Paul_J
Member
Registered: 6th Jun 02
Location: London
User status: Offline
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Just wondering how much people keep in their current accounts, before deciding the rest should be moved to savings.
I know many of my friends have nothing in their current accounts, or are in negative figures. Some people I know literally only keep spare cash in their current account (a few hundred) and put the rest in to their savings account.
I don't feel comfortable unless I have about 2k sitting in my current account at any time, am I just completely wasting my money (as current account interest is rubbish).
If my balance goes over 2k (i.e. pay day) I just shift a load into savings, if my balance starts dropping in the current account, I feel uneasy lol (despite knowing that the majority of my money is safe in my savings account and if I needed any more I could just transfer it across at any time).
Most of my money is in my saving's account, but still I feel that I need to keep a fair chunk 'available' in my current account.  Is this just plain stupid?
Out of interest how much do people keep in their current accounts before shifting the rest into savings.
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Mather.16v
Member
Registered: 1st Nov 04
Location: Stockport
User status: Offline
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i keep the bulck of my money in my savings account (3/4k) and leave just enough in my current account to get me threw the month ie until pay day
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willay
Moderator
Organiser: South East, National Events
Premium Member
Registered: 10th Nov 02
Location: Roydon, Essex
User status: Offline
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throw the majority into my savings, have 500~1000 in my current at all times.
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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I literally leave about £200 in the current account. My pay goes to clear the credit card and the rest is shifted out straight after. Can't see the point leaving it there when I can instantly transfer it to higher interest accounts.
[Edited on 29-03-2007 by aPk]
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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I used to try and keep between 500-700 in the current account and the rest in savings. Opened up a new account recently so my moneys all over the place 
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topshot_2k
Banned
Registered: 1st Dec 03
Location: Northampton Drives: Pug GTi-6
User status: Offline
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I move £400 into savings every month, then spend what need for the month, anything left over stays in there
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Rachel H
Member
Registered: 12th Nov 03
Location: Berks
User status: Offline
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I hardly ever leave anything in my current account, I switch it over to savings straight away, if I need to buy anything expensive I just switch the money back, only takes 2 minutes on online banking.
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MatthewR
Member
Registered: 21st Oct 02
Location: Rickmansworth
User status: Offline
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Im always skint
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chr15barn3s
Member
Registered: 5th Oct 03
Location: Farnborough
User status: Offline
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I really need to start putting money into my savings account then I wouldnt be tempted to spend it
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dazavich
Member
Registered: 27th Sep 06
Location: Greenock, Inverclyde
User status: Offline
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My balance -£983.84 
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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I don't think of it like that.
I pay as much off the mortgage as possible and borrow to spend. Its cheaper than having cash in the bank for no reason whatsoever.
Just in case what for? I far prefer having the ability to lay my hands on money when I need to than sitting looking at a big balance while incurring interest elsewhere.
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Tom
Member
Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
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I spend like a mother fucker tbh.
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VegasPhil
Premium Member
Registered: 16th Jan 05
Location: Fareham, Hants Drives: Octavia VRS
User status: Offline
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I save for impulse buys
I've got an ISA for no reason which I finished today
Corsa 2.0 16v Vegas - Sold
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Cybermonkey
Member
Registered: 22nd Sep 02
Location: Sydney, Australia
User status: Offline
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i have 15 currants in my account (and 3 raisins  )
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dave17
Member
Registered: 3rd Sep 02
Location: Greater London
User status: Offline
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My balance is about £-1200, i just get payed, clear the OD and then go right back upto the limit again, i put £425 a month into another account to pay for holidays, thats it
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Half Pint
Member
Registered: 25th Mar 02
User status: Offline
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it all depends on what i'm buying or doing month on month, i do have one account with the rainy day fund but that's got around 5% interest rate.
most of my money is tied into shares as it is all taken at source, i.e. pre tax, so mr brown can go poke income tax... 
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mooney
Member
Registered: 20th Oct 05
Location: north west uk
User status: Offline
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i try to keep as little as possible in my current account, there has been loads of cards skimmed lately round here so dont want to take the chance of some cunt robbing all my wages
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hack3tt
Member
Registered: 4th Jan 06
Location: Coventry
User status: Offline
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As a general rule i keep my savings at £0.00
And my Current account at my O/D limit.
Get paid - pay everyone, stick most in Joint account to cover bills & rent, then withdraw the left over £5.00 and buy a pint.
although i am finally debt free after this months final payment of £100.
£7,500 of debt in just under 18 months! 
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GT4Brody
Member
Registered: 26th Sep 01
Location: south
User status: Offline
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quote:
Originally posted by Ian
I don't think of it like that.
I pay as much off the mortgage as possible and borrow to spend. Its cheaper than having cash in the bank for no reason whatsoever.
Just in case what for? I far prefer having the ability to lay my hands on money when I need to than sitting looking at a big balance while incurring interest elsewhere.
you got one of those "one" mortgage accounts Ian?
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--Dave--
Banned
Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
User status: Offline
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I was thinking of switching to a One Account....
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Kathryn W
Member
Registered: 12th Oct 03
Location: Widnes, Cheshire
User status: Offline
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I have got £5k in an icer thing which i cant recieve till im 25..
Currently putting £100 into another account a month...
And whatever is left in my account at the end of the month which is normally about £300-£400!
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dave17
Member
Registered: 3rd Sep 02
Location: Greater London
User status: Offline
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I just spunk all my money, going out and romancing is an expensive business
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ed
Member
Registered: 10th Sep 03
User status: Offline
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I have nothing because I keep on getting given dodgy cheques from work. When the company goes bankrupt though I will buy all the IPR and patents to the products and turn the business priftable again. That will fill my account up 
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JM_16v
Member
Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
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usally bordering between 1k and 0
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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quote:
Originally posted by ed
I will buy all the IPR and patents to the products and turn the business priftable again. That will fill my account up
Sounds like a you've planned it for some time
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