Resolved Question
What do you think of my savings plan? (I am moving out shortly so it is vital!!!)?
I am 17 and in college, I don't have a paid job yet but will be doing voluntary (will try find a few hours at night for paid work, moving out shortly).
I want to save half of everything (except maybe when I HAVE to break into it if I go on holiday in october). I get £30 a week EMA so I am thinking of saving £15 of it every week. What do you think?
I want to save half of everything (except maybe when I HAVE to break into it if I go on holiday in october). I get £30 a week EMA so I am thinking of saving £15 of it every week. What do you think?
Best Answer - Chosen by Asker
If you can afford to save £15 every week, that would be an excellent start. Then when you are working, you could save more. Put your money somewhere you will get interest on it. Check out the different options at
http://www.moneysupermarket.com/savings/…
There are very few who let you do the banking over the counter, but if you are OK with internet banking, most of them fit the bill. Check out the details before you make a decision.
If you find you can indeed save £15 a week without running short, you could consider a Regular Savings account.Check the details carefully - some allow no withdrawals (to get your money you have to close the account), some require deposits by standing order which means you need another bank account someplace, and some have other restrictions. The interest rate is higher, but the terms and conditions could be awkward.
Good luck !!!
http://www.moneysupermarket.com/savings/…
There are very few who let you do the banking over the counter, but if you are OK with internet banking, most of them fit the bill. Check out the details before you make a decision.
If you find you can indeed save £15 a week without running short, you could consider a Regular Savings account.Check the details carefully - some allow no withdrawals (to get your money you have to close the account), some require deposits by standing order which means you need another bank account someplace, and some have other restrictions. The interest rate is higher, but the terms and conditions could be awkward.
Good luck !!!
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