Cahoot Sunny Day Saver / Simple Saver

friolento

Keeping records of where you have what money, and diarising key events (e.g. dates for monthly deposits, maturity dates) is critical - though not difficult - if you have several accounts. People use whatever suits them - personal finance managers (MS Office, Acemoney etc), home-made spreadsheets, digital diaries, paper diaries, notebooks etc. You also want a secure way of storing your account login information, e.g. with a password manager. It sounds you can manage all this quite easily as you say you are organised and dedicated.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/81981717#Comment_81981717

If you are generally organised person it shouldn't be a problem for you to manage a handful of Cahoots and a few regular savers. Just need to keep a record of the accounts you have and diarise the events (maturities, deposits etc.). ✍️

Yorkie1

Bear in mind that some regular savers are less flexible than others. For example, some might not allow you to pause contributions, or don't allow early withdrawal (without an interest penalty). Just make sure you do your research first.

nottsphil

https://forums.moneysavingexpert.com/discussion/comment/81982038#Comment_81982038

I had one of each but accepted Cahoot's rather odd offer to upgrade the Simple a few weeks ago. Now I want a Simple again for when the others are full (does 3 count as a handful?). Would applying for it jeopardise the other two?

allegro120

https://forums.moneysavingexpert.com/discussion/comment/81989605#Comment_81989605

In my experience it shouldn't jeopardise your existing accounts.

silvermum

Have I missed another discussion somewhere where people are managing to open more than one Cahoot Simple Saver?

ThePirates

https://forums.moneysavingexpert.com/discussion/comment/81990406#Comment_81990406

Yup! I have more than I can count on 1 hand...

janusd

https://forums.moneysavingexpert.com/discussion/comment/81990406#Comment_81990406

you can have as many Simple Savers as you want (even of same issue) - unlike SDS where there is a limit mentioned in the t&c (coughs), that is not the case with Simple Savers.

yesterday, I upgraded 4 of my older issue Simple Savers (10,11 & 13) all paying 4.40% until Monday when it drops to 4.15%, to Issue 16 paying 4.17% - convenient for me as most of my SDS pay interest on the 6th.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/81990448#Comment_81990448

I'm up to both hands and feet. Might start counting ears and nose when new issues are released.

DRS1

Given you can hold £500k in a simple saver and get interest on it I am wondering why people have 20+ of them!