# Saving for christmas 2010



## lizannecasey (30 Dec 2009)

I want to start a savings account so I don't get caught out at christmas next year.  I don't have any savings really at present.  I have shares in my credit union account but they are tied up with a loan I have.  I want to start a savings account so I have some money built up for christmas or for those 'rainy day' moments.  I wouldn't be saving alot to start with.  It may just be 40 euro a month.  I want to save it in a account that I cna't easlity access at a moments notice as I'd never save a penny.  Any suggestions would be very welcome.


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## Lightning (30 Dec 2009)

Check out the regular saver best buys here. 

Give that you will be saving just 40 EUR a month, I suggest the below product ...



> *Ulster Bank: Regular Saver*
> _*3.50%*_
> Note 1: Regular lodgements required (standing order only)
> Note 2: Minimum €1 a month; Maximum €1,000.
> ...


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## gabsdot (31 Dec 2009)

You can open a deposit account with the CU. I save a certain amount to the CU each month to cover car, house, health insurance when they come due and to cover Christmas expenses. I pay by DD from my bank account  each month.


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## z101 (31 Dec 2009)

Dont Halifax have a regular savings account that pays 3.75% up to 10k ?


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## Lightning (1 Jan 2010)

Gadsdot - You will not get a good return for your money at the CU. 

Ceatharlach - It is not a regular saver product, it is a lump sum product. It would be an option for the OP to consider. 



> *[broken link removed]*
> _*3.75%*_  up to €10,000
> _*2.00%*_ on €10,000 to €250,000 maximum.
> Note 1: Instant access
> ...


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## birdy (1 Jan 2010)

It would be worth checking if your employer had anything in place also, or even to put the suggestion to them.

Last Janurary my employer started a monthly savings scheme, began in February until November - 10 months, it was great, I got €1000 back. When its taken out of your wages you really don't feel it.


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## IsleOfMan (2 Jan 2010)

gabsdot said:


> You can open a deposit account with the CU. I save a certain amount to the CU each month to cover car, house, health insurance when they come due and to cover Christmas expenses. I pay by DD from my bank account each month.


 
My Credit Union only paid a dividend of 1% last year. The problem with the CU is that you don't know the interest you will receive in advance.


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## Lightning (2 Jan 2010)

1% is a very poor return. 

Have you moved your savings elsewhere to get a good return for your money?


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## kbie (2 Jan 2010)

My Credit Union paid 3.75% dividend and 10% rebate on loan interest. 

Unfortunately, this past year I only had a small amount on deposit and no loan so I lost out on both counts. If I had suspected the rates would have been as good this is where I would have invested, or perhaps borrowed from them.


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## Lightning (3 Jan 2010)

That is a rare exception to the overwhelming general rule of thumb when it comes to comparing CU and bank deposit returns.


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## kbie (4 Jan 2010)

Yes fungus I realise this, I assume it was because there was no dividend paid the previous year due to legal difficulties. Nevertheless anyone who was received it got a nice reward.


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## so-crates (4 Jan 2010)

ParkLane said:


> My Credit Union only paid a dividend of 1% last year. The problem with the CU is that you don't know the interest you will receive in advance.


 
Not that it may make much difference to the return but CU deposit accounts attract interest not dividends (they are not shares). Generally the interest rate is available in advance unlike the dividend.


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## Guest110 (23 Dec 2010)

Is there any other options for this for 2011 savings ? 
Does anyone know if there is any savings that you can do that is like the tv licence stamp, whereby you cant cash it in and you can't use it untill a required month ?


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