Discussion
I do.
If you spend £2.30 on a coffee it lets you 'round up' to £3.00. The 0.70p is then stored on the app. The process is repeated on every transaction you make and you can then choose once a week to round up these costs or discard them. Money is then dd from your current account.
Money goes in a stocks and shares ISA, you get a choice of 3 risk profiles.
Set it up in October and just shy of £200 in there now. It's made about 2%. Just a bit of fun really, probably pay for Christmas next year.
If you spend £2.30 on a coffee it lets you 'round up' to £3.00. The 0.70p is then stored on the app. The process is repeated on every transaction you make and you can then choose once a week to round up these costs or discard them. Money is then dd from your current account.
Money goes in a stocks and shares ISA, you get a choice of 3 risk profiles.
Set it up in October and just shy of £200 in there now. It's made about 2%. Just a bit of fun really, probably pay for Christmas next year.
Another way to collect a little extra cash.
Credit cards are now offering carrots to entice new customers.
This is in the US, but marketing is universal, so opportunities should pop up in UK.
I'm on my third one now.
First one was spend 500 in 90days and get 100 cash back. TD bank.
Second one, using my wife, 150 for spending 500 in 90 days (same bank)
Barclay card 200 for spending 500 in 90days.
All also give an average of 1.5% regular cash back.
Credit cards are now offering carrots to entice new customers.
This is in the US, but marketing is universal, so opportunities should pop up in UK.
I'm on my third one now.
First one was spend 500 in 90days and get 100 cash back. TD bank.
Second one, using my wife, 150 for spending 500 in 90 days (same bank)
Barclay card 200 for spending 500 in 90days.
All also give an average of 1.5% regular cash back.
callmedave said:
Ive just seen the advert too and looked in to setting it up.
OP did you go for it?
I didn't go for it in the end. I worked out that I don't do enough transactions a week to make it work for me. If you buy lunch, coffee, snacks daily then It's good but I do a weekly shop and not much more so wouldn't be worth while. OP did you go for it?
Lloyds do a similar thing called "save the change" where it rounds up money spent on debit cards to the nearest pound and puts the money in a nominated account, I'm sure you could set this to be some S&S ISA or similar? There's no costs or charges for this.
I just have it go into a boggo instant access account, but it's surprising how quickly the pence add up to pounds
I just have it go into a boggo instant access account, but it's surprising how quickly the pence add up to pounds
Wouldn't work for me as I'm not up for paying £2.30 for a coffee in some of these high street joints.
https://www.youtube.com/watch?v=gr3CqlRVUhE
https://www.youtube.com/watch?v=gr3CqlRVUhE
Zingari said:
Wouldn't work for me as I'm not up for paying £2.30 for a coffee in some of these high street joints.
https://www.youtube.com/watch?v=gr3CqlRVUhE
https://www.youtube.com/watch?v=gr3CqlRVUhE
So I've been using this for about a month now and been putting in £10 a week to trial it.
1st week I went for high risk/high pay option, immediately lost 26p. changed my setting to invest in medium risk, medium gains and continued putting in £10 a week. now I'm at -6p. so its almost made the lost money back.
It's free for the first 3 months, then you are charged £1 per month, rough man maths, you would need to deposit ~£50 a week in order for it to pay for itself.
Pros - Very easy to set up and operate, I only check it a few times a week as it doesn't need any input to keep going.
You can set it to take £X per week, or 'round-ups' - If you spend £1.23 then you have the option to add 68p to your total that gets withdrawn on a Wednesday, you can have a set amount and add your round ups to it. I add it if it's under 50p, dismiss it if it's over 50p, easy with a swipe left or right.
Cons - Investments are slow, Money taken takes about 2 weeks to get invested and any funds returned to you. Not the best return for your cash.
I have not withdrawn any cash yet so not sure on that process, but it does say it can take 2 weeks. I will keep adding £10 a week as its still a good tool for saving (which I'm terrible at)
1st week I went for high risk/high pay option, immediately lost 26p. changed my setting to invest in medium risk, medium gains and continued putting in £10 a week. now I'm at -6p. so its almost made the lost money back.
It's free for the first 3 months, then you are charged £1 per month, rough man maths, you would need to deposit ~£50 a week in order for it to pay for itself.
Pros - Very easy to set up and operate, I only check it a few times a week as it doesn't need any input to keep going.
You can set it to take £X per week, or 'round-ups' - If you spend £1.23 then you have the option to add 68p to your total that gets withdrawn on a Wednesday, you can have a set amount and add your round ups to it. I add it if it's under 50p, dismiss it if it's over 50p, easy with a swipe left or right.
Cons - Investments are slow, Money taken takes about 2 weeks to get invested and any funds returned to you. Not the best return for your cash.
I have not withdrawn any cash yet so not sure on that process, but it does say it can take 2 weeks. I will keep adding £10 a week as its still a good tool for saving (which I'm terrible at)
Gassing Station | Finance | Top of Page | What's New | My Stuff