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

Kim_13

clairec666 said:

I don't know how we'd measure it, but I wonder from our little league table who is the most successful at spreading their regular savers throughout the year. Even though I'm languishing in mid-table, I reckon I've done a good job of spreading my 18 accounts evenly throughout the year. Over next year I've got either one or two maturing each month. Which means the money can be pumped straight back into the system and won't be languishing in easy access accounts.

Haven't really thought through the maths behind it, but taking the "Value" column divided by the "PM" column should give a good indication of spread.

For me, I’d count PM as the amount I expected to fund each month (which is variable) rather than the total capacity of the RS accounts. I could fill in value fairly easily with a new spreadsheet though (current version lists total value of all cash savings.)

Mine are just getting towards 1 per month, although with a little adjustment. Principality Christmas will spend about a week in an EA after maturing later this month before funding November; MHBS matures on 30/11 but being a Sunday, that will be December’s. Then Principality Healthy Habits will spend Christmas and New Year in the EA before being January’s. 6 Month Principality Issue 4 is up at the end of February and Halifax in April. Loughborough Holiday Monthly Saver will have to count as June I suspect, as it looks like a postal withdrawal and cheque will be necessary. For July I have Dudley, August Monmouthshire (though being the biggest and maturing at the end of the month it will do for September too.) October Progressive, and Scottish will be opened later this month to be used to fund November 2026. 

There are months with two in, and I haven’t yet renewed Nationwide or Skipton so should be able to grab those in a month with no new accounts, as they have a fairly consistent record of having an RS available of late.

clairec666

Bobblehat said:

clairec666 said:

I don't know how we'd measure it, but I wonder from our little league table who is the most successful at spreading their regular savers throughout the year. Even though I'm languishing in mid-table, I reckon I've done a good job of spreading my 18 accounts evenly throughout the year. Over next year I've got either one or two maturing each month. Which means the money can be pumped straight back into the system and won't be languishing in easy access accounts.

Haven't really thought through the maths behind it, but taking the "Value" column divided by the "PM" column should give a good indication of spread.

Except for those contributors who have recently got the bug and opened several or even double-figures quite rapidly 

Ah, good point. I guess a low number would indicate that you've got several recently opened accounts, and a high number suggests you've got several that are close to fully funded and about to mature. So a "good spread" would be somewhere in the middle!

topyam

Just started a few months here.
Been picking the high rates just atm. Anything 7% or over is getting snapped up. And the odd ones that are 6% and over with a large monthly deposit limit (eg First Trust). 
I suspect I will have a lot maturing around the same time next year. 

I guess it takes a while before you get to that ideal scenario of having ones maturing each month.

For those who have been at it a while, are particular months better than others for RS being offered?
Also - do many offer Christmas ones?

Bobblehat

clairec666 said:

Bobblehat said:

clairec666 said:

I don't know how we'd measure it, but I wonder from our little league table who is the most successful at spreading their regular savers throughout the year. Even though I'm languishing in mid-table, I reckon I've done a good job of spreading my 18 accounts evenly throughout the year. Over next year I've got either one or two maturing each month. Which means the money can be pumped straight back into the system and won't be languishing in easy access accounts.

Haven't really thought through the maths behind it, but taking the "Value" column divided by the "PM" column should give a good indication of spread.

Except for those contributors who have recently got the bug and opened several or even double-figures quite rapidly 

Ah, good point. I guess a low number would indicate that you've got several recently opened accounts, and a high number suggests you've got several that are close to fully funded and about to mature. So a "good spread" would be somewhere in the middle!

I'm no expert mathematician but I think with the data we have, it probably would be a flawed exercise. My best guess is that the league leaders would statistically show the most even spread, but it is just a guess!

Originally, I was trying to build up to 1 RS per month maturing, but with several offers that were too good to miss over the last few months that went out the window. Now having some months with 2 or even 3 maturing in future months, I realised that there really was no need to restrict myself to 12 on the go when there are still some funds available (or soon to be) sat in EA! I'll be putting more and more into RS's in the future for as long as the rate (minus tax) exceeds ISA rates. It's discussions here and in the main RS thread that have swayed me to be a bit more adventurous! 

clairec666

topyam said:

Just started a few months here.
Been picking the high rates just atm. Anything 7% or over is getting snapped up. And the odd ones that are 6% and over with a large monthly deposit limit (eg First Trust). 
I suspect I will have a lot maturing around the same time next year. 

I guess it takes a while before you get to that ideal scenario of having ones maturing each month.

For those who have been at it a while, are particular months better than others for RS being offered?
Also - do many offer Christmas ones?

There are some good reliable accounts that seem to be available year-round with a steady interest rate (I'm thinking Co-op, Nationwide, First Direct) so if you want to get the perfect spread, you could risk not opening these and hopefully rely on them being available at a later date.

Then there are smaller providers who pop up with a great new account from time to time but it might only be available for a month or so. If you look at the main regular saver thread, they're the ones that seem to occupy a lot of the discussion, for various reasons!

Not sure about any months being better than others. As for Christmas accounts, Principality offered a good one last year. I think it became available late October / early November. Can't recall any others.

clairec666

Bobblehat said:

clairec666 said:

Bobblehat said:

clairec666 said:

I don't know how we'd measure it, but I wonder from our little league table who is the most successful at spreading their regular savers throughout the year. Even though I'm languishing in mid-table, I reckon I've done a good job of spreading my 18 accounts evenly throughout the year. Over next year I've got either one or two maturing each month. Which means the money can be pumped straight back into the system and won't be languishing in easy access accounts.

Haven't really thought through the maths behind it, but taking the "Value" column divided by the "PM" column should give a good indication of spread.

