Where's the wise money being saved nowadays for regular savings?
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Thread: Savings
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22-12-2018 01:32 AM #1
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Savings
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22-12-2018 06:57 AM #2
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Is there such a thing? For me personally in a stocks and shares ISA (investment trust), it's all down to your personal risk though.
"You opened the box....and your soul belongs to me...."
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22-12-2018 07:44 AM #3
Depends on your access requirements. If you don't need it any time soon (for retirement) then pension AVC or a S&S Lifetime ISA with the 25% top up would seem the best options.
If you need access to it then moneysupermarket have a regularly updated list of the accounts with the best interest rates, but none will be that great.
Inbetween and you can get fixed rate bonds between 2-3%pa for 1-5 years. I think if you're approaching the 5 year mark and beyond a shares based saving scheme would start to be better though.Mon the Hibs.
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22-12-2018 08:16 AM #4
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"You opened the box....and your soul belongs to me...."
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22-12-2018 09:02 PM #7
Stocks and shares ISAs outstrip anything in a good year.
You have to think long-term though. With Brexit in the melting pot it takes a wee bit of nerve.
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23-12-2018 11:02 AM #8
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23-12-2018 11:15 AM #9
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With the Brexit shenanigans I’m got most of mines back into cash for the time being.
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25-12-2018 05:28 PM #10
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Marcus 1.5% start with £1 and it's easy access. Safe up to £85000, government guaranteed.
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25-12-2018 09:11 PM #11
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Prepare to short sell into the upcoming bear market.
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26-12-2018 08:51 AM #12
My stocks and shares ISA is currently down in value by 11.25%. It's a long haul thing though so not massively worried.
A few people gave us money when we had the bairn and we added to it and bought her premium bonds. It's generally not recommeded but she's had a couple of wins already so the return has probably been better than if we had stuck it in a savings account, in the short term anyway.PM Awards General Poster of The Year 2015, 2016, 2017. Probably robbed in other years
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26-12-2018 10:16 AM #13
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I tracked down some that I was given at birth 47 years later I won nowt!
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26-12-2018 12:11 PM #14This quote is hidden because you are ignoring this member. Show Quote
They might class as savings as they are redeemable but they are also certain to fall in value due to inflation and do not pay interest so even that description is a stretch.
They are more akin to pre paid perpetual lottery tickets...with the chance of winning any significant sum dramatically reduced accordingly.
The odds are staggering. To win the million you have a one in 36 BILLION chance. To win 25k you have a one in 2.2 billion chance.
Basically they are almost certainly going to lose you money.
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26-12-2018 04:05 PM #15This quote is hidden because you are ignoring this member. Show Quote
Martin Lewis has a page dedicated to Premium Bonds on his website and he isn't that keen on them either because the theoretical growths are 100% a gamble, the least you get is 0% but a £1 bond "could" win the big prize,,,,
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28-12-2018 02:47 PM #16
Not savings but an opportunity to make some cash. If you think the Euro exchange rate will get any worse, open a Revolut account. I got it for holiday spending but I’ve made a bit of a killing exchanging GBP to Euros and exchanging back as the rate dropped. Obviously at your own risk (and possibly against their T&Cs).
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