Now, rationally, I suspect the answer is "Of course!". But I'm looking for general advice, if my fellow Tildesians would be so kind.

This question has arisen while investigating opening a Monzo account. Apparently, you can lock away some money for 12 months and get 5.3% AER interest on it - meaning for every, say, £1,000 I put in, I get £50 back, right?

My question: is that really worth it, in the grand scheme of things? Even if I put in £10,000, I'd be locking myself out of that much money for a grand total of £500. I understand that's a lot to some people (even me), but it hardly seems worth it.

Perhaps there's something I'm missing. Perhaps some bad maths on my part or some other type of interest that I don't know about. All advice is welcome and appreciated!

For me, saving money has been pretty tough but my goal is to maintain a minimum of 4 months pay in the bank in case of hard times. My fiance started her MBA and we have been fortunate that we can pay for it outright instead of adding on top of our loans. In the past year I have gotten a bit into churning and using the rewards to help partially pay for vacations throughout the year which has helped a bunch.

I'm interested to read about any goals we are working towards and also talk about different savings strategies!