Except for those contributors who have recently got the bug and opened several or even double-figures quite rapidly 

Ah, good point. I guess a low number would indicate that you've got several recently opened accounts, and a high number suggests you've got several that are close to fully funded and about to mature. So a "good spread" would be somewhere in the middle!

I'm no expert mathematician but I think with the data we have, it probably would be a flawed exercise. My best guess is that the league leaders would statistically show the most even spread, but it is just a guess!

Originally, I was trying to build up to 1 RS per month maturing, but with several offers that were too good to miss over the last few months that went out the window. Now having some months with 2 or even 3 maturing in future months, I realised that there really was no need to restrict myself to 12 on the go when there are still some funds available (or soon to be) sat in EA! I'll be putting more and more into RS's in the future for as long as the rate (minus tax) exceeds ISA rates. It's discussions here and in the main RS thread that have swayed me to be a bit more adventurous! 

I think I got a bit too obsessed with trying to get a mathematically perfect spread over the year, and risked missing out on some good new accounts because they didn't fit neatly into my system. I probably wouldn't have heard of Monmouthshire, Darlington or Progressive if it wasn't for this forum.

I've not really got the funds for any more accounts at the moment (except for renewing Principality/Nationwide which are maturing in the next couple of months), so the wise course of action would be to stop looking at this forum, then check back in when I've got room for a new account. Probably won't happen though

Bobblehat

clairec666 said:

Bobblehat said:

clairec666 said:

Bobblehat said:

clairec666 said:

I don't know how we'd measure it, but I wonder from our little league table who is the most successful at spreading their regular savers throughout the year. Even though I'm languishing in mid-table, I reckon I've done a good job of spreading my 18 accounts evenly throughout the year. Over next year I've got either one or two maturing each month. Which means the money can be pumped straight back into the system and won't be languishing in easy access accounts.

Haven't really thought through the maths behind it, but taking the "Value" column divided by the "PM" column should give a good indication of spread.

Except for those contributors who have recently got the bug and opened several or even double-figures quite rapidly 

Ah, good point. I guess a low number would indicate that you've got several recently opened accounts, and a high number suggests you've got several that are close to fully funded and about to mature. So a "good spread" would be somewhere in the middle!

I'm no expert mathematician but I think with the data we have, it probably would be a flawed exercise. My best guess is that the league leaders would statistically show the most even spread, but it is just a guess!

Originally, I was trying to build up to 1 RS per month maturing, but with several offers that were too good to miss over the last few months that went out the window. Now having some months with 2 or even 3 maturing in future months, I realised that there really was no need to restrict myself to 12 on the go when there are still some funds available (or soon to be) sat in EA! I'll be putting more and more into RS's in the future for as long as the rate (minus tax) exceeds ISA rates. It's discussions here and in the main RS thread that have swayed me to be a bit more adventurous! 

I think I got a bit too obsessed with trying to get a mathematically perfect spread over the year, and risked missing out on some good new accounts because they didn't fit neatly into my system. I probably wouldn't have heard of Monmouthshire, Darlington or Progressive if it wasn't for this forum.

I've not really got the funds for any more accounts at the moment (except for renewing Principality/Nationwide which are maturing in the next couple of months), so the wise course of action would be to stop looking at this forum, then check back in when I've got room for a new account. Probably won't happen though

An interesting strategy was mentioned recently that has been churning over in the back of my mind since I read it. One where RS savers have been drawing down or closing lower rate paying RS's to fund higher rate paying new RS's. It might be old-hat to forumites who have played the RS game for a long time, but it is a new concept to me. I'm lucky (some might say daft!) at the moment to not need to do that as there are funds available at 4.75% in EA that could be working harder for me ... and I will do something about that going forward. 

n15h

Bobblehat said:

Some more additions ...

I am truly impressed by the number of accounts that many of the posters have! I never understood the benefit of regular savings until more recently, and now I'm wishing I started earlier - looks like I've caught the bug. I only have 2 so far (N/wide and Virgin) and will be applying for a 3rd one this week (the Progressive RS launched this week). I'll be paying more attention to the RS threads for new RS products and one day i'll hopefully be a part of the double digit club. As the saying goes, the best time to start was yesterday. The next best time is today (ok i may have paraphrased!)

Bobblehat

topyam said:

Just started a few months here.
Been picking the high rates just atm. Anything 7% or over is getting snapped up. And the odd ones that are 6% and over with a large monthly deposit limit (eg First Trust). 
I suspect I will have a lot maturing around the same time next year. 

I guess it takes a while before you get to that ideal scenario of having ones maturing each month.

For those who have been at it a while, are particular months better than others for RS being offered?
Also - do many offer Christmas ones?

In the last couple of years there has been a bit of "good news" RS activity around or just prior to "Savings Week", so August and September. This year, and well covered by recent discussion, the offerings seem to be somewhat fewer than previous years. I'm sure RS enthusiasts will be keeping a sharp eye open next year hoping that this year was just a blip.

topyam

Bobblehat said:

topyam said:

Just started a few months here.
Been picking the high rates just atm. Anything 7% or over is getting snapped up. And the odd ones that are 6% and over with a large monthly deposit limit (eg First Trust). 
I suspect I will have a lot maturing around the same time next year. 

I guess it takes a while before you get to that ideal scenario of having ones maturing each month.

For those who have been at it a while, are particular months better than others for RS being offered?
Also - do many offer Christmas ones?

In the last couple of years there has been a bit of "good news" RS activity around or just prior to "Savings Week", so August and September. This year, and well covered by recent discussion, the offerings seem to be somewhat fewer than previous years. I'm sure RS enthusiasts will be keeping a sharp eye open next year hoping that this year was just a blip.

The offerings after Savings Week seem to have been better than the actual week!