So I think recently that money management requires a /lot/ of research to get the most out of your money. As a forum centred around financial services I reckon we’re in the best position to work out the best way to save money and capitalise on current offers.
I’ll be posting my current money movement and accounts in an update to this thread. Right now I’m just working out how to move money between accounts via standing orders to make the most possible cash via interest.
EDIT: Currently my accounts stand as follows. (not including longer-term non-liquid assets; for example stonks)
- Starling (0,05% interest)
- Halifax (5 a month. 500 monthly card payments required. 1,5k monthly pay-in required)
- Revolut (0%)
- FlexDirect (2% interest 1,5k cap. 1k monthly pay-in required)
- Crypto.com Earn TGBP (10% interest)
- NS&I Premium Bonds (effectivelly 0%)
- Marcus (1,05% interest)
- Virgin Money (2% interest 1k cap)
I’m having the issue of not knowing when they pay standing orders out. But if it works how I think, I can pay 1500 from Nationwide into Halifax then transfer 1000 back into Nationwide. Then I can pay the remaining 500 into Starling/Revolut using card top-ups
I think I should clear my Premium Bonds and maybe swap for income bonds or alternatively pay them into a higher interest paying account
Edit 2: I’ve scheduled withdrawal for Premium Bonds and will be moving them to TSB, probably. I will also be moving money for my phone savings to a Regular Saver w/ Coventry BS
Edit 3: Opened account w/ Coventry BS and will be using that for saving for my phone will be increasing the monthly payment by double since I might as well