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    • Red-Squirrel
    • By Red-Squirrel 5th Jan 19, 11:10 AM
    • 4,073Posts
    • 10,993Thanks
    New saver advice!
    • #1
    • 5th Jan 19, 11:10 AM
    New saver advice! 5th Jan 19 at 11:10 AM
    So for the first time since I've been a homeowner I'm in a position to save again! I'm hoping the lovely experts on this board can give me some suggestions as to the best easy access places to keep a small but hopefully growing pot of money. I have around 500 a month that I can save from my salary.

    I currently have the following pots/accounts:

    400 in a Natwest current account earning no interest as far as I know (this is a 'spare' current account, no DDs or other use apart from me paying in and out of it.

    550 in a co-op savings account earning 0.59%

    100 in Starling

    760 in Monzo

    My main current account is with the Co-op but I have just opened a HSBC one for the bonus and the switch should go through in the next week or so. I will then open the regular 5% savings account and put the full 250 in there every month.

    I'm stuck as what to do with the little bit of money I already have and the other 250 I want to save each month. I could do with easy access as it will be a mixture of emergency fund and pots for things like vet bills, holidays, home improvements etc. One pot is for travel plans that are more than a year away so I could conceivably put some in a longer term product.

    Any ideas? Thanks in advance!
    Last edited by Red-Squirrel; 05-01-2019 at 11:14 AM.
Page 3
    • Red-Squirrel
    • By Red-Squirrel 12th Jan 19, 7:12 PM
    • 4,073 Posts
    • 10,993 Thanks
    Before you cause a stampede of people paying an extra pound into their Classic Plus account... where did you read the 1501 figure?
    Originally posted by EachPenny
    Pretty sure I saw it on one of the printouts I was given in branch, I'll have a look to be sure if there are going to be dire consequences!!
    • Red-Squirrel
    • By Red-Squirrel 12th Jan 19, 7:13 PM
    • 4,073 Posts
    • 10,993 Thanks
    Reading this thread I'm now debating opening one (or more) of these TSB Classic Plus accounts but I'm just trying to get my head round something.

    The only reason to have this would be to just have 1500 of your savings earning 5% interest (which you can then cream off and put elsewhere) and thats it. Any other savings you have over 1,500 would need to be held elsewhere.

    Am I right?
    Originally posted by fiestaman87
    Essentially! I only had a little over the 1500 to save, but 5% is not on offer in many places, you may as well have some getting that rate as none.
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