How and where do you save money?

[chaparral]

I put my copper coins in my piggy bank...

 

[Castiel]

Who are you with out of interest? I'd imagine the same sort of deals are not available to new customers?

HSBC. I don't know about new customers, it does depend on which current account account, how much you pay in, balance etc....

 

[Mr-White]

I keep my savings in a standard current account. So I can access it whenever, how ever I want.

I don't see the point of having an ISA account with all these limitations, telling me what I can and cannot do with my own money I put in. I put money in the bank to SAVE not to make a profit from interest, especially now.

Mines linked to my online banking and I can transfer money in and out as I please (upto the yearly £5,640 limit obviously).

MW

 

[gillywibble]

ISA (cash and stocks)
GIA
Life Trust
VCT
OEIC

 

[The_Abyss]

- Overpay the mortgage as much as I'm allowed
- Cash ISA
- Equity ISA
- Zopa
- Company share saves
- SIPPs

 

[Angilion]

I have several old sweet jars for small denomination coins. That's my savings.

But hey, better to be poor in the UK today than at any other time in history and better to be poor in the UK than in many other places today. I can pay my bills and buy a pension I should be able to live on when I'm old, and that'll do for me.

 

[Gangster]

Why not put it in a Australian savers account?

a lot are offering 5% for 6 months and then 3.5% after. or 4.92% if you make no withdraws each month.

Australian Government's up to £170k guarantee.

The UK has a double taxation treaty in place with Australia, so you won't pay tax twice

You have to be an Australian Citizen don't you?

 

[nick.lidgett]

I used to save at the bank but when the world went mad i took it all out over the space of 4-5 years and paid it off my mortgage (max over payment on my mortgage is £3k pa). Now the money i save goes in a floor safe in my house until things go back to normal.

 

[One More Solo]

I used to save at the bank but when the world went mad i took it all out over the space of 4-5 years and paid it off my mortgage (max over payment on my mortgage is £3k pa). Now the money i save goes in a floor safe in my house until things go back to normal.

 

[CRUMPLYPORK]

i plow my spare cash into the company share save scheme and in my pension.

 

[Randomface74]

I have an ISA which I max out, and an online savings account. Rates are basically irrelevant because they're so low.

A better use of money is making intelligent purchases. e.g.
- buy a car outright instead of credit
- put down a bigger house deposit / overpay mortgage

you get the jist

 

[nick.lidgett]

This means what?

 

[Craigius]

I have an ISA with a seperate bank to my current account, i have a standing order from my current account to the ISA that goes out when i get paid, and i try to forget it is there, stops me spending it!

 

[One More Solo]

This means what?

Why on earth would you keep money in a safe in your house when you can save it in a variety of government guaranteed institutions where even the worst case scenario is better than the 0% return (or negative if you want to include inflation) you're currently getting?

 

[One]

Why on earth would you keep money in a safe in your house when you can save it in a variety of government guaranteed institutions where even the worst case scenario is better than the 0% return (or negative if you want to include inflation) you're currently getting?

Exactly, if the **** did hit that fan and all cash in banks were lost the paper money he's keeping in his safe wouldn't be worth squat anyway.

Question about ISAs, you get ~£5k, at the end of the tax year, can you put more in the same one or do you have to open up a new ISA and if the latter can that ISA be with the same bank?

 

[Pawnless Endgame]

I miss my 6% savings accounts . I used to upgrade my PC with the interest, but now I'm actually losing money so I have still got a GTX280 .

GTX280 is still a decent card. It ages well.

Premium bonds. I am so good and lucky.

notsureifserious.jpg

 

[Mark A]

GTX280 is still a decent card. It ages well.

That's true actually, I have had this card for over 4 years now and it's just starting to show its age. It'll struggle with a few of the newest titles i want to get, but money is a bit tight at the moment so i might just have to play with some stuff on medium.

 

[nick.lidgett]

Simply because i dont trust the banks anymore, im not a rich man by any means but im lucky enough to make good money even when im sitting on my arse playing call of duty. The way i see it is if i can save £3-5K a year i can pay a good chunk of my mortgage once a year and have a good holiday too. I dont need an isa or high interest savings account. I dont have sooooo much money if i kept it i a bank and it went bang id lose it but i just dont like the idea of having my cash i a corrupt insitutes servers as a load of 1s and 0s

 

[Cleeecooo]

Simply because i dont trust the banks anymore, im not a rich man by any means but im lucky enough to make good money even when im sitting on my arse playing call of duty. The way i see it is if i can save £3-5K a year i can pay a good chunk of my mortgage once a year and have a good holiday too. I dont need an isa or high interest savings account. I dont have sooooo much money if i kept it i a bank and it went bang id lose it but i just dont like the idea of having my cash i a corrupt insitutes servers as a load of 1s and 0s

http://www.fsa.gov.uk/pages/consumerinformation/compensation/latest/limit_increase.shtml

Keeping it in a safe is the most retarded thing I've heard in my life. Why you've posted this on a public forum is beyond me.

Not only is your money becoming worth less, you can very easily lose it.

 

[HangTime]

i just dont like the idea of having my cash i a corrupt insitutes servers as a load of 1s and 0s

You could argue that paper cash is just an antiquated bunch 'of 1s and 0s' - its value is that the BoE promises to pay the bearer blah blah, which is effectively what those 1s and 0s do as well.