Best way to save over 6 years?
Best way to save over 6 years?
Author
Discussion

Dr Murdoch

Original Poster:

3,955 posts

165 months

Sunday 8th November 2015
quotequote all
Firstly, i'm a complete numpty when it comes to finances...

I would like to save 6-7k over a period of 6 years to enable us to get our children into the secondary school we want (the one close to us is dire), so we are thinking of saving 6 months worth of rent to enable us to register at a good school. I might start a seperate thread concerning the logistics of doing this...

So, where should I think of putting my money?

davepoth

29,395 posts

229 months

Sunday 8th November 2015
quotequote all
You need to tell us what the aim is. Do you need the money to

a) Be safe; or
b) Grow.

?

Rick101

7,190 posts

180 months

Sunday 8th November 2015
quotequote all
Are you suggesting renting somewhere within the catchment area for school access?

I think thats not looked on too favourably.

Sir Bagalot

7,103 posts

211 months

Sunday 8th November 2015
quotequote all
First Direct do a nice regular savers account paying 6% interest.

Oh, and what you're planning isn't that straightforward. We have a great local secondary. Those applying on the location rule need to also provide two years worth of utility bills, including council tax. They wised up to the 6 month renterslaugh

Dr Murdoch

Original Poster:

3,955 posts

165 months

Monday 9th November 2015
quotequote all
Rick101 said:
Are you suggesting renting somewhere within the catchment area for school access?

I think thats not looked on too favourably.
Precisely this to be honest.

If I need to provide two years worth of bills then that may scupper the idea.

Dr Murdoch

Original Poster:

3,955 posts

165 months

Monday 9th November 2015
quotequote all
Sir Bagalot said:
First Direct do a nice regular savers account paying 6% interest.

Oh, and what you're planning isn't that straightforward. We have a great local secondary. Those applying on the location rule need to also provide two years worth of utility bills, including council tax. They wised up to the 6 month renterslaugh
So if you moved to a new area your children couldn't enrol at the local school for two years confused

Sir Bagalot

7,103 posts

211 months

Monday 9th November 2015
quotequote all
Dr Murdoch said:
Sir Bagalot said:
First Direct do a nice regular savers account paying 6% interest.

Oh, and what you're planning isn't that straightforward. We have a great local secondary. Those applying on the location rule need to also provide two years worth of utility bills, including council tax. They wised up to the 6 month renterslaugh
So if you moved to a new area your children couldn't enrol at the local school for two years confused
I didn't say that. If I moved here now then no they couldn't apply for the great local school... They can however apply for the other one which locals have no problem getting a space at

Dr Murdoch

Original Poster:

3,955 posts

165 months

Monday 9th November 2015
quotequote all
Sir Bagalot said:
I didn't say that. If I moved here now then no they couldn't apply for the great local school... They can however apply for the other one which locals have no problem getting a space at
I see, so even if you moved next door to the good school you wouldn't be able to enrole, you would have to go to the other school a further distance away.

Thanks.

Ive looked into it a bit more today and it seems like we have some tough decisions to make frown