mattyg1086 Posted July 17, 2016 Report Share Posted July 17, 2016 I have a wife and two small children that like to empty my bank whenever they can what are the best ways to save up some cash. I'm not talking packed lunch for work instead of buying something I mean isas or savings accounts that type of thing Quote Link to comment Share on other sites More sharing options...
hawkfanz Posted July 17, 2016 Report Share Posted July 17, 2016 ur wasting your time with thinking like that,buy collectable items that you cant lose on,eg royal mint coins,special issue £100 silver coins thats the face value,cant lose you can always spend them,available in £20,£50, £100 denominations. Quote Link to comment Share on other sites More sharing options...
felly100 Posted July 17, 2016 Report Share Posted July 17, 2016 Work more,spend less. Job done. Quote Link to comment Share on other sites More sharing options...
paul65 Posted July 17, 2016 Report Share Posted July 17, 2016 ur wasting your time with thinking like that,buy collectable items that you cant lose on,eg royal mint coins,special issue £100 silver coins thats the face value,cant lose you can always spend them,available in £20,£50, £100 denominations. http://www.thisismoney.co.uk/money/investing/article-3543365/As-Royal-Mint-launches-5-souvenir-Queen-s-heads-win-tails-lose-coins.html Quote Link to comment Share on other sites More sharing options...
spandit Posted July 18, 2016 Report Share Posted July 18, 2016 I've got a bit in zopa.com (P2P lending) and some premium bonds but most of it goes on my mortgage Quote Link to comment Share on other sites More sharing options...
mattyg1086 Posted July 18, 2016 Author Report Share Posted July 18, 2016 I've got a bit in zopa.com (P2P lending) and some premium bonds but most of it goes on my mortgage and how does this work can you access your money if and when you need to or is it more of a long term thing Quote Link to comment Share on other sites More sharing options...
bluesj Posted July 18, 2016 Report Share Posted July 18, 2016 a nice classic car if you have somewhere to keep it. Most if not all are going up in price, you can get your money out of it when you like and often quicker than a lot of isa type accounts plus you get to take it for a drive, you can't do that with a bank statement Quote Link to comment Share on other sites More sharing options...
winnie&bezza Posted July 18, 2016 Report Share Posted July 18, 2016 Buy some gold and sit on it til prices go sky high again. Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted July 18, 2016 Report Share Posted July 18, 2016 At the moment with interests rates so low you'd probably be best slamming extra money into paying off the mortgage, as you'd save lots in the long run and savings accounts don't give much interest ATM. Failing that I think that 123 account is offering highest interest rates on accounts. Quote Link to comment Share on other sites More sharing options...
Davyo Posted July 18, 2016 Report Share Posted July 18, 2016 I have 3 accounts with same bank, main account just leave money in for DD's, second account with debit card for groceries & leisure money.Third account has no debit card and i just pop money in there every mth for savings, holls,emergencies ect. What i do is both our pays go in on the last Working day of the Month (plus 3 pensions but diff dates in the month) to the main account.I simply leave enough, plus a bit over to cover all the DD's, I put an amount in the savings account & the rest goes in the monthly spend account.As LLoyd90 says the biggest noose round anyone's neck is the Mortgage, i was fortunate enough to pay mine off when i took a redundancy in 91, but if i had one today id be banging any spare cash at that. The downside to having no Mortgage or credit cards is no one wants to give you finance as we found out when the wife wanted a new car. Fortunately Ford came to the rescues so my wife can change her car every 3 yrs. Quote Link to comment Share on other sites More sharing options...
hawkfanz Posted July 18, 2016 Report Share Posted July 18, 2016 http://www.thisismoney.co.uk/money/investing/article-3543365/As-Royal-Mint-launches-5-souvenir-Queen-s-heads-win-tails-lose-coins.html yes but i buy them at face value,not the overpriced ones. Quote Link to comment Share on other sites More sharing options...
NorfolkAYA Posted July 18, 2016 Report Share Posted July 18, 2016 Premium bonds the more you have the more likely you are to win. Quote Link to comment Share on other sites More sharing options...
