Buffy takes it 6 months at a time

Buffythedebtslayer

Sun_Addict said:

Are you with the Halifax, have you looked at their Regular Saver account? You have to commit to a set amount per month for a year with no withdrawals but the interest rate is pretty good compared to a lot of others.

I think I had one of those before.... hmmmm. 
It is like a game this savings lark. Sticking it all in one place is a false sense of security. I need it spread out so I don't accidentally spend it. 
Today has been exhausting. am glad the day is done. 

beanielou

Hopefully you got some sleep xx

Jellytotts

We have several different savings pots but always try and have a chunk of premium bonds too, we’ve found that you need to buy in chunks of £1k or more to get a better chance of winning anything (probably no mathematical logic to it but hey ho).  We treat that as our “do not touch under any circumstances” money.  It’s basically enough to cover a funeral and house sale/purchase fees so if the SHTF, we know the other one is safe financially for a while). On average this year we’ve had a 2% return on it through winnings which is not bad at all.

in_need_of_direction

I stash the money to pay my self employed tax bill in premium bonds and treat every win like a tax rebate.  I also can’t withdraw it from an atm

Buffythedebtslayer

I am pondering paying 25 quid in to a bond. 
The thing is I do the lottery (and the postcode lottery) I also pay to to a peer to peer company 10 a month which I think I will stop given the recession! I have about 500 pounds across two companies which I leave to fund small businesses it just recirculates. It isn't safe or protected but I have done it for a long time and just ignore it. I took a chunk out pre Brexit so now feel I would be ok with losing it, people need all the help they can get, yes I know it is only a small amount but you got to do what you can. 
I don't want to stop either lottery payment (!) what if we win??? and I think putting a huge chunk in Premium bonds - I wouldn't want to take it out? So I think paying money into a bond might be better cos I wouldn't worry about "losing". 

I had read that before about the 1000 blocks. Sort of tempted to take my 250 out and buy a 1000's worth and ignore it. But I need all the money I can get for a deposit. Yes I am just thinking aloud now. 

Buffythedebtslayer

Jellytotts said:

We have several different savings pots but always try and have a chunk of premium bonds too, we’ve found that you need to buy in chunks of £1k or more to get a better chance of winning anything (probably no mathematical logic to it but hey ho).  We treat that as our “do not touch under any circumstances” money.  It’s basically enough to cover a funeral and house sale/purchase fees so if the SHTF, we know the other one is safe financially for a while). On average this year we’ve had a 2% return on it through winnings which is not bad at all.

I do like this idea of SHTF money.  Definitely don't have that, as included my emergency fund in my savings for a house conversation with the mortgage guy....oops. I have had my little 250 since 2004 and never won anything. 
I have cancelled the peer to peer money and one charity I paid to. Felt guilty re charity but I try and have one for each thing (kids, animals, international aid, environment, health plus Donkeys, cos well. I like donkeys!) 
I  need to cancel audible as well. All I do is listen to Harry Potter on repeat and I have LOADS of books I just don't listen to. I am also not great at listening to them, I fall asleep too easily. 
Only got two weeks left to prepare for the pending disaster that will be school. Slightly FREAKED. And so disappointed in myself that I haven't done more during lockdown. Unfortunately I found it really difficult to do stuff with Mum, she likes things as they are - even if she says different her actions are the thing. And I get it, it is all hard and much easier to ignore daily - tho I do know long term it is tiring. 

Buffythedebtslayer

My inner seven year old won the day today. Sulky moody stroppy little tart. I have had the right hump ALLLLLL day.. Yay. Cleaned out the animals and did nothing else. Nothing. couldn't even nap. 
XXXX

Buffythedebtslayer

Turns out I have two credits on Audible. 
And I have decided to pay into an NSI account. 25 a month and ignore it forever. The interest is pants but once I save enough it can go over to premium bonds.  
I will only pay into the premium bonds When I own my own place   

Buffythedebtslayer

That is all done now. I am looking at that as long term savings for the old people's home. I will have to up it (just worked out that if I save 25 X12, x 20 years that would only get me 6000 pounds. Can you IMAGINE if you could go back to your sixteen year old self and say save some money you silly cow. Wow. almost anything would help. 
I am having a small Pimms Hic  to celebrate the opening of another savings account, the upping of my savings amounts to 725 a month. 
Currents savings including everything 
= 9490.  
Not bad at all. 
XXX 

beanielou

Good going. 

You are saving just about my monthly income. 

Stay focused 😊. Xx