N/SIDEPEOPLE
Registered User
- Messages
- 12
I realise with on-line banking transferring money, setting up S/O’s, DD’s and opening new a/c’s doesn’t take a lot of time anymore. But how much extra money do you really make if you drip-feed rather than leaving a lump-sum in a high interest deposit a/c?
I urge someone to calculate (in spreadsheet form) the extra possible return available for drip-feeding in 2008.
Considerations for the calculations:
· You have the funds to make maximum contributions to each reg. saver a/c (maybe €100,000).
· You’re signed up to Anglo 7% (1,000), Anglo 8% (1,000), INBS 7.35% (1,000), FA 7.15% (1,000), AIB 7.3% (300), Halifax 7% (350), BOI 7% (500).
· All a/c’s stay open for 2008 & all rates stay unchanged for the period.
· Ignore Halifax may possibly reduce/increase/close next month.
· BOI Easysaver will drop to 3% when you reach 5,000 – so you’ll have to move money back to your 5% in Nov. & Dec.
· You continue with 12 monthly max contributions to all a/c’s open on 1/1/08.
· You apply the max monthly contributions available for all accounts that opened during 2008.
· You’re drip feeding from a high rate 5% deposit a/c.
· You’re using a clearing a/c to transfer funds from 5% a/c to reg. saver a/c’s and you’ve set up a S/O or a DD for each reg. saver a/c.
· You transfer 1 single amount on the 1st of each month from high interest a/c to clearing a/c(total possible contributions for that month)
· Using this clearing a/c means you lose 5 days of possible interest a month (i.e the time it takes to transfer money from 5% a/c to 7%+reg. save a/c)
Is there any mathematician out there?
I urge someone to calculate (in spreadsheet form) the extra possible return available for drip-feeding in 2008.
Considerations for the calculations:
· You have the funds to make maximum contributions to each reg. saver a/c (maybe €100,000).
· You’re signed up to Anglo 7% (1,000), Anglo 8% (1,000), INBS 7.35% (1,000), FA 7.15% (1,000), AIB 7.3% (300), Halifax 7% (350), BOI 7% (500).
· All a/c’s stay open for 2008 & all rates stay unchanged for the period.
· Ignore Halifax may possibly reduce/increase/close next month.
· BOI Easysaver will drop to 3% when you reach 5,000 – so you’ll have to move money back to your 5% in Nov. & Dec.
· You continue with 12 monthly max contributions to all a/c’s open on 1/1/08.
· You apply the max monthly contributions available for all accounts that opened during 2008.
· You’re drip feeding from a high rate 5% deposit a/c.
· You’re using a clearing a/c to transfer funds from 5% a/c to reg. saver a/c’s and you’ve set up a S/O or a DD for each reg. saver a/c.
· You transfer 1 single amount on the 1st of each month from high interest a/c to clearing a/c(total possible contributions for that month)
· Using this clearing a/c means you lose 5 days of possible interest a month (i.e the time it takes to transfer money from 5% a/c to 7%+reg. save a/c)
Is there any mathematician out there?