Best options for my savings

[Simpo Two]

Craikeybaby said:

Could explain why our usual one avoided my calls/emails about this. I bet he'll be in touch soon enough when the mortgage needs renewing though

He could at least have trotted out 'Aha well if I had a crystal ball we'd all be rich...'

You get on the roller coaster, you go up, you go down, the IFA takes the ticket money

[Craikeybaby]

I didn't even get that far with the IFA! That was all sorted out myself, as the IFA didn't get back to me about setting up investments.

I realise that investments go up as well as down, and as I am investing monthly some of the investments will be at the lower price.

[Simpo Two]

Craikeybaby said:

I didn't even get that far with the IFA! That was all sorted out myself, as the IFA didn't get back to me about setting up investments.

I realise that investments go up as well as down, and as I am investing monthly some of the investments will be at the lower price.

'Pound cost averaging'. Yep, you seem pretty buttoned down

[Craikeybaby]

I didn't know the name for it, but thanks!

[Craikeybaby]

After putting my savings into a S&S ISA days before the China crash, my ISA is now worth more than I've paid in to it. So probably back to where I would have been if I left it in my regular savings account. Hopefully it continues increasing now.

The Santander account is doing much better £120 up, so once again, thanks for the recommendation on here!

[Craikeybaby]

I thought I'd update this 12 months out from setting up the ISA.

On the stocks & shares ISA I'm £61.26 up on what I've paid in, but most importantly there is money going in automatically each month and I'm over halfway to my initial target.

Thanks to this thread we made just under £200 on the money that had been set aside for our wedding & some projects on the house, by switching to the Santander 123 account. Now our saving have been depleted the 123 isn't worth the fee for us, so got £100 for switching to first direct.

Edited by Craikeybaby on Tuesday 21st June 13:02

[covmutley]

Assuming that return is based on £150 per month for a year its not too bad is it.

I am also drip feeding money into a stocks and shares ISA, but only about £100 per month at the moment (on top of £1k I had in thee already) - still a little skint after moving house at Christmas!

But to kick start it, I have borrowed £2k on an interest free credit card for 18 months (£38 money transfer fee) and put in to 2 funds. So instead of paying the £100 into the ISA, I pay off the credit card monthly. Hopefully I have done the right thing and I will see a return on the borrowed money!

My dad has averaged about 8% per year on his funds over the last 5 years or so

[Craikeybaby]

That was based on £125 per month, with £1k to start, it did get up to £100 up last week, but has dropped back a bit now.

[SVS]

Has the best option for savings changed after the Brexit vote, I wonder?

[Craikeybaby]

No! I was expecting it to have gone down, but it has increased slightly over the last few days.

[Ginge R]

Craikeybaby said:

I thought I'd update this 12 months out from setting up the ISA.

On the stocks & shares ISA I'm £61.26 up on what I've paid in, but most importantly there is money going in automatically each month and I'm over halfway to my initial target.

Thanks to this thread we made just under £200 on the money that had been set aside for our wedding & some projects on the house, by switching to the Santander 123 account. Now our saving have been depleted the 123 isn't worth the fee for us, so got £100 for switching to first direct.

Edited by Craikeybaby on Tuesday 21st June 13:02

Buying fund units cheaply can work brilliantly, use volatility to your advantage. When the markets grows, you should rebound strongly.