flashinglights
New Member
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- 7
Complete novice about understanding what to do with savings,
We have 2 Credit union accounts, one we save €100 a month in ( has been set up years ago to save for the kids college) around 10k in it
One we save €900 a month in, this is partially rainy day etc, but only ever touched when needed, close to 20k in it.
Im wondering what to do with it? The first one, the full amount can go away for 5 + years anyway, the second one we can hold 5k aside and put 15k away for potentially over 10 years.
What is the best advise? We want something that will be secure, I understand there is a choice of Government schemes, investments and long term savings.
Would it be worth setting up 2 different savings accounts, one for 5 years of the 10k credit union and one for 10 years using 10k, then put 5k into saving bonds and see if anything ever comes back?
Investments on paper look great, a quick scan on Irish life and the return is great, but We could also lose it all.
Raisin I see have the best rates, but im not actually sure what it is, and is it secure?
We have 2 Credit union accounts, one we save €100 a month in ( has been set up years ago to save for the kids college) around 10k in it
One we save €900 a month in, this is partially rainy day etc, but only ever touched when needed, close to 20k in it.
Im wondering what to do with it? The first one, the full amount can go away for 5 + years anyway, the second one we can hold 5k aside and put 15k away for potentially over 10 years.
What is the best advise? We want something that will be secure, I understand there is a choice of Government schemes, investments and long term savings.
Would it be worth setting up 2 different savings accounts, one for 5 years of the 10k credit union and one for 10 years using 10k, then put 5k into saving bonds and see if anything ever comes back?
Investments on paper look great, a quick scan on Irish life and the return is great, but We could also lose it all.
Raisin I see have the best rates, but im not actually sure what it is, and is it secure?