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Savings advice

Since my last post received good help/advice and the group doesnt seem that busy i thought i might elaborate on my finances in case anyone has some good advice to share.

I currently have £20k worth of savings.

I now have £3600 in a Cash ISA and £16400 in a 6.30% egg savings account.

I have no mortgage, credit card debt etc.

From reading around the above setup was the best solution i could find for my £20k

Does anyone disgree and think I could make better use of the 20k elsewhere. I don't mind tieing it up short term but for peace of mind it is nice to know i can get at it if ever needed.

TIA

Reply to
M
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6.3% is OK, but it isn't the best rate you can get.

Try

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and
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Reply to
Jonathan Bryce

You should look at that rate 6.30, less 20% if you pay standard tax on it, in terms of your real rate of inflation. Unfortunately, you then have to judge whether an equity-based investment might then enable you to equal or beat whetever your actual rate of inflation is.

Toom

Reply to
Toom Tabard

great links thank you

Reply to
M

In message , M writes

I steadily fed my slightly larger savings into ISA's and ISA Bonds, the latter at 6.15% which is better than 6.3% gross if you are a tax payer.

It takes time though. :-)

Reply to
Gordon H

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