How much do you keep in readily access savings/cash access?

ZeroSum

MichaelAP said:

ZeroSum said:

MichaelAP said:

I keep a NatWest Current Account float that must have £1000 left at the end of the month.
Anything leftover goes to a standby savings account on a pittance interest (thank you NOT NatWest) titled “Immediates”. This I use for anything out of the blue and allow to grow to £10,000.
Anything above that £10,000 gets shifted around several other Online Banks: ZOPA 7 day & 95 day pots to name but one bank. 

Again, like the other posters, why are you keeping £10k with natwest that pays pittance? There's any amount of better options that have instant access via faster payments.

You'd be better off getting a virgin current account, the £1000 float earns 2%, and the £10k in the linked savings earning 1.71%

I know it pays a pittance…. I already said that. I also know of other places where that £10,000 is better off; as this is where well over 95% of my savings are already sent.
However, there is a specific reason why I have that £10k in that pittance savings account (again I say thank you NOT NatWest). There is a reason why it is called “Immediates”…. It is used for making large sum payments practically every month, so I don’t need to be recommended where to place it thank you. 

No need for the attitude. I was being helpful.

First of all, I never said that you didn't know I paid pittance, I was simply asking why you has the money there since you knew it was rubbish.

Why are you making sarky comments about natwest when it's completely self inflicted given that's where you choose to place it?

Tbh, with your attitude you deserve to be ripped off, for all I care

ossie48

£50k ..which is about 20% of our investments. It feels about right with a new kitchen on the horizon. 

enthusiasticsaver

We have around £30k in cash but £15k earmarked for various things. We are retired and living off DB pensions so the cash is to subsidise that until our state pensions kick in or the stock market recovers enough for me to be comfortable drawing on investments. 

MichaelAP

ZeroSum said:

MichaelAP said:

ZeroSum said:

MichaelAP said:

I keep a NatWest Current Account float that must have £1000 left at the end of the month.
Anything leftover goes to a standby savings account on a pittance interest (thank you NOT NatWest) titled “Immediates”. This I use for anything out of the blue and allow to grow to £10,000.
Anything above that £10,000 gets shifted around several other Online Banks: ZOPA 7 day & 95 day pots to name but one bank. 

Again, like the other posters, why are you keeping £10k with natwest that pays pittance? There's any amount of better options that have instant access via faster payments.

You'd be better off getting a virgin current account, the £1000 float earns 2%, and the £10k in the linked savings earning 1.71%

I know it pays a pittance…. I already said that. I also know of other places where that £10,000 is better off; as this is where well over 95% of my savings are already sent.
However, there is a specific reason why I have that £10k in that pittance savings account (again I say thank you NOT NatWest). There is a reason why it is called “Immediates”…. It is used for making large sum payments practically every month, so I don’t need to be recommended where to place it thank you. 

Tbh, with your attitude you deserve to be ripped off, for all I care

I’m not sure what shocks me the most…. Your comment saying I deserve to be ripped off or the fact you received a Thank You for saying it.

The problem with forum comments are that you cannot see or hear how the person is reacting to a post…. I was not speaking with attitude as you believe.
Anyway, it matters little…… Thank you for the other parts of your comments.

GazzaBloom

£10K as an emergency fund in a cash ISA just to keep it separate from my current account, currently it's £15K but I plan to spend the £5K at some point next year. We're mortgage & debt free and everything over the £10K goes into pensions (100% stocks tracker funds) then S&S ISA.

If I have to dip into the emergency fund, like I did earlier this year for a unexpected car repair then my priority is to get it topped back up as soon as I can.

Avoid debt and borrowing if you can would be my recommendation. 

GazzaBloom

ossie48 said:

£50k ..which is about 20% of our investments. It feels about right with a new kitchen on the horizon. 

Definitely! We're now doing our kitchen/utility & downstairs toilet re-modelling (strip back to plaster & concrete floor and new everything plus full re-plastering and it's been a bit of a money pit. I budgeted £15K originally but we're at £30K just as the work starts! It's quite high spec though.

MEM62

InvesterJones said:

MEM62 said:

Currently, I have a £2,000 buffer in my current account and £5,000 in a Marcus account.  We also have a £3,000 buffer in our joint account.  If either one of us lost our income, we have sufficient reserves in cash to last around 12 months.   

£10k is an impressive estimate for 12 months living for two!

Impressive in what way?  

solidpro

I've got £100,000 in NS&I and in 30 years I hope to spend it all on a Mars bar.

Exodi

I keep about 3 months of living expenses as cash - though I have a 6 month notice period, so I'd technically have 9 months to 'find my feet' should I lose my job.

I can't justify holding anymore than 3 months expenses in easy access savings at ~1.8%, seems like wasted potential. Even during this trainwreck of a year, my DCA'd investments are up about 5% YTD.

But then I am relatively young (30), sal sac 15% and putting any surplus income into a S&S ISA with the long term objective (10-15 years) of paying off the mortgage when my portfolio value equals my outstanding mortgage balance. I just don't have a need to hold tens of thousands of pounds in cash.

Rich1976

We currently hold about 8 months as an emergency fund and on top of that we are saving for holidays, a replacement car, home improvements as well as general stuff like car maintenance or if something breaks down at home.