settlement
Registered User
- Messages
- 266
Hey guys,
I currently have about 10k that I can put away. I looked into all the deposit, instant access and regular saver accounts and was appalled at the low rates. How anyone is making any money on these accounts these days is amazing as the interest rates are so pathetically low and DIRT so high.
I came to the conclusion that with my meagre 10k it wasn't worth the hassle of setting up an account to earn a negligible amount. However, I have literally no use for this money at the moment and want to put it to work.
The scenario is complicated by the fact that I will be able to save about 1k a month come May. Should I put the 10k into a fixed term account now and then put the 1k into a monthly saver account when I start saving monthly in July? Or would I be better off waiting until I have a decent sum of money altogether, say 20k (still not decent but may as well put it to work) and then putting that in a fixed term account?
It's all very complicated and the gains are small, but I feel I may as well do something.
I m basically trying to raise as much money as possible. Thanks in advance for any suggestions.
I currently have about 10k that I can put away. I looked into all the deposit, instant access and regular saver accounts and was appalled at the low rates. How anyone is making any money on these accounts these days is amazing as the interest rates are so pathetically low and DIRT so high.
I came to the conclusion that with my meagre 10k it wasn't worth the hassle of setting up an account to earn a negligible amount. However, I have literally no use for this money at the moment and want to put it to work.
The scenario is complicated by the fact that I will be able to save about 1k a month come May. Should I put the 10k into a fixed term account now and then put the 1k into a monthly saver account when I start saving monthly in July? Or would I be better off waiting until I have a decent sum of money altogether, say 20k (still not decent but may as well put it to work) and then putting that in a fixed term account?
It's all very complicated and the gains are small, but I feel I may as well do something.
I m basically trying to raise as much money as possible. Thanks in advance for any suggestions.