Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • 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
    • 395 Posts
    • 224 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
    • 21,977 Posts
    • 12,679 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
    • 1,341 Posts
    • 1,128 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.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

5,149Posts Today

5,081Users online

Martin's Twitter
  • Byebye! I'm about to stop work & twitter, to instead spend glorious time with Mrs & mini MSE. Wishing u a lovely summer. See u in 10 days.

  • WARNING Did you start Uni in or after 2012? The interest's rising to 6.1%; yet it doesnt work like you think. See RT

  • RT @JanaBeee: @MartinSLewis Boris is the anomaly (coffee), the others are versions of normal (beer). Lots of same candidates = vote share d?

  • Follow Martin