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

UKX69

My view, for what it’s worth, is that the list that Bobblehat’s kindly compiled is just a league table for fun and not meant to be taken too seriously to the extent that conflicting views are causing posters to drop out. As ever, things work best when kept simples. By the way, triple numbers make my 2 RS look sick!

Newly_retired

Another vote for the ( main) table being for sole account holders, not those who manage their spouse’s.

Bobblehat

Just to keep everyone in the loop, it's become apparent that there is an increasing wish amongst participants in this thread, to separate out individual holdings from combined "+ other half's" holdings of RS's. I'm working on providing a simple solution in the next update (early November) that I hope will satisfy at least the majority of contributors, and still provide the "fun" element that many have indicated they have enjoyed in this thread.

By all means, let me know what you think of the change when it's published, and please continue to submit updates as and when suits you. I'm always ready to plug the figures in when provided 

Don't forget that Bridlington1's main thread is the ideal place to reach the maximum audience for your discussions on Regular Savers, but this thread is good for the "fun stuff" about RS's. 

clairec666

Appreciating all your hard work Bobblehat

No need to add this to the spreadsheet, but would be interesting to know who else manually funds all their accounts each month, and who sets up standing orders and just lets everything run itself.
For a mid-table regular saver like myself, doing everything manually each month isn't too strenuous.

I added a neat little bit of code to my banking spreadsheet which kind of "automates" any future transactions (on the spreadsheet only, of course) so I can fast-forward in time and see what my finances will look like in a few months' time. Useful for knowing how to spread my funding around each month.
I can fast forward all the way to August next year, just before my Monmouthshire accounts mature, and it looks like my total regular saver holdings will have jumped to £37000. Natwest and RBS will have dwindled to £0 around April then will start building back up again.

This little system also makes it easy to count how many individual transactions I'll be doing over the next year... and it's rather made me realise how much time I spend on this, and that switching back to standing orders might be a wise idea.

Mind you, I spent 3 hours this morning coding this, and I don't consider that to be time wasted

Martico

OK, pop-pickers, I'm straight into the charts at number 60 (I think) this week, with two. I've had a fair few mature recently, much of which was destined for elsewhere, so I'm kind of starting again. It'd be nice to grow to one maturing per month, but that's not an immediate prospect.

So, for now, I just have two: FD and Co-op. Contributing 550 per month, current value = 850

Bobblehat

Thanks for the kind comments.

I have a hybrid system which relies on 1st & 2nd payment being manual if I open the RS at the end of a month and fund the 2nd payment on the 1st of the next month. After that it's SO until maturity. Sometimes I have to vary this because the T&C's don't allow my usual routine!

dont_use_vistaprint

I don’t have any. I always thought the rewards were just too small for all the effort of opening, managing and moving money

For example, if you had £100,000 sat earning 4.6% in a 95-day access, with the maximum effort and number of regular savers , schedules transactions etc what  would be the  increase you could get in one year 

I totally disagree with those who say the effort is minimal the process of opening and administering all those accounts is huge, and all the extra mail emails text messages cards and pin numbers, it can easily consume hours of your time, that  you could be using to make money

Bobblehat

Martico said:

OK, pop-pickers, I'm straight into the charts at number 60 (I think) this week, with two. I've had a fair few mature recently, much of which was destined for elsewhere, so I'm kind of starting again. It'd be nice to grow to one maturing per month, but that's not an immediate prospect.

So, for now, I just have two: FD and Co-op. Contributing 550 per month, current value = 850

Thanks for the fun posting 

You are currently actually Joint 40th in the chart as I sort the entries with equal counts by A-Z on their member name, (I have to pick something after the count of RS's). I regard all participants with equal RS counts as being in a "Joint" position, even if one person appears below another person in the table 

Kim_13

clairec666 said:

Appreciating all your hard work Bobblehat

No need to add this to the spreadsheet, but would be interesting to know who else manually funds all their accounts each month, and who sets up standing orders and just lets everything run itself.
For a mid-table regular saver like myself, doing everything manually each month isn't too strenuous.

I added a neat little bit of code to my banking spreadsheet which kind of "automates" any future transactions (on the spreadsheet only, of course) so I can fast-forward in time and see what my finances will look like in a few months' time. Useful for knowing how to spread my funding around each month.
I can fast forward all the way to August next year, just before my Monmouthshire accounts mature, and it looks like my total regular saver holdings will have jumped to £37000. Natwest and RBS will have dwindled to £0 around April then will start building back up again.

This little system also makes it easy to count how many individual transactions I'll be doing over the next year... and it's rather made me realise how much time I spend on this, and that switching back to standing orders might be a wise idea.

Mind you, I spent 3 hours this morning coding this, and I don't consider that to be time wasted

Manually. If I automated everything that would be a day’s interest gone, as I don’t have favourable overdraft terms to be able to afford for a SO to go earlier in the day than the funds land. Many accounts receive differing funding each month, or are funded from different accounts where terms allow based on the current accounts that are short of their minimum funding.

Recently there seems to have been an increase in forumites having valid payments returned because SOs went before the receiving institution had reset the monthly limit. 

I’ve only ever messed up three times: missing one payment into Stafford, but thankfully they don’t downgrade the account unless three are missed in a society year; accidental overfunding of a Principality account (sent £140 when the max was £125) and accidental overfunding of a Skipton account because I sent it to the already funded RS rather than the Member Bonus Saver that was my holding account at that time.

Bobblehat

dont_use_vistaprint said:

I don’t have any. I always thought the rewards were just too small for all the effort of opening, managing and moving money

For example, if you had £100,000 sat earning 4.6% in a 95-day access, with the maximum effort and number of regular savers , schedules transactions etc what  would be the  increase you could get in one year 

I totally disagree with those who say the effort is minimal the process of opening and administering all those accounts is huge, and all the extra mail emails text messages cards and pin numbers, it can easily consume hours of your time, that  you could be using to make money

Now, that's a great question for all the spreadsheet fans out there! Watch this space