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    I was wondering....

    What is the average UK current account balance??

    Anyone have any idea's?

    71 Comments

    Banned

    My account is normally about £50 over-drawn.

    always overdrawn, I wont say by how much as I may cry!
    Edited by: "ham82" 24th Jan 2011

    Original Poster

    Awww I was like that but my New years Resolution is to start squirreling away. Just wondered how much people keep in their current account before transferring into savings!

    ham82

    always overdrawn, I wont say by how much as I may cry!



    Only worry about your balance when it is above £0.00.

    For anything below that, let your bank manager worry about it.

    BFN,

    fp.

    fanpages

    Only worry about your balance when it is above £0.00.For anything below … Only worry about your balance when it is above £0.00.For anything below that, let your bank manager worry about it.BFN,fp.



    yeah, that's true. I always put it to the back of my mind but it's going to be a struggle for a while!

    Original Poster

    Didn't mean for this to be a depressing thread! oO

    Why keep 3k in there?? Cheers you up on a rainy day??

    Original Poster

    I was thinking around 2-5k. Interesting to see what people think is a "good" amount and why.

    If u have 3k in your current account it would PAY you to put it into an ISA?!?!

    Edited by: "Tanchi" 24th Jan 2011

    Tanchi

    If u have 3k in your currenty account it would PAY you to put it into an … If u have 3k in your currenty account it would PAY you to put it into an ISA?!?!



    It would, but you're only allowed to put £5100 into an ISA annually.

    jellybaby22

    I try to always keep £3000 in my current account




    dcx_badass

    I also have about £3000 in mine normally.



    It's raining here (_;)

    and there was me thinking people would mostly be saying £0! I am genuinely suprised. I never go overdrawn and i do put a few £s aside every month but my account is always near £0 by the end of the month.
    Edited by: "cdm22" 24th Jan 2011

    cdm22

    and there was me thinking people would mostly be saying £0! I am … and there was me thinking people would mostly be saying £0! I am genuinely suprised. I never go overdrawn and i do put a few £s aside every month but my account is always near £0 by the end of the month.



    tbf people can say owt does not make it true (not implying anyone is not telling the truth just saying)

    At the month end I would rarely have more than £20. But that would be because I save each month and that amount is variable and I tend to transfer what I can round about today/tomorrow.

    I would not save in my current account - savings accounts, ISAs paying extra into mortgage etc would all come before building up my current account.

    I'd guess it would only take a few people with One accounts to bring the average well below £0....

    i haven't heard a no yet!

    Banned

    Miss Money Penny

    Didn't mean for this to be a depressing thread! oO



    It doesn't depress me.

    Thank the lord I have a generous bf who looks after me very well.

    Banned

    I am surprised at the amounts people say they have when they don't seem to work.

    Maybe benefits do pay well after all oO

    I work fulltime and am ALWAYS skint. X)

    Banned

    ham82

    I work fulltime and am ALWAYS skint. X)



    People say the more you earn the more you spend (_;)

    Original Poster

    I know its really hard to save at the moment with everything shooting up in price. I just think ISA's are pointless for those wanting to save abit more than 3k a year. You can either keep that amount in your current account or have a long term savings account with a lower savings interest per annum. Not that it's a savers market at the moment anyway!

    I keep £1,000 in my current account as it pays for the mortgage, council tax etc a month, the business account keeps around £2k in it incase any equipment needs repairs unexpectedly, as for saving not much as work is really slow just now, as for answer to the op's questions have no idea

    Miss Money Penny

    Didn't mean for this to be a depressing thread! oO

    DLM

    I am surprised at the amounts people say they have when they don't seem … I am surprised at the amounts people say they have when they don't seem to work.Maybe benefits do pay well after all oO



    we know http://i816.photobucket.com/albums/zz87/Denise-66/smiley_yawn.gif




    here we go http://i266.photobucket.com/albums/ii269/theogrit/1sm067roll.gif

    Miss Money Penny

    I know its really hard to save at the moment with everything shooting up … I know its really hard to save at the moment with everything shooting up in price. I just think ISA's are pointless for those wanting to save abit more than 3k a year. You can either keep that amount in your current account or have a long term savings account with a lower savings interest per annum. Not that it's a savers market at the moment anyway!



    Or overpay on a mortgage, which usually offers far better returns than any low-risk savings in the long run...

    Banned

    Miss Money Penny

    I know its really hard to save at the moment with everything shooting up … I know its really hard to save at the moment with everything shooting up in price. I just think ISA's are pointless for those wanting to save abit more than 3k a year. You can either keep that amount in your current account or have a long term savings account with a lower savings interest per annum. Not that it's a savers market at the moment anyway!



