Regular Savers: Who's saving most?

savings_my_hobby

I pay £950 per month into regular savers, I will probably reduce the amount to £750 per month next year though.

LXdaddy

Between us, OH and I add £3,200 per month to regular savers these earn 6%, 5% or 4%. That doesn't mean that we have that much "spare" income per month.


Yes we have filled the obvious 5% and 4% current accounts and have a significant amount in the 3% accounts. Some of the £3,200 is being drip fed from the 3% accounts.

YorkshireBoy

LXdaddy wrote: »

Between us, OH and I add £3,200 per month to regular savers these earn 6%, 5% or 4%. That doesn't mean that we have that much "spare" income per month.


Yes we have filled the obvious 5% and 4% current accounts and have a significant amount in the 3% accounts. Some of the £3,200 is being drip fed from the 3% accounts.

I'd have expected a bit more going in if you still have a "significant" sum making 3%...there's room for £4,300* a month at 4-6% (with the main players). Maybe you're deliberately delaying opening some in order to get some maturity date balance across the year?


* I've included Club Lloyds in this figure, but that will change when yours (if you have them?) mature of course.

Archi_Bald

Depending on where you live, you can put up to £2,700 per person per month into Regular Savers that pay from 4% to 6%. All the accounts are listed in the excellent thread Special_Saver2 maintains.

Astraeus

That the OP is amongst the 'top' savers in this thread and is retired is a sad indictment of this country's tax code.

Astraeus

Deleted_User wrote: »

What rate of tax do you pay then? Last time I checked, I pay tax at the same rate as "workers".

It is clear from the other thread in which we are both participants, in which you didn't bother to read the OP before commenting, that you are either a reasonable person having a bad day or an inherently unreasonable person. My inclination, given you have posted here in a vulgar attempt to gloat about how much you are able to put aside each month, is toward the latter. Accordingly, I won't indulge you.

colsten

Astraeus wrote: »

That the OP is amongst the 'top' savers in this thread and is retired is a sad indictment of this country's tax code.

Can you explain what savings and use of regular savers have got to do with "this country's tax code" (can you also explain what that is)? What are your views on retired people and savings? What do you classify a "top saver"?

Astraeus

colsten wrote: »

Can you explain what savings and use of regular savers have got to do with "this country's tax code" (can you also explain what that is)? What are your views on retired people and savings? What do you classify a "top saver"?

A country's tax code is the set of regulations and statutes which dictate how tax is levied and collected.

Savings and the use of regular savers is an indicator as to how much disposable income an individual has which is the direct consequence, in large part, of the tax levied against their gross income.

A "top saver" is a wholly objective construct which, within the context of this thread, is a poster who is able to save more than the majority within the thread. Kind of like a "top" anything, really, when it comes to objective ranking.

My views on retirees and savings? God bless them both.

P.S. Great post! :T

Bazofts_Revenge

Some people seem to think that transferring existing savings to new accounts is saving. So those who have stated they are saving £3K+ per month aren't really doing that. The subject title should have been who is putting the most into regular savings accounts? Not, who is saving the most?

Astraeus

Bazofts_Revenge wrote: »

Some people seem to think that transferring existing savings to new accounts is saving. So those who have stated they are saving £3K+ per month aren't really doing that. The subject title should have been who is putting the most into regular savings accounts? Not, who is saving the most?

From your signature, you are the sort of investor I admire. One who deploys capital in the most resourceful manner possible, the funding of nascent businesses. Kudos. That you are from God's own country is both a further feather to your cap and, given your credentials, no surprise to me.

Of interest, where does one go about starting with angel investing - did you do it through your own existing network?