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  • FIRST POST
    • FunLovinCriminal
    • By FunLovinCriminal 5th Feb 18, 9:37 AM
    • 376Posts
    • 409Thanks
    FunLovinCriminal
    Best Place for Redundancy Payment
    • #1
    • 5th Feb 18, 9:37 AM
    Best Place for Redundancy Payment 5th Feb 18 at 9:37 AM
    OH is going to be made redundant in 35 days, and is being given 16000 as a settlement figure.
    I have a TSB account, and Natwest Rewards account in my name, and the qualifying DD's come out of those accounts.
    OH is going to go to college and retrain to do HNC in Childcare
    So we need access to the 16,000 - cannot lock it away, but also want to make it work the best possible way while she is not earning.
    What are your suggestions?
    Mortgage: 01/02/14 - 108k
    Mortgage: Current - 97k
    Mission: MF by 50
Page 1
    • MallyGirl
    • By MallyGirl 5th Feb 18, 10:28 AM
    • 2,739 Posts
    • 7,746 Thanks
    MallyGirl
    • #2
    • 5th Feb 18, 10:28 AM
    • #2
    • 5th Feb 18, 10:28 AM
    take a look here:

    https://www.moneysavingexpert.com/savings/which-saving-account?_ga=2.10370229.1412772941.1517821981-1057817352.1511775815

    bank accounts which offer interest are likely to be the best option
    • xylophone
    • By xylophone 5th Feb 18, 1:56 PM
    • 25,574 Posts
    • 15,103 Thanks
    xylophone
    • #3
    • 5th Feb 18, 1:56 PM
    • #3
    • 5th Feb 18, 1:56 PM
    Assuming that you are eligible and have not had Nationwide Flexdirect accounts before
    a sole in each name and a joint - 2500 in each.

    You will need to cycle 1000 from an outside account into each every month.

    You could also use the Flexclusive monthly saver.

    You might open a sole each and a joint TSB plus current account - 1500 in each - cycle in/out 500 a month each.

    Assuming that you can each scrape up three DDs, open a Tesco current account each - cycle in/out 750 a month.
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