Regular Saver Thread **New and Restarted**

surreysaver

Sweetcake wrote: »

Heya, anyone who has previous issues of these, also getting issue 12, if so , what will be your purpose for both?


I have Issue 10 and considering whether to open this one too

And you can also open the in-store ones as well, also maturing every two months.

I don't know why interest is paid on 11th March - why not just pay it when it matures?

System

Sea_Shell wrote: »

We've all the available issues at the moment, on a rolling 12 month basis, so we have them maturing every 2 months. This then re-stocks other accounts and makes pension contributions. It's all about maximising interest on our cash, which will gradually run down, as we enter our "draw-down" phase.

Oh wow! Amazing. Haha, well I'm not quite near pension age (I'm 25), but I'm saving to buy and I use multiple regular savers to store and maximise interest , which I then plan to put (at least some) into my LISA to meet 4k limit at end of the tax year...


I do like the idea of what you do though..I'm thinking of doing the same (but not for a pension)


Interesting. So do you have regular standing orders into the accounts then? And when you say re-stocks your accounts, could you elaborate please?


And did you only do this when you were saving towards pension OR did you always use regular savers this way?

Sea_Shell

Sweetcake wrote: »

Oh wow! Amazing. Haha, well I'm not quite near pension age (I'm 25), but I'm saving to buy and I use multiple regular savers to store and maximise interest , which I then plan to put (at least some) into my LISA to meet 4k limit at end of the tax year...


I do like the idea of what you do though..I'm thinking of doing the same (but not for a pension)


Interesting. So do you have regular standing orders into the accounts then? And when you say re-stocks your accounts, could you elaborate please?

Yes we have standing orders set up so pretty much automatic. We have various interest paying accounts, (as we've been playing "THE GAME" *) So we're constantly moving money to the best account with "room" up to each's limits.


And did you only do this when you were saving towards pension OR did you always use regular savers this way?

We've done RS's for a few years now, but only really got into them since joining here and finding out about all the available deals.

* If you want more advise regarding all the options available...have a read of the Savings threads, or start a new thread. We don't want to clog this thread up. ;)

System

Sea_Shell wrote: »

We've done RS's for a few years now, but only really got into them since joining here and finding out about all the available deals.

* If you want more advise regarding all the options available...have a read of the Savings threads, or start a new thread. We don't want to clog this thread up. ;)

Hey, sure. Tbh I'm pretty much a RS expert myself too now haha, and have automatic SO's too, so I'm all sorted on that. was just interested to find out . TA.

lindez

Sea_Shell wrote: »

We've all the available issues at the moment, on a rolling 12 month basis, so we have them maturing every 2 months. This then re-stocks other accounts and makes pension contributions. It's all about maximising interest on our cash, which will gradually run down, as we enter our "draw-down" phase.

How do they mature every two months, sorry if this appears stupid, is it that the RS are set up two months apart. thank you

Sea_Shell

lindez wrote: »

How do they mature every two months, sorry if this appears stupid, is it that the RS are set up two months apart. thank you

Yes, with Virgin, they are usually launched on the odd months, and mature on even months, so we have issues 6,7,8,9,10,11 and now 12.

Westie983

Yay for another Virgin account just in time to replace Branch Issue 5 maturing in a few weeks...

They mature every two months, and sometimes twice a month on the 1st for Branch Issues and 20th for online, so can be quite good to get a lump sum not only every two weeks but also twice a month..

Off to open Issue 12

Westie983

lindez

Sea_Shell wrote: »

Yes, with Virgin, they are usually launched on the odd months, and mature on even months, so we have issues 6,7,8,9,10,11 and now 12.

Thank you,
Hope you don,t mind me asking another stupid question can a person open one online and one in branch and therefore have two accounts running at the same time.
Thanks

molerat

lindez wrote: »

Thank you,
Hope you don,t mind me asking another stupid question can a person open one online and one in branch and therefore have two accounts running at the same time.
Thanks

Yes, no problem.

IanManc

lindez wrote: »

Thank you,
Hope you don't mind me asking another stupid question can a person open one online and one in branch and therefore have two accounts running at the same time.
Thanks

molerat wrote: »

Yes, no problem.

And you may open one of each issue of the branch accounts and one of each issue of the online accounts, so after a while you can have several accounts of each sort running at the same time.