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  • FIRST POST
    • cloud84
    • By cloud84 12th Jan 19, 12:22 PM
    • 31Posts
    • 4Thanks
    cloud84
    Little bit of advice needed
    • #1
    • 12th Jan 19, 12:22 PM
    Little bit of advice needed 12th Jan 19 at 12:22 PM
    Hello, I need a bit of advice about my savings, I've been looking into different accounts etc for a number of weeks now I've basically confused myself on what to do.

    This is my situation, I have 10000 saved and 1000 in a current account (halifax). I never owned a home but looking to in the next 3 to 4 year (my partner owes the home we currently live in) The savings is currently in a very old isa (lloyds).

    At the moment I can only save 50 a month hopefully this will change in the coming months. I don't know where to put my savings I need instant access and online/app viewing.

    I know for a 34 year old it's not a lot of savings but i want to get the most from it.

    Thanks for any help
Page 1
    • fiestaman87
    • By fiestaman87 12th Jan 19, 1:11 PM
    • 44 Posts
    • 47 Thanks
    fiestaman87
    • #2
    • 12th Jan 19, 1:11 PM
    • #2
    • 12th Jan 19, 1:11 PM
    I would look at transfering (not withdrawing) 4k of the 10K from Lloyds into the best interest rate paying Lifetime Isa for a start.
    Total Savings: HSBC 2000, Marcus 1001.91, Virgin Money 1000.19 - Total 4002.10
    Total Debt: Barclaycard (0% APR) 2,550.00, Santander CC (0% APR) 4,300.99, Santander Loan (3% - for car) 4,291.85, Mortgage 51,073.00 (1.5% APR) - Total 62,217.30
    • xylophone
    • By xylophone 12th Jan 19, 3:06 PM
    • 27,978 Posts
    • 16,874 Thanks
    xylophone
    • #3
    • 12th Jan 19, 3:06 PM
    • #3
    • 12th Jan 19, 3:06 PM
    Are you eligible for a LISA?

    https://www.moneysavingexpert.com/savings/lifetime-isas/

    Have you ever had a Nationwide Flexdirect current account?

    If not open one and deposit 2500.

    Open a TSB Classic Plus current account and deposit 1500. Set to paperless. Take out interest monthly from accounts and transfer to interest paying account.

    Set up a mid month same day SO for 1000 from TSB to NW and from NW to TSB.

    Open Flexdirect Regular saver and save 250 a month.

    If you have the DDs, consider a couple of Tesco current accounts.
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