    Me and my bf both have ISA's and because I am normally skint.

    I let him stash some cash in mine when he get's to his limit.

    Original Poster

    jah128

    Well I would but I'm selling up so for the short term I would put profits … Well I would but I'm selling up so for the short term I would put profits into a savings account as Im not re-buying at the mo.Or overpay on a mortgage, which usually offers far better returns than any low-risk savings in the long run...

    bout tree fiddy

    Original Poster

    numptyj

    bout tree fiddy



    Lol... i was waiting for that!!

    Many people have a couple of grand in their current account but owe thousands on credit and store cards so their balance is negative really

    numptyj

    bout tree fiddy



    haha

    Miss Money Penny

    Lol... i was waiting for that!!



    Original Poster

    tonyg1962

    Many people have a couple of grand in their current account but owe … Many people have a couple of grand in their current account but owe thousands on credit and store cards so their balance is negative really



    I agree... false economy to save if you have debts. Clear those first, then start. Then you can say that's your money!

    Original Poster

    numptyj



    and before anyone asks.... not a BG1 thread!

    dont have any savings anymore spent the last of it on a nice holiday couple years ago and paid off my credit cards and bought everything for when my daughter was born.
    but i only have a tiny amount of debt so i balances it out i spose

    I have 3k in my savings, it goes between 3 and 4 depending on what I have happening that month, but its been as high as 5k, I also have an ISA so have used this years allowance, and my little girl has 5.5k in her's because I cant put it anywhere else due to ISA allowances. I am due about 4k shortly from sharesaves at work, dunno where to put them !!! not that I think an ISA is worth much right now, I think I got paid £80 or something ridiculous this year in interest, the year before that I made at least 2 times the interest on half the amount of cash.

    Its a fair bit all in when I think about it, but I got in to really bad debt when I was younger and vowed never to do that again, and I hope by saving I am showing my kids that it really should be done. They have cash that goes in monthly to a current account for them, and money goes in to shares for them every month too.

    Its all for the "rainy day" thing, I dont want to leave them with nothing if anything does go wrong. In saying that though, I have not gotten a pension sorted yet, that really needs to get on my to do list.

    If anyone has any realistic ideas about where I could put the rest of my cash, different account types etc I would be grateful of the advice.
    Edited by: "Skyebee" 24th Jan 2011

    Generally current account fluctuates from £500 up to £2000 depending on when payments go in or out. I like to have at least a little in there for any extras throughout the month.

    Any on top of that goes into savings, although my ISA is full, so it's sitting in an online account now waiting until April

    Original Poster

    Skyebee

    I have 3k in my savings, it goes between 3 and 4 depending on what I have … I have 3k in my savings, it goes between 3 and 4 depending on what I have happening that month, but its been as high as 5k, I also have an ISA so have used this years allowance, and my little girl has 5.5k in her's because I cant put it anywhere else due to ISA allowances. I am due about 4k shortly from sharesaves at work, dunno where to put them !!! not that I think an ISA is worth much right now, I think I got paid £80 or something ridiculous this year in interest, the year before that I made 2 times the interest on half the amount of cash.Its a fair bit all in when I think about it, but I got in to really bad debt when I was younger and vowed never to do that again, and I hope by saving I am showing my kids that it really should be done. They have cash that goes in monthly to a current account for them, and money goes in to shares for them every month too.Its all for the "rainy day" thing, I dont want to leave them with nothing if anything does go wrong. In saying that though, I have not gotten a pension sorted yet, that really needs to get on my to do list.If anyone has any realistic ideas about where I could put the rest of my cash, different account types etc I would be grateful of the advice.



    Have you tried Money Supermarket for advice and comparisons on all different types of accounts?

    Have you tried Money Supermarket for advice and comparisons on all … Have you tried Money Supermarket for advice and comparisons on all different types of accounts?



    Nah, I really should I know, but my money just sits in the bank and gets forgotten about until it comes to the time when I can move it in to my ISA. My bank try and tell me what to do with it, but they just want me to keep it with them and give me barely any interest.

    I reckon I need to make a concerted effort to get it sorted, I dont want it working for the bank when it could be working harder for me......

    Banned

    Miss Money Penny



    Do you have to sell the house?

    Maybe you should rent it out and make a tidy profit.

    Original Poster

    DLM

    Do you have to sell the house?Maybe you should rent it out and make a … Do you have to sell the house?Maybe you should rent it out and make a tidy profit.



    I don't want to sell it.. market isnt great but the property is with my Ex, so for my sanity and the sake of us being able to move on with no ties... then i'm afraid I have no choice
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