Saving the pennies for family treats with current accounts

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I’m a bit of a saver and a cheapskate when it comes to money.  Yes I like a bit of luxury (if I’ve saved my money or got a bargain on a nice item I’ve researched for ages), but I like to try and make my money go further.  However, I’ve had my current account since I was 17 and going off to uni, and I’m loathed to change it even though I get nothing for having it.

However the longer you’re with a bank, the more the little things annoy you, especially if you’ve no debts and want to make the most of the money you have.  And having a family means you want to make little savings to ensure you can treat the family a little on occasion without worrying too much.  So I really should think more about changing my current account…with the OH banking with the same bank, maybe it would be good to have different banks to spread the money around a bit.

There’s loads of little things that I like to splurge on, in particular family days out (well, family days being N and me, because the OH’s always working), and we’ve got annual passes for a few local locations like Blenheim Palace and Compton Verney, as well as National Trust.  But they do cost money, so if I can make savings elsewhere to ensure we can continue our day trips out, that does the job.  At the moment I use cashback sites on my spending, but I’ve not yet taken the leap of having a current account with benefits.

With newer current accounts like the 123 current account from Santander, you can save when you pay for everyday items like household bills.  I always say cashback’s a no-brainer.  If you’re buying the goods anyway, why not try and get something back.  With bills I would only benefit from cashback on phone bills and broadband, as the OH pays for the rest (we’re complicated being on a farm and part of a business), but that’s still 3% back on my bills.

What appeals even more is the interest.  I always have a bit too much in my current account that I should have transferred to my savings account, but with the 123 account, I’d be getting more interest by keeping money in my current account than even in my ISA.  Ok, so the downside (and I really begrudge this) is having to pay for the benefits at £2 a month.  But the savings I could get, and interest would more than make up for it.

So if I had a 123 current account what would I do with the extra money I received?

1. I’ve finally got on my weight loss mission, and I’ve already emptied my wardrobe of all my previously ‘thin’ old clothes.  So I would spend my new savings on buying a new wardrobe once I reach my goal weight.
2. Doing up N’s room.  N still has a hotch potch bedroom, as it was before he was born.  Old armchair, big horrible divan bed, old falling to pieces pine dresser/drawers, magnolia walls and green hideous curtains.  I’d definitely spend some money on decorating his room and getting him (the whole house too) new curtains and a decent midsleeper bed.
3. More days out….or family holidays.  Holidays or days out are always more enjoyable if you get a good deal on them.  If you’ve paid for them with money you’ve saved elsewhere, even better!

I’m obviously quite savvy about my finances, but it seems not everyone is.

Do you look after your money, or are you more relaxed about it?