Best for accessible savings

twitches

Hi, I want to save £1000 a month. I only have current accounts, as the money that I transfer to what I use as a saver I still want to be able to access for home improvements as and when. What is best for me to do/ where should I put my savings. Should I split the money between an easy access pot and a high rate saver? I have no idea how this works!

Albermarle

Read this;

Savings | MoneySavingExpert

Cisco001

Flexible Easy Access Cash isa

Multiple regular saver account that allow withdraw.

Newbie_John

Any idea when you would need money? 1,3,5.. years? Do you earn more than £50k?

Each has pros and cons, nornal saving accounts, regular savers - linits and potential tax if you go over your allowed amount.

Cash ISAs, all the best names offering 4.5% actually offer something like 3% + 1.5% bonus for a year so you need switching every year..

I would open free trading platofrm S&S ISA like Barclays Smart Investor and buy £1000 of Royal London Short Term Money Market Accumulative, returns roughly 4% and easy access, tax free, no "bonuses" just always close to best rate out there.

LHW99

I would open free trading platofrm S&S ISA like Barclays Smart
Investor and buy £1000 of Royal London Short Term Money Market
Accumulative, returns roughly 4% and easy access, tax free, no "bonuses"
just always close to best rate out there.

Except that I believe the new rules will mean that you can't have 100% money market fund in an S&S ISA from April 2027. You'd need to buy one share / unit of something.