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Cost of Living

Deutsch Wolf said:
Used to be my game many, many years ago:

moneyfactscompare.co.uk

Best Easy Access Savings Accounts | Up To 5.00%

Discover the best easy access savings rates, and compare the UK market using just one table. Compare and apply for an easy access savings account today.
moneyfactscompare.co.uk moneyfactscompare.co.uk

Realistically you're never earning that much. Keeping your ISA allowance at the peak level is your best bet.

moneyfactscompare.co.uk

Best Easy Access Cash ISA Rates | Up To 5.10%

Find and compare the best easy access Cash ISAs. Take advantage of tax-free savings and discover today's best rates. UK tax benefits may change.
moneyfactscompare.co.uk moneyfactscompare.co.uk

Loads of these firms look unfamiliar but they'll be "white label" and realistically run by and underwritten by a mainstream bank mostly.
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Thanks man that's useful.
 
Notice accounts are generally speaking an 80s/90s relic

Base rates are probably heading down eventually so don't bother with "tracker" type accounts (two years ago and you were in clover)

Plenty will be introductory 6/12 month rates, read the terms properly, don't be a dick to the poor sap on the phone three years later when it's been earning 0.1% for ages

Shout up if you want any more help
 
I had a quick read about Stoozing.

Basically if you spend £5k on a card and save at 5% you'll make just short of £250 for 12 months. Obviously the more you spend the more you save. Being able to move direct debits onto these 0% cards for bills would be ideal but not sure if you can do that.
 
Pretty much no on that point, DDs have to come from a current account broadly speaking, even more so in the last 5 or so years
 
5.12% savings account from cahoot (Santander)

cahoot Simple Saver

Our Simple Saver is an online savings account that gives you the flexibility to save and withdraw your money whenever you like.
www.cahoot.com www.cahoot.com

Variable though so it'll probably change
 
The Bear said:
I had a quick read about Stoozing.

Basically if you spend £5k on a card and save at 5% you'll make just short of £250 for 12 months. Obviously the more you spend the more you save. Being able to move direct debits onto these 0% cards for bills would be ideal but not sure if you can do that.
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Works really, really well for people who have to travel / hotel for work
 
sycophantia said:
I'm actually interested in this atm, will soon have a 'small' amount of money that I'd like to put in a savings account, I'm looking for the best interest rate, don't mind having to give a short length of notice to withdraw cash.
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Depending on how small the amount is and what tax bracket you're in you might want to be aware of personal savings allowance.

Again, depending on how big the 'small' is it might be more tax efficient to make a pension contribution instead.

Edit. Like DW said though, ISA is your first port of call

Edit2. Re the pension thing, if you want this money you're receiving for retirement it's worth being aware of this.

www.royallondon.com

Power up your pension with a single contribution - Royal London

Whether you’ve saved some extra money over the last year or you’ve just received a bonus, there are many reasons for paying a lump sum into your pension.
www.royallondon.com www.royallondon.com
 
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I have money invested in a stocks and shares ISA, it can be quite volatile at times, I’m pretty safe but you can lose a bit, Covid and Truss crashing the economy but if you’re prepared to sit on it you can get it back and more.
 
AndyWolves said:
Depending on how small the amount is and what tax bracket you're in you might want to be aware of personal savings allowance.

Again, depending on how big the 'small' is it might be more tax efficient to make a pension contribution instead.

Edit. Like DW said though, ISA is your first port of call

Edit2. Re the pension thing, if you want this money you're receiving for retirement it's worth being aware of this.

www.royallondon.com

Power up your pension with a single contribution - Royal London

Whether you’ve saved some extra money over the last year or you’ve just received a bonus, there are many reasons for paying a lump sum into your pension.
www.royallondon.com www.royallondon.com
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I'm talking miniscule amounts by modern standards. I'm already drawing down on my 'main' personal pension, my state pension kicks in at the end of this year. The little pension I'm currently looking at means I need to cash it in before April so I don't pay tax on it, probably looking to invest about 2 grand.
 
Cost of supermarket staples is mad here. Just popped out for a 2KG bag of potatoes, 500g sugar, small bottle of tomato sauce and a small bottle of cooking oil. Nearly sixteen dollars so over eight quid in my old money. For that I would expect a free panda.
 
Paddingtonwolf said:
Cost of supermarket staples is mad here. Just popped out for a 2KG bag of potatoes, 500g sugar, small bottle of tomato sauce and a small bottle of cooking oil. Nearly sixteen dollars so over eight quid in my old money. For that I would expect a free panda.
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I got in the car this morning and it was -6. You're not allowed to moan about anything.
 
Another couple of things to be aware of.

First Direct are offering £175 if you switch your current account to them and then pop in £1000 (no other conditions that i can see). It also gives access to a regular saver of 7% which is pretty decent. I'm in the process of creating a sacrificial current account to switch over so see how it goes.

Current Account | Open Online Current Account - first direct

Open a current account today and apply online within 10 minutes. Switch to us today and enjoy no fees when spending abroad and an overdraft with the account.
www.firstdirect.com www.firstdirect.com


TSB are also offering £125 if you switch, but there are more conditions (e.g. you have to have at least 2 DDs coming out of the account)

TSB kicks off the new year with its latest switching offer and doubles cashback for switchers

www.tsb.co.uk www.tsb.co.uk

Edit. Switching is very easy these days, there isn't much hassle from the customer perspective.
 
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I did about 4 bank switches last year using a second account and got about £500 in the process. Hadn’t seen the TSB one, I’ll go and see if it’s one I can do!
 
My maths is not the best. Could somebody tell me..... if I paid £150,000 into an NS&I Income Bond at 3.59% gross, 3.65% AER Variable, how much could I expect the monthly interest to be paid to me?

Thank you
 
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