How to conserve my money over 3 years.

[elster]

I am going to university in October, so I won't be working as much.

My house is rented out, I will be living in a caravan. The costs including depreciation will be £11k over the 3 years. This is for all bills.

The only other things I need to include are mobile phone, food, other expenses.

I will still be earning about £10-15k from part time work, this will also pay for my van, tools, insurance and work costs.

I will also be recieving a grant of £2900. My fees will be £3200, these are also paid.

I have a lump sum of about £40k by the time I start uni. I am wanting to know what will be the best ways to save the money, store the money. Obviously if I lose my tennant I will have to be able to access the money and pay the mortgage temporarily.

All help will be greatfully received.

[Aussies4-Poms 0]

OT - what you studying?

[elster]

Electronic Engineering

[grumbledoak]

Er, this sounds like (assuming lowest figure in the 10k-15k)
£40000 + £2900 + (3x£10000 - <work costs>) - £11000 - <living>?

Unless I've misunderstood, you'll be minted!


ETA- Included work costs, still sounds good...

Edited by grumbledoak on Tuesday 14th July 22:16

[elster]

I would like to come out with some money.

I can't guarantee on the money from work. Therefore the money is store with reasonable interest with not instant access. Ideally I would like to not touch the money and come out the other side with it. My studies will come first though. So when it is needed I can dip into the savings.

[elster]

brokenfather said:

Newcastle Building Society are currently offering 5% pa fixed for 5 years, with withdrawals allowed at 3 months notice.

Easily the best around at the moment.

Thank you.