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  • FIRST POST
    • Sncjw
    • By Sncjw 9th Apr 18, 7:31 AM
    • 1,766Posts
    • 1,048Thanks
    Sncjw
    Money in current account
    • #1
    • 9th Apr 18, 7:31 AM
    Money in current account 9th Apr 18 at 7:31 AM
    Hi

    Does anyone get like this with their money. I have a current account and I canít be under a certain amount of il get panicky that I donít have enough money. I have two savings accounts and they hAve roughly the same amount in them.

    Iím just feel that I should have more in the accounts because I live at home. I do have phone bill and my credit card bill each month but I mainly use my credit card for day to day spending and I get shocked how much
    I do spends sometimes. I try not to go over £500 a month in day to day spends and that sounds like a lot.

    Is it just me that feels like this
Page 1
    • Robin9
    • By Robin9 9th Apr 18, 8:29 AM
    • 2,529 Posts
    • 1,636 Thanks
    Robin9
    • #2
    • 9th Apr 18, 8:29 AM
    • #2
    • 9th Apr 18, 8:29 AM
    OP you sound rather like me. I know it's not very MSE but I like the confidence that there is enough money in the bank to meet what I know will come up in the month and that there is enough in my savings (emergency funds) to meet that unexpected big bill eg the washing machine.

    Do you budget at the moment? Do you know when your utilities, your insurances, annual payments are due ?

    There will be others here who will advise you to switch banks for the bonuses, use interest bearing accounts but do what suits suits you and what you are comfortable with.
    Never pay on an estimated bill
    • binaryuniverse
    • By binaryuniverse 9th Apr 18, 12:14 PM
    • 653 Posts
    • 416 Thanks
    binaryuniverse
    • #3
    • 9th Apr 18, 12:14 PM
    • #3
    • 9th Apr 18, 12:14 PM
    If you don't have any debts, be thankful you are in a far more fortunate position than many.

    It is a good idea to try and have about 6 months worth of emergency funds saved, should the proverbials hit the fan, and you find yourself with no income for a while. So your aim would be 6x whatever your monthly outgoings currently are (perhaps a little less as you probably won't be travelling for work daily, and buying food at work).

    Once you have that, start looking at what you want to do in the future. Living at home usually puts you in a good position to start saving for your own home. So perhaps set a deposit on a house as your next target?

    But yes, generally it's a good idea to have a cushion, and try not to dip below that. So don't fret too much. Enjoy your money as well.
    • Sncjw
    • By Sncjw 9th Apr 18, 12:24 PM
    • 1,766 Posts
    • 1,048 Thanks
    Sncjw
    • #4
    • 9th Apr 18, 12:24 PM
    • #4
    • 9th Apr 18, 12:24 PM
    I don!!!8217;t have utilities or insurances as I live at home
    • PeacefulWaters
    • By PeacefulWaters 9th Apr 18, 12:32 PM
    • 8,320 Posts
    • 10,637 Thanks
    PeacefulWaters
    • #5
    • 9th Apr 18, 12:32 PM
    • #5
    • 9th Apr 18, 12:32 PM
    I don!!!8217;t have utilities or insurances as I live at home
    Originally posted by Sncjw
    I live at home and have those bills!
    • AndyPK
    • By AndyPK 9th Apr 18, 6:28 PM
    • 2,826 Posts
    • 786 Thanks
    AndyPK
    • #6
    • 9th Apr 18, 6:28 PM
    • #6
    • 9th Apr 18, 6:28 PM
    Why don't you get yourself a current account that earns interest. You can keep money in it and earn interest then!

    e.g. Bank of Scotland vantage, TSB, Santander123 (interest upto £20K), NationWide, Tesco

    Santander and Nationwide have 5% regular savers too.


    would recommend you save more money for a house though! rather than spending it on coffee's and meals. Save £1000/month if you can
    Last edited by AndyPK; 09-04-2018 at 6:31 PM.
    • Sncjw
    • By Sncjw 9th Apr 18, 6:33 PM
    • 1,766 Posts
    • 1,048 Thanks
    Sncjw
    • #7
    • 9th Apr 18, 6:33 PM
    • #7
    • 9th Apr 18, 6:33 PM
    I have a natiOnwide current account but want to keep Halifax for ease of use.

    I live with parents I don!!!8217;t have uklties or insurance to pay that!!!8217;s what I mean
    • Mnd
    • By Mnd 11th Apr 18, 10:34 AM
    • 503 Posts
    • 607 Thanks
    Mnd
    • #8
    • 11th Apr 18, 10:34 AM
    • #8
    • 11th Apr 18, 10:34 AM
    Start tracking your spending in detail.500 a month sounds loads to me on day to day spends (but I'm a tight so an so)
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