Where do you currently put your savings?
Nationwide for emergency fund in their 5% flex direct account
Vanguard ISA for long term savings
Freetrade for a very small proportion
I collect all my change in a piggy bank
•First direct: regular saver
•Help to buy Virgin
•Monzo saving pots (short term)
Under the mattress usually
Emergency cash in Marcus
Then the rest in Freetrade.
Long term in Marcus
Short term for yearly expenses/emergency fund nationwide instant access
Investments in a Vanguard stocks and shares ISA
I’m pretty happy with this setup at the moment
Short term in my current account (Starling).
Medium term in instant access savings accounts (Marcus & Synergy)
Long term invested in shares (iWeb & Vanguard)
Long term in Barclays offset - against mortgage. Monzo isa and holiday pot.
Mine’s in a Monzo isa. I’ve only just discovered Monzo and I’ve been getting 0% for years with Santander so I’m pretty happy with what I’m getting.
All savings in Marcus, spending money in Monzo. That’s it!
Looks like I should check out Freetrade…
Main savings - Marcus
Smaller part of savings - Santander eSaver
Bonds with Dozens
A ‘Savings’ pot in Monzo with my emergency funds (this is so I try not to touch the main savings)
Day to day spending is all in Monzo
- Monthly spend in Monzo
- Short term savings (covers major events like boiler needing replacing, if I was layed off, etc.)
2.b. Some short term savings in First Direct Regular Saver (5%)
2.c. I do also have a savings roundup pot in Monzo, but this is relatively small and as it becomes large I will likely move to Marcus or one of the other longer term accounts.
- Long term savings (if I move house, or unemployed for any length of time etc.) Coventry 5 year cash ISA (2.1%)
- Long term investments
4.a. iWeb Stocks & Shares ISA (mainly with Vanguard life strategy)
4.b P2P (Assetz Capital, Ratesetter, Lending Works, Kufflink). About 15% of overall long term investments. Currently reducing percentage due to becoming increasingly uncomfortable with the risk.
4.c Freetrade, although not really decided how I will use this yet.
- Pensions …
Savings are in Monzo with Charter, instant savings account.
I don’t believe it’s instant.
That’s a good point. I’m not sure what to call the Monzo saving accounts
They definitely aren’t fixed term but they are not instant (only referring to the one’s that next working day)
Down the pub. In the Monzo interest savings thing.
I read here people saying the savings aren’t instant and are the next day. Quite a few are like that? I had a post office instant access saver years ago but it was run by the bank of Ireland and withdrawals to a bank would usually take 2 or 3 working days.
It would only be “instant” if the savings account was run by the bank in question and we all know the main banks don’t like giving interest (0.5% on my Santander account, 0.005% on my late mums HSBC) so I guess 1.15% is fine and the transfer time is acceptable.
I have a few different locations…
I have a Monzo ISA
I also have stock and shares ISA…
The rest just goes into a low interest ieasy access in Monzo for monthly use.
Yes my bad, next working day or whatever.
All our savings are in a Monzo easy access pots, but before we bought our house (when we had more savings) they were spread around Marcus, FD regular savers, Tesco and a few others, but mostly in Marcus.