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

Bobblehat

https://forums.moneysavingexpert.com/discussion/comment/81865136#Comment_81865136

That's a good average on 13 RSs 😀 …. welcome to the League Table!

Catplan

My Feb totals are 23 open RS all fully funded £5750

dcs34

Feb totals: 42 RS - £13,260 monthly funding total - weighted average 6.2% - current total RS balance just over £88k following Feb 1st funding.

Current strategy is to open and fully fund all regular savers with a rate >5% that I can reasonably open (i.e. excluding loyalty / postcode / branch restrictions I can't meet). I'll probably keep that threshold even if the BoE prompts a few variable rate cuts as the monthly funding requirements are starting to get quite tricky (and there's probably a better use for the money vis-a-vis tax-efficiency, but I'm hooked on this regular saver game!).

Bobblehat

@dcs34 …..

Straight in for a new entry at No. 10 … welcome to the League Table 😀

I'll do an update in a couple of days to show the new data …. there may be a few more updates to come after todays SO etc.

SH88SH88

@Bobblehat

Perhaps it would be worthwhile adding a new column to the table showing "weighted average %" ?.

Some people have already supplied it and, IMHO, it adds some context to people's stats.

Kim_13

I ideally wanted to open Mansfield at the end of March but lost my nerve and sent off for it today, so that’ll be 26 when opened. Guess that means my threshold for opening variable accounts is now 6%, though as with the 5% fixed Suffolk I have, it was the £500 deposit limit that swung it. For smaller deposits it will be 5.5% fixed, 6.5% variable.

Martico

Jan 31 tax bill was more spicy than I'd anticipated, so I had to raid one of my two RSs. So that's brought me down to:

Two RSs

Monthly contribution £550

Curent total £2500

Bobblehat

https://forums.moneysavingexpert.com/discussion/comment/81866840#Comment_81866840

I could add such a column if there were enough interest shown by contributors? I can only remember a small number of people mentioning their "weighted average", but that might just be my faulty memory 😀.

Of course, to be meaningful, we would all have to use the same method of calculating the figure! Let's see what interest is shown.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81866980#Comment_81866980

I'm one of the small number, but I think it is potentially a more useful metric as there is only one way of calculating it (unlike the annual return which is being calculated in different ways). Weighted average can only be the sum of (current balance x rate) all divided by total balance.

Bobblehat

https://forums.moneysavingexpert.com/discussion/comment/81866999#Comment_81866999

Using the method you described, I'm happy to see 6.21% as my current Weighted Average figure. So we have potentially 4 or 5 figures to populate the column 😀