Saving up money!!

Hey,

Just wondered if any of you knowledgable guys had any tips for where’s the best place to save all my hard earned money!  I’m going on a RTW in Jan ‘07 and have already started saving but want to put the money in a seperate account where I wont be tempted and can get good interest!  Any ideas?? Help, this RTW stuff is harder than it looks!

Thanks
Lea
xxx

There’s loads of savings accounts to choose from.  Most banks have them or you can use an online one.  Most rates vary from 3-5% and there is a notice required before you can access your cash - which I find is always a good thing!!!  Or there are ones that you can access instantly.

Here are some sites to look at:

http://www.moneyfacts.co.uk/menus/main/menu_savings.htm
http://www.egg.com
http://forums.moneysavingexpert.com/forumdisplay.html?f=18

Hope that helps.  Easiest way to save money is not to spend!!! :razz:

Get a Nationwide account because that’s what you’ll want when you go travelling anyway… check out rates etc here…

http://www.nationwide.co.uk/banking/current_account/flex-rates.htm

But if you use their internet banking you can put your money into e-savings which boosts the interest to nearly 5%.

Of corse, as it’s over a year away that you’re going you could always consider an ISA?

Try this site: http://www.moneysupermarket.com/savings/

Is really good for doing comparisons so can work out what is best option for you.

I went for first direct savings account on internet in end, as had good rate of interest and pays it monthly which suited me as would have taken most of money out by time the yearly interest date arrives!

definetly worth looking into ISAs as well, especially if quite a while before you are travelling!

defintely avoid getting an account where is too easy to get money out!

hope the site is useful!

Thanks for all the reply’s have heard about ISA’s will definatley look into them and check out all your links.

Thanks
Lea
xxx :D

Hi last yr i opened an account with halifax “regular saver” which is 7%. u have to set up a websaver which is 5% (but u can only online bank) if u put all ur money in the websaver n u can transfer £25-£250 per month into regular saver ur earning 5% on the money in the websaver n 7% on the money on the regular saver. u can put up to £3000 in the regular saver (£250 a month) n it comes out after a yr, I put £2000 in mine over the yr n got £100 interest in the regular saver n £35 in the websaver.  :D :D :D