To use regular savers or not

trickydicky14

Theleak250 said:

The way I do it is, yearly and then add to a bucket.

For example over the last year I have four regular savers on the go. They will mature next month, at which point all of the cash will go into a notice saver and then I will start again with another four regular savers. I “only” have 13k so I am going to put some of it into Barclays Rainey day and the rest into an account I find on mse. Whichever is paying the best rate then. A notice account. 

yes I could send the 13k already saved into further savers but I will run out of accounts I suspect and it gets a bit complicated. 

I find having regular savers you have to fill up also helps with motivation to save. If I miss a month it’s very annoying. But obviously sometimes life throws you something that costs unexpectedly! Another thing is to consider, if you are able to put the money away and not need it, it would be worth locking it away for five years at a good rate because who knows what will happen with the rates. But im
not in a position to do that myself personally.

Interest rates would have to be much more generous for me to sign up to a 5 year savings account, a lot can happen in a year let alone 5 years but that’s just my opinion. Just keep plugging away at the RS's.

friolento

topyam said:

 . Any current accounts I have are with providers that don't offer Regular Saver accounts. 

In this case, you should be looking at getting current accounts that give you access to these RSs.

Make use of the switch incentive offerings. For example, the First Direct one. You do not need to touch your main current account to do this. If you don’t already have a disposable current account, just set one (or two) up, then switch it. The Chase app is a good source for setting up multiple current accounts quickly. Lots of info on switching on the forum. Collect your switch bonus, use the RS. 

Bridlington1

friolento said:

topyam said:

 . Any current accounts I have are with providers that don't offer Regular Saver accounts. 

In this case, you should be looking at getting current accounts that give you access to these RSs.

Make use of the switch incentive offerings. For example, the First Direct one. You do not need to touch your main current account to do this. If you don’t already have a disposable current account, just set one (or two) up, then switch it. The Chase app is a good source for setting up multiple current accounts quickly. Lots of info on switching on the forum. Collect your switch bonus, use the RS. 

It's also worth checking the likes of TopCashback, Quidco etc before opening the current accounts to see if you can get a spot of cashback for opening the current accounts on top of the switching offers.