It’s all about the money

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It’s getting to that time of year when I like to get my backside in gear and sort out my accounts.  That’s my savings accounts rather than business accounts, although this year I will need to do this as well for the first time (scary).  I’m a bit obsessed with moving around my money and making sure I continue getting a good deal, and now we’ve got N it’s more important than ever.

I’m a big fan of Martin Lewis’ Money Saving Expert site and newsletter for getting updates on the best bargains and good deals, but I do tend to do my own research as well.  Whatever you choose needs to be right for you, not just what’s the best of the best deals.

While on maternity leave I obviously had to curtail my savings as my income was all over the place for the year, so the year I was pregnant I saved like mad to cover myself while I wasn’t working.  I reduced right down my standing orders to my various savings accounts, but now it’s time to work out what I can afford to save and work out which of my accounts I continue, and which have come to the end of their annual first year bonus and so need moving to another account.

My focus:

1. ISAs.  I’m a scaredy cat and not willing to get less money out than I put in, so I stick with the cash versions.  Time to upgrade as I do every year.
2. Savings.  I used to have a few accounts, but now have only one (now there’s a higher allowance for ISAs, I don’t find so much of a need to have as many savings accounts as I did at one stage).  I’m pretty pleased with my savings account (I have an online one), but it’s annoying that the interest comes into my current account so I need to make sure each month that goes back to the savings account to get the most returns.
3. N’s accounts.  We missed the child trust fund, so we do now have the opportunity for having a junior ISA.  However, they only seem to be stocks & shares, so I’ll be sticking with traditional savings accounts, until I have a decent lump sum to put away for him in a fixed term account.

I seem to have no idea at the moment what I need to organise or when, so I need to get out my spreadsheets, notepad, and calculator and start my research.  I always start off thinking it’s boring sorting out my money, but actually I love it.  Takes me back to playing (and usually winning) money board games as a child and counting the swimming money at school which I loved doing.