I currently have around £33K split into various accounts, as shown below. This asset allocation is the result of my own research, goal-setting and financial planning.
My full asset table looks like this:
| ASSET | VALUE |
| Marcus Savings | £6,507 |
| Vanguard ISA | £17,139 |
| Club Lloyds Current Account | £5,800 |
| Barclays Current Account | £1,200 |
| RCI Bank Savings Account | £2,038 |
| CrowdProperty | £3,261 |
| Premium Bonds (NEW) | £20,400 |
| BitCoin (NEW) | £83 |
| TOTAL | £56,428 |
I should add that all this money does not technically belong to me – I will have an income tax/national insurance bill of around £20K (stored in Premium Bonds) and my current accounts go up and down like a merry man’s backside so my actual NET Worth is £31,842 as shown in the table below:
| ASSET | VALUE |
| Club Lloyds Current Account | £5,000 |
| Marcus Savings | £6,507 |
| RCI Bank Savings Account | £2,038 |
| Club Lloyds Monthly Saver | £0 |
| CrowdProperty | £3,261 |
| Vanguard ISA | £17,139 |
| BitCoin (NEW) | £83 |
| TOTAL | £34,028 |
My money is split between three main asset classes; Current Accounts, Savings Accounts and Investments.
Current Accounts
I use my Current Accounts for my day-to-day cash or to gain access to various perks and bonuses.
I have a Club Lloyds Account, which I use for my personal banking, bills etc. It pays a respectable 1% interest, gives me an annual membership to the Gourmet Society (discounts when eating out) and provides eligibility to open a Club Lloyds Monthly Saver.
I use a Barclays Current Account for my business income and expenditure. This account costs £4 per month but pays cash rewards of £12 per month resulting in a profit of £8 per month.
UPDATE 2021: I no longer use this account. Finally, I have a First Direct Current Account. I don’t really use this for day-to-day banking but keep it open with the minimum of £1000 so that I have access to open a First Direct Regular Saver.
Savings Accounts
My Savings Accounts are used to earn slightly more interest on my money, whilst still keeping my capital relatively risk-free.
Some of my cash savings are currently stored in my Marcus Savings Account. This has a reasonable interest rate and is instant access so I can withdraw it when I need to.
UPDATE 2021 – I no longer use this account. I have a Club Lloyds Monthly Saver, which pays interest at a rate of 2.5% but only allows a maximum of £400 to be paid into it per month. This is fixed for one year.
UPDATE 2021 – I no longer use this account. Similarly, my First Direct Regular Saver pays 2.75% in interest and a maximum of £300 can be paid into it per month.
I also have an RCI Bank 5-year fixed-term savings account paying 1.9% interest. Money cannot be withdrawn from this until the full 5 years are up. I chose a long-term fixed-rate account to hedge against the possibility of interest rates going down (which they did).
Investments
My investments put increased risk on my capital (I could lose some or all of the value of my capital) but are balanced by the chance of higher rewards.
I have a stocks and shares ISA with Vanguard. Vanguard offer various mutual funds and index trackers that are basically large holdings of stocks and bonds. The current value of my holding is around £7,180 from an investment of £5,765 since March (8 months ago).
I have also allocated £3000 to be spent on even riskier investments, although I haven’t actually taken the plunge with this yet – the money is being held in my Marcus account until I am ready to use it. I may use this for peer-to-peer lending, day trading, mini-bonds or even gambling!
I invested the £3,000 above in an IFISA with CrowdProperty. They raise money for property development that is funded by individuals. I currently have small stakes in over 20 building projects, yielding an average of 8% interest.