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Saving for a wedding (and general savings) - advice needed.
Ingsy
Forumite 174 Posts
Hello, I wonder if someone on here can help me. I'm due to get married in October and am after some advice about savings - we've already our budgets for the big day sorted. Currently my partner & I both save the max into our ISA but we're after some extra high interest savings - ICICI account?
I've found the Capital One 1% cachback (on everything) card with 0% interest on purchase until Novmber 2008. So my plan was to get that card, use it for everyday purchases (petrol, food etc) and put the equivalent money each month into a savings account (via Direct Debit as we know what our bills for these are each month). I also thought that big expenses for the wedding which can be paid for by card (dress, rings etc) could be put on this card - which gets us the cashback and allows the money to stay in our ISAs etc until Nov when we pay the card off.
Also, extra everyday expenditure could be put on this card with us moving the money spent from our current account to the new saving account getting us interest until the bill needs to be paid.
Obivously we have to keep track of how much we've spent so we know we can clear the bill, and only pay the minimum off the card each month.
So, get to my questions, would my plan work? Does the ICICI account let you set up a DD each month, plus let you pay extra in whenever you want? Is there a better way to work things out?
Many thanks.
I've found the Capital One 1% cachback (on everything) card with 0% interest on purchase until Novmber 2008. So my plan was to get that card, use it for everyday purchases (petrol, food etc) and put the equivalent money each month into a savings account (via Direct Debit as we know what our bills for these are each month). I also thought that big expenses for the wedding which can be paid for by card (dress, rings etc) could be put on this card - which gets us the cashback and allows the money to stay in our ISAs etc until Nov when we pay the card off.
Also, extra everyday expenditure could be put on this card with us moving the money spent from our current account to the new saving account getting us interest until the bill needs to be paid.
Obivously we have to keep track of how much we've spent so we know we can clear the bill, and only pay the minimum off the card each month.
So, get to my questions, would my plan work? Does the ICICI account let you set up a DD each month, plus let you pay extra in whenever you want? Is there a better way to work things out?
Many thanks.
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