Best place to put your savings

Mick

Mick

Administrator
Staff member
Administrator
Joined
Jan 19, 1999
Messages
32,154
Reaction score
9,223
After reading the spread betting post lol, I was wondering where you guys put your savings and I am not talking about under the floorboards lol!

Best interest and can get it when you want?

Or would it be better to put money into a locked type of account which you can only get after a certain amount of time.

What about these premium bonds @Spectre...

I basically have a normal account with I doubt any interest that I put a certain amount into every week, and never touch it!

But thought would it be better to place that in a different account etc???

Look forward to hearing what you guys do...

Cheers
Mick
 
Last edited:
A diverse spread! Some in easy access (low interest) just in case of a disaster, some in longer term to get better interest - not much better than 3% though :(

ISAs (shares and cash), cash because it's easily accessible but the return is rubbish although it's tax-free; shares return about 5%.

SIPP is about 30% shares and some free-standing shares.

I've posted before that I don't go much on the gambling (no, not po-faced lol), just a bit risk averse so I stick with big global companies like FTSE100 and go for dividends.

That's it really - all rather boring and safe!
 
Him Her said:
A diverse spread! Some in easy access (low interest) just in case of a disaster, some in longer term to get better interest - not much better than 3% though :(

ISAs (shares and cash), cash because it's easily accessible but the return is rubbish although it's tax-free; shares return about 5%.

SIPP is about 30% shares and some free-standing shares.

I've posted before that I don't go much on the gambling (no, not po-faced lol), just a bit risk averse so I stick with big global companies like FTSE100 and go for dividends.

That's it really - all rather boring and safe!
Click to expand...

So you buy dividends in companies, how does that work?

I pay myself dividends lol as they are low taxed... but Where do you buy them for the big companies???

Mick
 
Mick said:
After reading the spread betting post lol, I was wondering where you guys put your savings and I am not talking about under the floorboards lol!

Best interest and can get it when you want?

Or would it be better to put money into a locked type of account which you can only get after a certain amount of time.

What about these premium bonds @Spectre...

I basically have a normal account with I doubt any interest that I put a certain amount into every week, and never touch it!

But thought would it be better to place that in a different account etc???

Look forward to hearing what you guys do...

Cheers
Mick
Click to expand...

I'll keep it for you 100% intrest ever week till you die then its mine
 
Last edited by a moderator:
Mick said:
So you buy dividends in companies, how does that work?

I pay myself dividends lol as they are low taxed... but Where do you buy them for the big companies???

Mick
Click to expand...

Shares pay dividends - usually bi-annually. I buy FTSE100 shares that pay dividends in the 3-6% area. Global companies like Vodafone, Astra Zeneca etc. I spread over various sectors including mainstream technologies (mobile networks), insurance, mining, petro-chemicals etc. The sort of stuff that gets hit less in recession.

Pretty solid but ALL investments are risks. I avoid banks, hi-tech and IPOs (like Facebook going public for the first time). I check back over the last decade that dividends have been growing year on year.

Boring but simple :)
 
I have been reading that you should be looking to invest for more than 10 years to really see any benifits???

I am looking to buy abroad within 4 years, I am not expecting much to be fair.

Might as well leave it in the bank, I read an article about you should have at least 6 months worth of living savings (basically if you could not work or whatever for 6 months) before you should even consider investing in stocks etc.

So that would be 6 months then your savings - which kind of makes sense - we gotta eat right.
 
Mick said:
I have been reading that you should be looking to invest for more than 10 years to really see any benifits???
Click to expand...

Bit too general M8. FTSE100 shares have delivered reasonable returns consistently. They dip so you have to be prepared to wait until they go up again before selling.

I am looking to buy abroad within 4 years, I am not expecting much to be fair.

Might as well leave it in the bank, I read an article about you should have at least 6 months worth of living savings (basically if you could not work or whatever for 6 months) before you should even consider investing in stocks etc.

So that would be 6 months then your savings - which kind of makes sense - we gotta eat right.
Click to expand...

