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Regular Saver Thread **New and Restarted**

edited 16 November 2019 at 8:25AM in Savings & Investments
3.5K replies 624.8K views
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  • Westie983Westie983 Forumite, Board Guide
    5K posts
    Sixth Anniversary 1,000 Posts Photogenic Xmas Saver!
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    Its getting quite scary -

    I checked and I have maturity of regular savers each month till February 2019

    Feb - Virgin
    March - Santander
    April - Virgin, Kent Reliance
    May - Chorley, Ford,
    June - Virgin
    Jul - Halifax
    Aug - Virgin
    Sep - HSBC, First Direct,
    Oct - Virgin
    Nov -
    Dec - Virgin, Nationwide,
    Feb - Virgin

    With ongoing Leeds issues and Buckinghamshire, so who knows when they will stop allowing me to pay in.

    Regular Saver addiction, Thanks mostly to Virgin as i'm holding 13 issues :-)

    Westie983
    Save 12k in 2020 #33 Total (£2300) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~ 13 #97 Total (£505)+£150.00/£500 = 30.00%
    Xmas 2020 £1 a Day #8 Total (£386)+£300.00/£365 = 82.19%
    Virtual Sealed Pot #1 Total (£600)+£450.00/£500 = 90.00%
    £2 Savers Club 2020 #11 Total (£720)+£4.00/£300 = 1.33%
    Total £3404.00/£6665 = 51.07%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email [email protected]
  • stoozie1stoozie1 Forumite
    656 posts
    Westie983 that's the strategy I've just started to adopt (I'd previously had all my RS maturing at end of financial year, ready to stuff pensions and ISAs, but realised this wasn't best).

    Can I ask what the thinking is behind the months which payout 2 matured RS?
    Save 12 k in 2018 challenge member #79
    Target 2018: 24k Jan 2018- £560 April £2670
  • Westie983Westie983 Forumite, Board Guide
    5K posts
    Sixth Anniversary 1,000 Posts Photogenic Xmas Saver!
    ✭✭✭✭
    stoozie1 wrote: »
    Westie983 that's the strategy I've just started to adopt (I'd previously had all my RS maturing at end of financial year, ready to stuff pensions and ISAs, but realised this wasn't best).

    Can I ask what the thinking is behind the months which payout 2 matured RS?

    Virgin have two issues one branch and one online that both mature on the same month.

    The months that have two was because of the virgin accounts, and when I have things to pay out.

    So nationwide and Virgin pay out in Dec ready to use for Christmas.

    Kent matures ready for the new tax year and the others just fit in, and opened as if I waited the rates may have changed, (HSBC and FD mainly)

    Just finding the money to keep them all going is tough, but the money gets filtered back into Virgin (if they keep offering new issues)

    Westie983
    Save 12k in 2020 #33 Total (£2300) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~ 13 #97 Total (£505)+£150.00/£500 = 30.00%
    Xmas 2020 £1 a Day #8 Total (£386)+£300.00/£365 = 82.19%
    Virtual Sealed Pot #1 Total (£600)+£450.00/£500 = 90.00%
    £2 Savers Club 2020 #11 Total (£720)+£4.00/£300 = 1.33%
    Total £3404.00/£6665 = 51.07%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email [email protected]
  • EachPennyEachPenny Forumite
    12.2K posts
    ✭✭✭✭✭
    Westie983 wrote: »
    Its getting quite scary -
    Scary that you have nothing maturing in November... what are you going to do for money that month? ;)

    Mine are more 'lumpy'. I have up to four maturing in some months, others there's nothing, but when I opened them it was a case of opening them asap to start earning, rather than having a more even spread.

    At the current rate hopefully I'll have drawn down several interest paying current accounts before the Tesco DD issue kicks in.
    "In the future, everyone will be rich for 15 minutes"
  • Hydro1Hydro1 Forumite
    33 posts
    I have been funding a few Virgin RS each month. Virgin say that an account fully funded with 14 monthly payments of £250 will earn £49.22 interest. If my sums are correct, I would be marginally better off abandoning the RS and leaving my money in a Tesco Internet Saver paying 1.35% or a Post Office Saver paying 1.30%. Am I missing something, like a decent calculator ?
  • glider3560glider3560 Forumite
    4K posts
    Part of the Furniture 1,000 Posts
    ✭✭✭✭
    Hydro1 wrote: »
    I have been funding a few Virgin RS each month. Virgin say that an account fully funded with 14 monthly payments of £250 will earn £49.22 interest. If my sums are correct, I would be marginally better off abandoning the RS and leaving my money in a Tesco Internet Saver paying 1.35% or a Post Office Saver paying 1.30%. Am I missing something, like a decent calculator ?

    You're forgetting that your money will be in another account for half the year before going into the regular saver.

    A common misconception on here...!

  • Hydro1Hydro1 Forumite
    33 posts
    So the good news is the calculator is fine, the bad news is the brain is muddled !
  • veryintriguedveryintrigued Forumite
    3.2K posts
    Part of the Furniture 1,000 Posts Name Dropper
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    This thread has turned into the 'chatty Regular Saver thread' rather than just highlighting genuine new issues or changes.

    Let's hope it doesn't get marked as Spam and disappear again!
  • AshenAshen Forumite
    573 posts
    Part of the Furniture 500 Posts Name Dropper
    ✭✭
    I accidentally paid in £200 to my Saffron RS when there had already been a deposit of £200 this month from renewing it after it matured - does anyone know what would happen in this situation?
  • Westie983Westie983 Forumite, Board Guide
    5K posts
    Sixth Anniversary 1,000 Posts Photogenic Xmas Saver!
    ✭✭✭✭
    EachPenny wrote: »
    Scary that you have nothing maturing in November... what are you going to do for money that month? ;)

    Mine are more 'lumpy'. I have up to four maturing in some months, others there's nothing, but when I opened them it was a case of opening them asap to start earning, rather than having a more even spread.

    At the current rate hopefully I'll have drawn down several interest paying current accounts before the Tesco DD issue kicks in.

    It will be okay as Ill have two maturing 1st December :-P

    Westie983
    Save 12k in 2020 #33 Total (£2300) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~ 13 #97 Total (£505)+£150.00/£500 = 30.00%
    Xmas 2020 £1 a Day #8 Total (£386)+£300.00/£365 = 82.19%
    Virtual Sealed Pot #1 Total (£600)+£450.00/£500 = 90.00%
    £2 Savers Club 2020 #11 Total (£720)+£4.00/£300 = 1.33%
    Total £3404.00/£6665 = 51.07%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email [email protected]
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