How many regular savers do you have? - The League Table

friolento

The “league table” in the thread title suggests it is a competition. It’s one reason why I don’t share my RS summary.

Bobblehat

https://forums.moneysavingexpert.com/discussion/comment/82091183#Comment_82091183

If you've been following this thread (and its earlier form), I'm surprised to hear that you think there is anything really "competitive" about the table. Several contributors have commented on the thread's light-heartedness or fun feeling compared to more serious alternative thread(s).

Contributors to the thread have continued to send their updates knowing full well that they have no chance (or inclination) to catch the League "leaders", but presumably have continued to send updates in the spirit that forumites may compare their own holdings against a range of others' holdings. That range includes the contributors who light-heartedly submitted only holding 1 or even holding zero RSs, which I included in the table for completeness. There are several examples of contributors who are happy to send updates showing large decreases in their holdings and with useful explanations as to why they have chosen to lower their holdings. No sign of competitiveness there!

If the thread has any "serious" side to it, it's to promote discussion (now transferred to the main @Bridlington1 RS thread) about why forumites hold such a wide range of RSs and how they manage to administer them.

I understand that this thread may not be everyone's cup of tea, but I'm happy to keep compiling the updates while forumites still find it interesting or useful. I'm very grateful to those that have contributed and work on the principle that the more data that people are willing to send in, the more useful or even thought-provoking it could be to other viewers.

masonic

I see it merely as collecting a cross-section of real world examples of people experiences collecting RS. It does also help dispel the misconception that RS aren't useful when you have a lot of savings.

Fingerbobs

I don't see this as a competition at all, I'm just finding it interesting to see what others are doing.

Feel free to add my data, if you want:

Solo: 10
Inc Others: 0
Per Month: 2160
Current Value: 11370
Weighted Average Interest: 6.97%
Min % for New RS: 7%
Lowest Active Interest Rate: 6.5%

Hopefully the weighted average will start going up as the balances in the LBG 8%ers increases 😀

Bobblehat

https://forums.moneysavingexpert.com/discussion/comment/82091912#Comment_82091912

Nail hit squarely on the head, @Fingerbobs 😀

Your data will be added and will be visible at the next update (coming weekend).

Thanks for your support.

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82091383#Comment_82091383

I agree with this, and to add to that, the usual applies, if you're not interested in a particular thread, you're more than welcome to choose not to follow this particular thread.

There are now three regular savers threads that I am the OP of to satisfy three different functions.

1. If you wish to post how many RSs you have, you can use this thread.
2. If you wish to discuss RSs and your RS strategy, reasons for having RSs etc, you can post in Top Regular Savers Discussion Thread
3. If you don't wish to read any discussion about RSs and just wish to hear the bare essential updates, you can follow the Archived History Of Regular Savers Thread *** NO CHAT*** thread.

I can't get much simpler than that.

So far as I'm concerned if people wish to post how many RSs they have in this thread, then keep the updates coming, if they don't then it's within your right to mute the thread and not make any posts here.

snookerloopy96

Apologies for the beautiful innocence of my question but what is the difference between weighted average and average?

Is it simply taking into account the value of funds in each percentage rate range?

roked

My updated numbers are as follows

Number of RS 39 (new one thanks to BOS!)

Current Pay in Per month £10475

Current value £69885

Weighted average 6.39%

Min % for new RS 5.25

Bridlington1

https://forums.moneysavingexpert.com/discussion/comment/82092057#Comment_82092057

Essentially yes. I just multiply the total balance I have in each account by the respective interest rate, sum this total and then divide by the number of pounds I have.

In other words it's the average interest rate that each pound of the money you have in RSs is earning. If you've £100 in a 7% RS and £100 in a 6% RS, your weighted average would be 6.5%, if you've £200 in a 7% RS and £100 in a 6% RS, your weighted average would be 6.6666666…..%.

I have a spreadsheet with some formulas in that calculates my weighted average, if it's useful to people I could put it in a separate spreadsheet and then share a view only link for people to download to work out their weighted average?

Bobblehat

https://forums.moneysavingexpert.com/discussion/comment/82092117#Comment_82092117

2nd paragraph …. nicely explained 😀