Where are your savings kept?

KingstonSeagull · Oct 12, 2016

So I have some of my money in p2p lending with Funding Circle and so far I am relatively happy with them, getting solid returns of about 7.2% at the moment, I am thinking about putting some more money in to one of their rivals that do more first charge secured lending as I think this is a safer option.

The rest of my money is currently sitting in a savings account earning a real interest rate of bugger all and soon to be negative if interest rates do go up as a result of a falling pound...

So where do you park your money? What sort of returns are you getting? How secure is it?

Triggaaar · Oct 12, 2016

Is this the most middle class thread ever Easy10?

Puppet Master · Oct 12, 2016

In my socks under the bed, it's much safer than laundering it now.

smeg · Oct 12, 2016

I've opted for the mortgage route to saving, in essence bugger all in the bank but a pack of cards portfolio of flats, houses and an office in Hove, if it goes wrong i'm fooked

Taybha · Oct 12, 2016

£7.65 in my jeans , the rest in a big bottle in my cupboard , by the time its full i shall own 37% of 2ps in circulation .

LamieRobertson · Oct 12, 2016

KingstonSeagull said:
So I have some of my money in p2p lending with Funding Circle and so far I am relatively happy with them, getting solid returns of about 7.2% at the moment, I am thinking about putting some more money in to one of their rivals that do more first charge secured lending as I think this is a safer option.

The rest of my money is currently sitting in a savings account earning a real interest rate of bugger all and soon to be negative if interest rates do go up as a result of a falling pound...

So where do you park your money? What sort of returns are you getting? How secure is it?

Which rival? I use Moneything/Savingstream and Collateral for secured lending and Ratesetter/Zopa as a variation ...my ISA is geared towards bonds at the moment with some stocks for a bit of spice...premium bonds for my 'ready' cash

KingstonSeagull · Oct 12, 2016

Triggaaar said:
Is this the most middle class thread ever Easy10?

Oh I'm sorry. I mean I SPEND IT ON FAGS, BEER AND IN THE BOOKIES! Happy? :cheers:

LamieRobertson · Oct 12, 2016

Puppet Master said:
In my socks under the bed, it's much safer than laundering it now.

Unless you wash them? :moo:

KingstonSeagull · Oct 12, 2016

LamieRobertson said:
Which rival? I use Moneything/Savingstream and Collateral for secured lending and RatesetterZopa as a Variation ...my ISA is geared towards bonds at the moment with some stocks for a bit of spice...premium bonds for my 'ready' cash

MoneyThing and Savingstream is what I was leaning towards and maybe Assetz. I might stick some in Zopa as I like the idea of the reserve buffer they have.

Nathan · Oct 12, 2016

Savings?

Paul Reids Sock · Oct 12, 2016

I wish I had savings. Just bought a house a puppy and having a second child.

I have about £500 rainy day money in a savings account but also have around £400 of shares in the company I work for and get another £50 each month from salary. They should make some money over the next few years and that will become savings I guess.

Looking to start saving properly next year and get funds set up for both kids if they want to go to uni.

Triggaaar · Oct 12, 2016

Paul Reids Sock said:
Looking to start saving properly next year and get funds set up for both kids if they want to go to uni.

I want the best for my kids, so I'm thinking of ensuring they're not educated enough to get to uni. They don't need that much debt.

studio150 · Oct 12, 2016

Just transferred all my savings to a Nigerian bank as they are going to treble my savings by Christmas

Deleted member 2719 · Oct 12, 2016

KingstonSeagull said:
So I have some of my money in p2p lending with Funding Circle and so far I am relatively happy with them, getting solid returns of about 7.2% at the moment, I am thinking about putting some more money in to one of their rivals that do more first charge secured lending as I think this is a safer option.

The rest of my money is currently sitting in a savings account earning a real interest rate of bugger all and soon to be negative if interest rates do go up as a result of a falling pound...

So where do you park your money? What sort of returns are you getting? How secure is it?

I was going to look into this.

Would you put your whole pot in P2P lending then?

How safe is it?

Can you have a quick withdrawal if need be ? or does it just get messy. :hilton:

KingstonSeagull · Oct 12, 2016

studio150 said:
Just transferred all my savings to a Nigerian bank as they are going to treble my savings by Christmas

I got a call from George Agdgdgwngo who informed me that my bank vault had to be cleaned so took my sort code and account number, I am hoping to get all my money back after they are done cleaning my bank account.

KingstonSeagull · Oct 12, 2016

Mouldy Boots said:
I was going to look into this.

Would you put your whole pot in P2P lending then?

How safe is it?

Can you have a quick withdrawal if need be ? or does it just get messy.

I am thinking probably between 10-20%, some accounts offer easy access(with a lower rate of interest) others you have to sell your loan parts to other investors in order to pull your cash out.

Deleted member 2719 · Oct 12, 2016

KingstonSeagull said:
I am thinking probably between 10-20%, some accounts offer easy access(with a lower rate of interest) others you have to sell your loan parts to other investors in order to pull your cash out.

Ok Cheers, sorry i could not help you i am still looking for the best place myself.

Property in Rotherham is something i was going to look at as supposedly there is a big regeneration going on. (according to someone i spoke to yesterday)

Have you looked at that sort of thing?

happypig · Oct 12, 2016

Putting a lot into pension AVCs. Got some shares.

Best value though is a biscuit tin full of Euros which, thanks to brexit, is rocketing in value.

SK1NT · Oct 12, 2016

My work shares have matured this month and i was thinking about putting them into a stocks and shares ISA. I am not sure if this is the best thing to do.

I have a bit of cash just sitting in my current account getting f all interest but i want my rainy day fund to be accessible quickly if i need it.

smeg · Oct 12, 2016

Triggaaar said:
I want the best for my kids, so I'm thinking of ensuring they're not educated enough to get to uni. They don't need that much debt.

HaHa

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