BrowningB525 Posted July 18, 2016 Report Share Posted July 18, 2016 yes but i buy them at face value,not the overpriced ones. Please can you post a little more about what you do and where you buy them from. This sounds a good zero risk investment. Quote Link to comment Share on other sites More sharing options...
old'un Posted July 18, 2016 Report Share Posted July 18, 2016 ur wasting your time with thinking like that,buy collectable items that you cant lose on,eg royal mint coins,special issue £100 silver coins thats the face value,cant lose you can always spend them,available in £20,£50, £100 denominations. Only trouble with modern bullion coins is you only get back what the bullion price is on the day you sell them, like any investment the price can go up as well as down and bullion can have some of the biggest swings in price, its bit different for rare collectable coins. Quote Link to comment Share on other sites More sharing options...
Davyo Posted July 18, 2016 Report Share Posted July 18, 2016 Be careful where you buy your coins from, there was a interesting article about 12mths back about some of these UK sellers.The ones you find their bumf in the tv times ect. People paying hundreds for coins that are worthless. Quote Link to comment Share on other sites More sharing options...
old'un Posted July 18, 2016 Report Share Posted July 18, 2016 Be careful where you buy your coins from, there was a interesting article about 12mths back about some of these UK sellers.The ones you find their bumf in the tv times ect. People paying hundreds for coins that are worthless. You would probably do better just buying silver or gold ingots and sit on them. Like any investment its a long term thing. Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted July 18, 2016 Report Share Posted July 18, 2016 Gold is massively up at the moment following Brexit( or at least it was) should things settle as they inevitable will it has a potential to decline rapidly, since it went up so rapidly. I wouldn't be looking at gold at such a volatile time personally. Gold before Brexit would have been a good investment. Quote Link to comment Share on other sites More sharing options...
Fuji Shooter Posted July 18, 2016 Report Share Posted July 18, 2016 (edited) We have 3 Santander 123 accounts and (1 joint and 1 each) and just stick the maximum in each of them, better than nothing. Anything spare goes into Land Rovers or VW Camper Vans. Edited July 18, 2016 by Fuji Shooter Quote Link to comment Share on other sites More sharing options...
B25Modelman Posted July 18, 2016 Report Share Posted July 18, 2016 There is BA you can put your money into. Forget gold, it has not moved enough. Also its a big outlay for a small short term return at the moment. Anything else you gotta spend a lot for a decent return. Chicken and egg situation. ISA's are at 1 to 1.3% which at the end of the day (12 months) aint worth the trouble. Premium Bonds, while only yielding 1%, at least its a gamble you just might win. Stocks and shares are long term. Lottery, if you control the outlay, £1 or £2 a week might be worth the gamble. Quote Link to comment Share on other sites More sharing options...
Blackpowder Posted July 18, 2016 Report Share Posted July 18, 2016 I have a wife and two small children that like to empty my bank whenever they can what are the best ways to save up some cash. I'm not talking packed lunch for work instead of buying something I mean isas or savings accounts that type of thing Nothing wrong with a lunch you make yourself, many times better than some of the ready made options. Blackpowder Quote Link to comment Share on other sites More sharing options...
Oxfordshooter Posted July 18, 2016 Report Share Posted July 18, 2016 Substitute onions for apples, they are far cheaper by the pound. Quote Link to comment Share on other sites More sharing options...
islandgun Posted July 18, 2016 Report Share Posted July 18, 2016 Substitute onions for apples, they are far cheaper by the pound. onion crumble is rank as is onion and blackberry pie Quote Link to comment Share on other sites More sharing options...
Oxfordshooter Posted July 18, 2016 Report Share Posted July 18, 2016 onion crumble is rank as is onion and blackberry pie ...well you get used to it eventually Quote Link to comment Share on other sites More sharing options...
four-wheel-drive Posted July 18, 2016 Report Share Posted July 18, 2016 As has been said I had my money in a normal savings account and a normal current account getting little or no inttrest from ether of them and that was with Santander then one day I had to go into the bank to get some cash and got talking to them they advised me to change to a 123 account and I now get interest and money back on all of my DD well worth the effort. The problem with buying gold and silver first you have to pay 20% VAT on silver not gold but who can afford gold anyway at £1000 per oz not me anyway then when you try to sell it you will get just over half of what it cost you in the first place as the dealers are not selling and buying it for fun. Quote Link to comment Share on other sites More sharing options...
12borebanger Posted July 18, 2016 Report Share Posted July 18, 2016 (edited) Invest in property. If you can't afford another property of your own look at something like this https://propertypartner.co Edited July 18, 2016 by 12borebanger Quote Link to comment Share on other sites More sharing options...
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