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Short Term Saving for 25k
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I've had the Santander 123, the Nationwide Flexdirect and the Tesco Current Account. I know what they all generate. No need to explain.
Evidently there is because you posted incorrect information about them.
You also persist in thinking that everything centres around you. I was posting for the benefit of the OP to disabuse them of a false understanding they may have due to your erroneous post.I never said closing with Santander 123 would cost money, so you're wrong there.
Erm, you kind of did! Here's what you said:
"You could switch to Santander's 123 account and get about £30-£40 a month on up to £20k. But there is a £5 fee a month, so when you take it back out it might cost you money."I said if you withdraw the money and keep the account open, it would cost you, which is true, as you are charged £5 a month regardless of the balance.
That may have been what you intended to write, but it isn't what you actually did write. One of the things that would improve the quality of the information that you post would be ensuring that you have written in grammatically correct English. The other, by the way, would be getting the facts right too.If you're relying solely on the interest on the cash balance, you need at least £14k for it to generate a profit for it. And you can't say my 'advice' of £30-£40 isn't quite right, because it's fact and I know it first hand. So you're wrong here too.
We've been here before. Facts can be substantiated with evidence. There is no evidence to support your nonsense that Santander 123 will pay £30-340 on a credit balance. They won't because the gross interest rate is 1.49%. 1.49% of £20,000 is £298. £298 divided by 12 is £24.8333 recurring. £24.83 is not the same as £30-340. Buy a calculator and learn how to use it!And of course you wouldn't do 123 for 6 month, because I suggested it as an option. What a surprise.
What? This makes absolutely no sense.
Your interest figures are still wrong, by the way. Several of us have now pointed this out and you continue to ignore it.0 -
open a vanguard isa and stick £20k in there lifestrategy 20 fund, then after the financial year ends, stick in the rest.0
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My parents have this account and don't have a mortgage. But obviously yes the DD cashback would increase it, but I was talking just about the interest here on the cash balance.
In which case the figures you quoted were wrong. Which is exactly what we pointed out.Why are people so tetchy on here.
Because we are all getting fed up with you posting inaccurate information and then, when we correct it, you start getting argumentative and insist that we are wrong and lack the reading comprehension skills, and intellectual capacity, to appreciate what you are saying. We don't; you are wrong.0 -
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open a vanguard isa and stick £20k in there lifestrategy 20 fund, then after the financial year ends, stick in the rest.
For six months? :eek:
OP do not invest this money in stocks and shares. This would be extremely high risk. Investing requires a long term commitment to ride out market downturns. If you put your money into stocks and shares, and then sell after six months, there is a very large chance that you will make a loss. For some context, in the last couple of weeks my investment portfolio has lost around 3%. I'm not worried about this as it is part of a 30 year strategy, so there is plenty of time to recover. Six months, however is not long enough.0 -
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only follow this link if you have a sense of humour https://youtu.be/QM0yhhJUdaM otherwise I fear for the consequencesVoyager2002 wrote: »What are you trying to say? This is an English-language board.0 -
ValiantSon wrote: »In which case the figures you quoted were wrong. Which is exactly what we pointed out.
Because we are all getting fed up with you posting inaccurate information and then, when we correct it, you start getting argumentative and insist that we are wrong and lack the reading comprehension skills, and intellectual capacity, to appreciate what you are saying. We don't; you are wrong.
Excuse me, but you haven't seen their statement, so you are wrong to say I'm wrong. Last months was £34, and they haven't got a mortgage. By 'we' you mean 'you,' and the world doesn't revolve around you. It's you who replies to me. Don't like it, don't reply to it. I don't post or ask for you to reply to me.. As I said, on the other thread, I said I agreed with your basic principle multiple times, yet you still continued to disagree with my agreeing. Talk about pick a fight with yourself. Please, get over it..0 -
ValiantSon wrote: »Evidently there is because you posted incorrect information about them.
You also persist in thinking that everything centres around you. I was posting for the benefit of the OP to disabuse them of a false understanding they may have due to your erroneous post.
Erm, you kind of did! Here's what you said:
"You could switch to Santander's 123 account and get about £30-£40 a month on up to £20k. But there is a £5 fee a month, so when you take it back out it might cost you money."
That may have been what you intended to write, but it isn't what you actually did write. One of the things that would improve the quality of the information that you post would be ensuring that you have written in grammatically correct English. The other, by the way, would be getting the facts right too.
We've been here before. Facts can be substantiated with evidence. There is no evidence to support your nonsense that Santander 123 will pay £30-340 on a credit balance. They won't because the gross interest rate is 1.49%. 1.49% of £20,000 is £298. £298 divided by 12 is £24.8333 recurring. £24.83 is not the same as £30-340. Buy a calculator and learn how to use it!
What? This makes absolutely no sense.
Your interest figures are still wrong, by the way. Several of us have now pointed this out and you continue to ignore it.
If you have a 123, which has a monthly £5 fee, and you withdraw all the money from it, then yes it will cost you money as it charges regardless of your balance. You'd have to close it or switch it to avoid it. Anyone can work that out, except you. Use their calculator, it will tell you the same thing. If you use it for the cash interest only, and have less than £4k in it, you will be losing money. Fact. You're wrong.
If you want to contribute, reply to the OP and say what you have to say. Your constant quoting me is obsessive.0
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