Being nosey... How many Regular Saver accounts do you have?

topyam

Starting to find this is addictive!
I have five now..

How many does everybody else on here have?

la531983

Thanks for telling us what RS stands for....

JGB1955

la531983 said:

Thanks for telling us what RS stands for....

Regular Savings accounts

clairec666

I currently have 18, although two of them I haven't funded for a couple of months.

18 months ago I only had 5, so watch out @topyam your collection will probably keep growing!

18 feels like a lot to me, but I know others here have many, many more.
I don't earn anywhere near enough to fund all my accounts each month - most of them are funded from previous years' accounts maturing.

topyam

Most of my five are the top ones, and I'm finding myself wondering what to set my criteria for opening at in terms of the minimum interest rate that I would consider. Though learning that the amount you can deposit each month is important too.
So have a RS at 6% with a £500 limit each month, but the majority are 7% and over with lower limits. 

It's hard too to know what way things will go, and if things will get better or worse. 

Been looking at the Scottish BS offering and wondering whether to consider 6.5% but it isn't the simplest account atm. So potential ease of opening and use is a consideration i guess too. 

surreysaver

I've got 54, although some of them I only fund with the minimum that the T&Cs allow as they aren't as competitive as when I opened them

subjecttocontract

The number of reg savers varies regularly as some mature and new ones are added. Currently I have 23, they require almost £6000 a month to service and the total value is almost £40K.

Tree_pipe99

I might consider doing this but I'm not sure how much effort (hours) it would take, and potentially how much extra I could make compared to 1 standard savings account?

I guess I'm asking if this is more of a hobby and I'd effectively be working for minimum wage. 

subjecttocontract

My 23 reg saver have a projected annual return of around £2500. I just pay them all by standing order so it doesn't take up much of my time.

arthurdick

Up until around 2.5 years ago, I only had 2 bank accounts, the Halifax and Chelsea, now thanks to some savvy savers on the top RS thread, I now have around  25 bank or BS accounts, and roughly 36 RS's.  I have learned a lot from Bridlington, soulsaver and surrey saver,  they are the 3 I remember off the top of my head.  Not all fully funded but  keeping and opening accounts just in case they launch good rate offers in the future.  I am with a few banks, that, if not from the top RS thread and Moneyfacts , I would have never known about.

friolento

Tree_pipe99 said:

I might consider doing this but I'm not sure how much effort (hours) it would take, and potentially how much extra I could make compared to 1 standard savings account?

I guess I'm asking if this is more of a hobby and I'd effectively be working for minimum wage. 

You can use the MSE Regular Saver calculator to help you figure out the extra money you can make. Effort to manage an RS is minimal in my experience, and for many people “pays” a vastly higher hourly rate than their job does, and way above minimum wage. Whether it floats your boat, only you can tell. It certainly does mine, I have over 3 dozen RSs atm.

 https://www.moneysavingexpert.com/savings/regular-savings-calculator/