition to see who can save the most. Remember, the opening poster has undergone many years of training which you haven't. Also, be aware that vulgarity lies ahead. If you're easily offended, please be aware of this and switch to a more refined thread now.

Who is putting most into regular savers each month?

I've opened a lot recently (didn't have any until Feb 2016). Here's my current tally:-

TSB £250 pm (5%)
HSBC £250 pm (4%)
Santander £200 pm (5%)
First Direct £300pm (6%)
M and S Bank £250pm (6%)
Nationwide £500pm (5%)
Lloyds £400 pm (4%)
Leeds Building Society £250 pm (3.05%)

Total £2400 per month

veryintrigued

Not sure its a competition - maybe reword the title as it feels a little vulgar.

Its possible to be saving £2820 from Notts B.S alone:

£400 a month at 4% - Special Saver 3,
£400 a month at 4% - Special Saver 4,
£100 a month at 5% - Savvy saver,
£250 a month at 4% - Notts sports,
£400 a month at 3.1 - Reg saver,
£1270 a month at 3% - ISA

Others you've missed are Penrith at £300 - 3%, Saffron at £200 - 3.5% and Leeds at £250 - 3.05%. And a lucky number of us will have the HSBC at 6% rather than 4%.

Also closed to new applicant accounts like N&P family which are still ongoing at 3.35% on £250

I haven't totted those up for you - but, to me, this thread doesn't add a lot that the Regular Saver thread already gives us?

https://forums.moneysavingexpert.com/discussion/608697

Is it important for you to know what others save rather than how they can save?

guitarman001

M&S 6%?
I'll be looking into that one!

alternate

guitarman001 wrote: »

M&S 6%?
I'll be looking into that one!

only available if you switch your current account and pay out 2 DD

guitarman001

Ah !!!!!!.
Thanks for letting me know, though.

PasturesNew

Deleted_User wrote: »

£2150 per month

veryintrigued wrote: »

maybe reword the title as it feels a little vulgar.

Yes, it is vulgar.

OP .. £2150/month is more than a lot of people will ever hope to ever take home in a month ... and after they've paid their rent/mortgage, council tax, basic bills, commute to work, they're often down to the final £100-300/month (if they're lucky!).

So, you being able to save that much/month indicates you're in the top bracket of earnings in the country .... so few people would be able to match your figure ... or even 1/10th of it ....

So it's game over.

It's YOU .... you save the most.

TheTracker

PasturesNew wrote: »

Yes, it is vulgar.

OP .. £2150/month is more than a lot of people will ever hope to ever take home in a month ... and after they've paid their rent/mortgage, council tax, basic bills, commute to work, they're often down to the final £100-300/month (if they're lucky!).

So, you being able to save that much/month indicates you're in the top bracket of earnings in the country .... so few people would be able to match your figure ... or even 1/10th of it ....

So it's game over.

It's YOU .... you save the most.

What a load of tripe. Using regular savers requires no income, and it is perfectly feasible to use them even if your net worth and cash reserves are depleting over a year. It doesn't even need a lot of money. To place £2k/month in annual regular savers, with perfectly staggered maturities, requires just £12k or so of savings.

It has nothing to do with earnings, it has to do with savings. If you're the type of person who always has 10k+ of savings, and that certainly doesnt place you in the uppermost brackets, you'd be silly not to use them.

[Deleted User]

£2350pm here.


Made of recycling existing savings
New savings
Max the return of £35000 stooze pot


Interest and account opening bonuses get paid to the SIPP to further increase return.


Plus so many current accounts I'm going bonkers...

Dan83

Have you got the high interest current accounts filled?

I understand the regular saver thing, it's just never appealed to me.

I might look into a HSBC 6% saver to drop feed my £3000 tesco account into.

Well done you, making your money work for you!

DavidHayton

Deleted_User wrote: »

Well actually, I'm retired living on pension and savings. The money is drip fed from other savings. So your assumptions are wrong.

Good idea to do that and get the most out of regular savers. What do you do with the capital sums when they mature? or have you timed it to perfection so that when one matures you split it and feed it into the others?

[Deleted User]

David Hayton: none have matured yet.