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    • Rhysjc
    • By Rhysjc 19th Mar 17, 3:32 PM
    • 1Posts
    • 0Thanks
    Need advice
    • #1
    • 19th Mar 17, 3:32 PM
    Need advice 19th Mar 17 at 3:32 PM
    Hi all,

    About 6 months ago I was given a large sum (between 20 and 30k) by my mother to eventually use for a house deposit. At 23 I'm not quite at the point where I want to buy a house, so I'd like to put this money to good use and ideally grow it a bit. I'm earning a good salary (>30k) so I'm not worried about needing the money for an emergency.

    Obviously I've read about Help to Buy ISAs, but it seems like it's only worth putting up to £12,000 in one and also I can only put in £200 a month, so it'll take me at least 4 years to get to that point anyway.

    Does anyone have any advice on what I should do with the excess £14,000, and what to do with the money that's destined for the Help to Buy ISA?

Page 1
    • chockydavid1983
    • By chockydavid1983 19th Mar 17, 3:38 PM
    • 520 Posts
    • 308 Thanks
    • #2
    • 19th Mar 17, 3:38 PM
    • #2
    • 19th Mar 17, 3:38 PM
    You say you're not too worried about needing money for an emergency because you had a salary but you should keep enough in savings to cover you in case of losing your job and needing time to find a new one, possibly combined with one or more other unexpected expenses at the same time.
    Once that is covered, the H2B ISA and then lifetime ISA is a no brainer for first time buyers and then it's a case of getting the best current accounts and regular savers as possible:
    • xylophone
    • By xylophone 19th Mar 17, 3:44 PM
    • 23,997 Posts
    • 14,009 Thanks
    • #3
    • 19th Mar 17, 3:44 PM
    • #3
    • 19th Mar 17, 3:44 PM
    • parking_question_chap
    • By parking_question_chap 19th Mar 17, 6:40 PM
    • 1,424 Posts
    • 1,237 Thanks
    • #4
    • 19th Mar 17, 6:40 PM
    • #4
    • 19th Mar 17, 6:40 PM
    Generally every post is a question asking for advice. Common theme is to say in the subject what you are asking for advice on so those in the know will open it.

    I would be inclined to split 75% isa and 25% into shares.
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