How many Regular Savings Accounts do you have?

aj23_2

karlie88 wrote: »

Jesus wept - where do I start with this little gem...

1. They're funded from my savings - you know those accounts that have money in them? After having saved money for many years...

2. I haven't said that I 'opened all of these at the same time'. Ironic of you to think I'm naive.

3. As far as I can see, more people believe in this thread than don't re: amount of active reg savers that can be held at any one time.

4. Would you like to know my bra size too?

You're making quite a name of yourself on the savings forum.

If you think your answers show any less sarcasm or irony in their responses then I'd think again. You don't need to reply to me you know, yet you still do. And no thanks, it wouldn't do anything for me.

IanManc

aj23 wrote: »

The initial comments were just people saying how many Regular Savers they had with no background, context etc. That's why people question them. Clearly most have been doing it years, and have saved enough to use funds from one to fund another. But personal circumstances as to income, debts, mortgages, dependents (or lack of these latter three) etc weren't initially declared or factored in which can make a difference.

The regular savers I've been using haven't matured yet because they have longer than 12 month terms. Leeds RS Issue 4 for example, which just got a 5 month extension. My HTB compounds year on year too, hence having had £250 in interest so far. Lifetime ISA compounds too. In the longer term, they can generate more interest.

The Leeds RS Issue 4 never had a maturity date - when it was introduced it had a maximum balance of £6000, and no time limit on how long you could take to get there.

karlie88

aj23 wrote: »

You don't need to reply to me you know, yet you still do.

Likewise. :rotfl:

System

Haha this thread is giving me jokes. Karlie, you go girl. The Jesus wept comment haha. All of this due to the amount of regular savers people do/do not have.

EachPenny

aj23 wrote: »

The initial comments were just people saying how many Regular Savers they had with no background, context etc. That's why people question them. Clearly most have been doing it years, and have saved enough to use funds from one to fund another. But personal circumstances as to income, debts, mortgages, dependents (or lack of these latter three) etc weren't initially declared or factored in which can make a difference.

People?

aj23 wrote: »

In the longer term, they can generate more interest.

NSS!

So what are your suggestions for accounts I should be going for to earn more than my RS accounts?

Chadsman

aj23 wrote: »

Well it does because the poll shows that over a quarter of people have more than 10+. That is a lot by anyone's standards.

IMHO this forum and particularly this thread is not representative of the wider population.
:beer:

masonic

It's not really surprising you get threads where people detail having dozens of regular savings accounts, all funded, when you take into consideration other threads in which people wonder about breaching the £85k FSCS limit with one bank. Clearly there are people with large amounts of cash held on deposit, who could quite easily fund this number of accounts and who would exhaust all other accounts paying a reasonable rate of interest.

Then there are others of us, who have no need to hold so much cash on deposit, who don't need to go to the same lengths to earn a reasonable rate on all of their cash.

Each will have quite a different perspective on the issue, but anybody who has spent any reasonable amount of time here really ought to see things from both sides.

AndyPK

When it says regular savers. I assumed it was the type you could only add £200 - 300 a month

masonic

AndyPK wrote: »

When it says regular savers. I assumed it was the type you could only add £200 - 300 a month

Yes, that's the type. Many people cycle money through them, using the proceeds of one maturing RS to fund others, alongside cash they hold in lower rate savings/current accounts.

Captain_Bravo

I'm new to the forum, but thank you guys for threads like this, and for being honest.
A newbie like me has a lot to learn.