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Results: How many Cash Regular Savings Accounts do you have? Post a Poll

0

6.41% • 15 votes

1

8.12% • 19 votes

2

13.68% • 32 votes

3

17.09% • 40 votes

4

12.82% • 30 votes

5

5.98% • 14 votes

6

5.56% • 13 votes

7

1.71% • 4 votes

8

1.28% • 3 votes

9

2.14% • 5 votes

10 or more

25.21% • 59 votes

You may not vote on this poll

234 votes in total.

  • FIRST POST
    • ozaz
    • By ozaz 31st Aug 18, 3:12 PM
    • 177Posts
    • 58Thanks
    ozaz
    How many Regular Savings Accounts do you have?
    • #1
    • 31st Aug 18, 3:12 PM
    How many Regular Savings Accounts do you have? 31st Aug 18 at 3:12 PM
    Out of pure curiosity just wondering how many cash regular saver accounts MSE forum members have. Please vote in poll.

    Also curious if people spread account opening/closing dates evenly across the year or if they are all bunched at a particular time of year (e.g. beginning/end of tax year). Please comment if you wish.
Page 12
    • darfoc
    • By darfoc 12th Sep 18, 11:29 PM
    • 2 Posts
    • 2 Thanks
    darfoc
    I opened my first regular saver in 2013; my second in late 2015; third in early 2016; then the avalanche started in oct 2016. I now have 45 active, outgoing more than 13k pm. I never planned to have that many (though I could've had a few more). I wonder now if the amount of time I've spent on it is really worth it. There will be many here who say 'it only takes a few clicks to apply', but when you add the time spent researching, reading T&C's, opening the pre-requisite accounts, moving money into the relevant current account(s) to cover SO's and monitoring these forums it all adds up. As someone relatively young I'd probably have been better off spending that time researching S&S investments or studying for professional qualifications. For me it's become a hobby but perhaps not in the most productive sense.
    • EachPenny
    • By EachPenny 13th Sep 18, 7:49 AM
    • 6,616 Posts
    • 17,751 Thanks
    EachPenny
    It's more than about being productive. Its fun. Its like having a hobby. Some people go fishing, or have a model railway. Some people like to see how much interest they can earn.
    Originally posted by surreysaver
    It is also interesting to be in a position to compare and contrast the different banks and building societies, to see their different methods of working, and to provide feedback on an informed basis where things don't work as well as they could.


    In some cases having a RS account with a slightly obscure BS has made me aware of other non-RS accounts they did which I probably wouldn't have heard of (or perhaps not considered) otherwise.
    "In the future, everyone will be rich for 15 minutes"
    • Wheres My Cashback
    • By Wheres My Cashback 13th Sep 18, 11:08 AM
    • 3,119 Posts
    • 37,965 Thanks
    Wheres My Cashback
    I opened my first regular saver in 2013; my second in late 2015; third in early 2016; then the avalanche started in oct 2016. I now have 45 active, outgoing more than 13k pm. I never planned to have that many (though I could've had a few more). I wonder now if the amount of time I've spent on it is really worth it. There will be many here who say 'it only takes a few clicks to apply', but when you add the time spent researching, reading T&C's, opening the pre-requisite accounts, moving money into the relevant current account(s) to cover SO's and monitoring these forums it all adds up. As someone relatively young I'd probably have been better off spending that time researching S&S investments or studying for professional qualifications. For me it's become a hobby but perhaps not in the most productive sense.
    Originally posted by darfoc
    Hmmmm
    • masonic
    • By masonic 13th Sep 18, 5:57 PM
    • 9,824 Posts
    • 7,033 Thanks
    masonic
    Hmmmm
    Originally posted by Wheres My Cashback
    Unbelievable?
    • Fingerbobs
    • By Fingerbobs 13th Sep 18, 10:45 PM
    • 449 Posts
    • 129 Thanks
    Fingerbobs
    I only started doing the Regular Savers a couple of years ago, and made the schoolboy mistake of applying for a bunch of them all at the same time, so they all matured in the same month. This resulted in a huge blob of money suddenly needing a high-interest home when they all matured.

    Since then I've been opening one new account each month (or attempting to) to avoid this problem.
    • Fingerbobs
    • By Fingerbobs 13th Sep 18, 11:10 PM
    • 449 Posts
    • 129 Thanks
    Fingerbobs
    It's more than about being productive. Its fun. Its like having a hobby. Some people go fishing, or have a model railway. Some people like to see how much interest they can earn.
    Its like a game - making sure you adhere to all the terms and conditions of each product is like adhering to the rules of a board game such as Monopoly.
    Originally posted by surreysaver
    I couldn't agree more! Rather like Stoozing (which I also dabble in) the returns probably don't really justify the time spent managing the accounts, but it's fun
    • jimbob0802
    • By jimbob0802 14th Sep 18, 6:30 AM
    • 20 Posts
    • 1 Thanks
    jimbob0802
    Not sure if this is the right thread to post this question exactly but was struggling to find another of relevance.

    Basically my question is: I have a Lifetime ISA with Skipton of which I've maxed out my contributions for the year. I've also got a regular Cash ISA with Nationwide, but this has been dormant for a while. I've also just opened up a trading account with Interactive Investor which acts as a Stocks and Shares ISA.

    Does the Lifetime ISA count as a Cash ISA? And if so, how many more ISA's can I open, if that is what I wanted to do?
    • jimbob0802
    • By jimbob0802 14th Sep 18, 6:32 AM
    • 20 Posts
    • 1 Thanks
    jimbob0802
    Just answered my own question...
    ...four, according to pension craft .com
    • Wheres My Cashback
    • By Wheres My Cashback 14th Sep 18, 10:46 AM
    • 3,119 Posts
    • 37,965 Thanks
    Wheres My Cashback
    Unbelievable?
    Originally posted by masonic
    Is It ? You tell me
    • veryintrigued
    • By veryintrigued 14th Sep 18, 1:19 PM
    • 2,483 Posts
    • 1,961 Thanks
    veryintrigued
    Is It ? You tell me
    Originally posted by Wheres My Cashback
    Very achievable as has been stated on this thread multiple times.

    Add all the possible Virgin and Notts BS RS and you're well into double figures with just two institutions.

    Grow up with all the emojis and state what you actually want to say.
    • Wheres My Cashback
    • By Wheres My Cashback 15th Sep 18, 11:25 AM
    • 3,119 Posts
    • 37,965 Thanks
    Wheres My Cashback

    Grow up with all the emojis and state what you actually want to say.
    Originally posted by veryintrigued
    I think you need to grow up yourself, with the modern era of emojis

    They're quite specific as to what they mean

    But to spell it out for you, I was just curious as to what the 45 active were.

    Shame they don't seem to have one for the emoji police !
    • Sea Shell
    • By Sea Shell 16th Sep 18, 8:10 AM
    • 939 Posts
    • 1,490 Thanks
    Sea Shell
    My pack arrived yesterday. So forms duly signed and popped straight back in the post-box...so lets see how long it takes for the account to be fully "opened" - although the paperwork did show A/C and Sort code on it.
    Originally posted by Sea Shell
    Still no further post from M&S !!!
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
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