Yep! Don't invest expecting a quick profit, you'll likely be disappointed hence the diverse spread. Some shares, some cash etc. I forgot the property, Mrs M has one and I have one. No income as family in them but they're 'banked' ;)
 
Yeah I am just looking at the ISA's now, might aswell get 2% for 3 years :)

But they have a cap, can you have more than one lol

Mick
 
There are a couple of banks doing a current account that pays more than most ISAs @Mick. I'll have to ask someone at work who they are but you can have two of these and get relatively high interest on £20k in each.

I'll find out tomorrow.
 
Last edited by a moderator:
Him Her said:
I avoid banks, hi-tech and IPOs (like Facebook going public for the first time). I check back over the last decade that dividends have been growing year on year.
Click to expand...

I agree,.....but Google, 900% since 2004........what if ?........I wonder if that's really why I hate the company!:LOL:
 
Spectre said:
There are a couple of banks doing a current account that pays more than most ISAs @Mick. I'll have to ask someone at work who they are but you can have two of these and get relatively high interest on £20k in each.

I'll find out tomorrow.
Click to expand...

Erm, 0.1% aint too hard to beat lol
 
Last edited by a moderator:
HSBC are doing a 6% savings account :)

I just seen it :)

But a 5% current account lol that is even better as the HSBC's you can only put a max of (£250 a month).

EDIT:

It looks like the 5% one is nationwide but that is on a maximum of £2500 after that it is 1%

Santander is 3% but you have a monthly fee of £2 and a max of £20,000 (also comes with cashback for water/gas/electric).


Mick
 
Last edited:
Spectre said:
There are a couple of banks doing a current account that pays more than most ISAs @Mick. I'll have to ask someone at work who they are but you can have two of these and get relatively high interest on £20k in each.

I'll find out tomorrow.
Click to expand...

I looking at these a few days ago, the Santander 123 current account pays up to 3% variable (you can have 2 accounts, max 20K each), cashback and gubbins.

It was the only one I came across at a quick look, and I would be interested in the other.
 
Last edited by a moderator:
danforth said:
I looking at these a few days ago, the Santander 123 current account pays up to 3% variable (you can have 2 accounts, max 20K each), cashback and gubbins.

It was the only one I came across at a quick look, and I would be interested in the other.
Click to expand...

Nationwide 5%, but they have a cap of 2500 which is useless after that it is 1%
 
danforth said:
I looking at these a few days ago, the Santander 123 current account pays up to 3% variable (you can have 2 accounts, max 20K each), cashback and gubbins.

It was the only one I came across at a quick look, and I would be interested in the other.
Click to expand...

There is always the chance that I'm confused so I'll see tomorrow.

Remember that only £84k is guaranteed so when the time comes, the government can plunder savings over that. You need to spread >£84 across banks on a different guarantee, which is possible,
 
Spectre said:
There is always the chance that I'm confused so I'll see tomorrow.

Remember that only £84k is guaranteed so when the time comes, the government can plunder savings over that. You need to spread >£84 across banks on a different guarantee, which is possible,
Click to expand...

I think you were right at the time, my time perception is shocking. It's over a week ago now, and I've found some jottings I made then.
It was via moneysavingexpert.com, it was a Santander current account, and it was 5% according to my note, rejected at the time because of the strings.
It's not there now, and they must have known the latest inflation figures before we did. Odd, unless I'm going bonkers! I could be the last to know. :)
 
Put a deposit on a house, buy to let mortgage and rent it out, gives you much more return than any bank or investment ;)
 
You must log in or register to reply here.

Similar threads

chookey
Humidifier
Replies
11
Views
531
D 8 RCS
D 8 RCS
spud1966
    • Like
GameBaTo NEW Game STORE for PS4 9.00 or Lower | Download and Install Games Directly on your PS4
Replies
0
Views
599
spud1966
spud1966
Grimeire
    • Wow
    • Like
    • Sad
amazon support!!!!!!
Replies
3
Views
821
Sandra51
S
O
    • Like
HISENSE 65A6KTUK 65" Smart 4K Ultra HD HDR LED TV with Amazon Alexa - £449 @ Currys
Replies
6
Views
966
gez
gez
melttc
    • Wow
Sensible Topic Email Hacked
Replies
19
Views
800
silverdale
silverdale
Back
Top