Separated, how can I maximise my tiny deposit?

[prl]

Hi all, Im a bit embarrassed to ask this as I used to rely on my ex partner for all financial help. I only have about £6k after the sale of our house last year. I should have put the money straight into a savings account but I nose dived into an intensive postgrad and now it's 6 months later. Every time I look at options I get completely overwhelmed with different ISAs. Im not sure whether to split the money and put it in different accounts, or just put it in one, whether it should be fixed term or not. Im not able to save now Im renting alone with all the bills I have to pay as a single person. I have no family so this money really is all I have. Any help would be appreciated. Thanks

Hi OP, where is best to put it will totally depend on what your plans are for that money, if you intend to dip into it in the near future etc as some savings accounts will have conditions to say once the money is in the account it can’t be withdrawn for a certain amount of time.

Sorry, I should have said I want to use it for a deposit. I want to lock it away but maybe leave 1k aside for emergencies

In your situation, as single person relying entirely on your own resources, I would focus purely on maintaining your financial stability whilst you complete your studies.
Do you receive an income at present? If not then don’t worry about ISAs as you are unlikely to breach your tax threshold.

Find a high interest easy access savings account and park your money there. Put a note in your diary for every 3 or 6 months to check the rates and move it if you find a better one.

Once you’ve completed your studies, established a steady income, paid off any debts, and have some excess to save, then plan your financial strategies to build your wealth over the longer term. For now you just need ready available savings for any unforeseen circumstances that might blow you off course.

This site is great for best savings deals - currently highest is Post Office Online Saver issue 72 , is paying 5.06% which includes a 12 month bonus.

https://savingschampion.co.uk/best-buys/personal/easy-access-accounts

I do have a steady income til Feb as it's a workbased qual. I think if I was smart I could save £100 a month. I've just been hesitant incase something goes wrong, paying bills solo is a big shock to me but I can do it.

I have a santander current account and also have an easy access savings account which pays 5.08%

I can move money between accounts without penalty as often as i want to.

I also have a trading 2-1-2 stocks and shares ISA.

Instead of using my money to play with stocks and shares I just get a fixed rate of 5.2% interest (paid to the balance daily) (Until recently I didn't realise I could use my ISA stocks and shares to be a cash account without actually investing in stocks and shares but you can and the interest is higher than other cash ISAs ive seen recently)
Pretty sure I have instant access to the £ if required, or can at least make a few withdrawels fee free per year.

I also have a high inteserest savings account with nationwide which I think pays 6.5%, but I can only put a maximum of £200 pcm into this account. Stills its a decent rate for a regular savings account.

I have a google calender reminder set up on the 1st of each month to remind me to transfer £200 in to this, which is my highest interest account