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Because he's using pounds, I assume he is in the UK, where you can get 3%-5% in current accounts within certain limits. Even on a relatively small amount of sav
by beejiu 11y ago
Because he's using pounds, I assume he is in the UK, where you can get 3%-5% in current accounts within certain limits. Even on a relatively small amount of savings, those amounts are decent enough to worry about, and it certainly makes sense to park your money in the most appropriate place. It literally takes about 2 minutes to find the best rate (with MoneySavingExpert, for example).
- callumlocke 11y agoExample: saving £200/month, with 3% interest compounded monthly - after a year you'll have saved £2,400 and earned £40 interest. Ok, day to day, £40 is real money. But £2.4k vs £2.44k, over a year of your life? I don't agree that's worth worrying about. Not if worrying about finding the best rate means choosing a bank with shit customer service or a shit website etc, which could ultimately lead to indecision, inaction, and saving less money. Maybe you're more disciplined than me though :)