How many Regular Savings Accounts do you have?

binaryuniverse

Was just adding some clarification to the thread, as there seems to be a little confusion.

surreysaver

gingercordial wrote: »

A problem for which stoozing is the perfect solution. At least that's how I did it :T

I use a similar strategy to stoozing. I have a flexible mortgage at a very low rate of interest. Therefore it is worth me borrowing money from my mortgage and using it to put into Regular Savers (or any other account paying 2%+)

gingercordial

schiff wrote: »

There is a clear difference between two categories of investor which hasn't been emphasised.

On the one hand those who have substantial ready cash funds will find it easy. Those constitute the majority of the 10+ merchants.

And those with modest savings and commitments - intending to buy a property or with childrens' university to fund, etc - who will find it tricky even to get going. It's not surprising that the latter are shocked at how many RSs people have.

Absolutely. This is illustrated very nicely by the chart of the poll results, which (currently) has a nice normal distribution for "normal" people with modest savings and then a spike at the end for us oddballs with lots.

I expect the OP had no idea what a complex question they were asking! I'll hazard a guess they were expecting the first distribution, not realising what else they might flush out :rotfl:

karlie88

gingercordial wrote: »

and then a spike at the end for us oddballs with lots

:T:rotfl::T

Couldn't have said it better myself.

Cotta

How sensible or indeed useful is it to have various Regular Savers? I have three with some friends recommending I setup one with M&S

System

Cotta wrote: »

How sensible or indeed useful is it to have various Regular Savers? I have three with some friends recommending I setup one with M&S

I (and I think many others on this thread) would say, EAT YOUR HEART OUT if you can.

Cotta

Sweetcake wrote: »

I (and I think many others on this thread) would say, EAT YOUR HEART OUT if you can.

As in setup another RS?

Vortigern

Cotta wrote: »

How sensible or indeed useful is it to have various Regular Savers? I have three with some friends recommending I setup one with M&S

M&S is one of the best, paying 5% AER, so grab it while you can.

... But I see you're considering a S&S ISA. In which case you might have to choose between regular cash savers and regular investments in your ISA.

ozaz

gingercordial wrote: »

I expect the OP had no idea what a complex question they were asking! I'll hazard a guess they were expecting the first distribution, not realising what else they might flush out :rotfl:

That's right! :laugh:
But the realisation came pretty early in the thread...

ozaz wrote: »

:eek: I didn't anticipate so many would have 10+ (the majority selection so far)
Here's me wondering if I can bother with the hassle of going from 3 to 4 :laugh:

Cotta

Vortigern wrote: »

M&S is one of the best, paying 5% AER, so grab it while you can.

... But I see you're considering a S&S ISA. In which case you might have to choose between regular cash savers and regular investments in your ISA.

With the switching bonus and £5 per month it looks like a great option.