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You have £20K in savings
Options
DemiDee
Posts: 529 Forumite
Would you...
You have £20K in savings, would you... 92 votes
Plough it into an outstanding £30K mortgage?
72%
67 votes
Buy a house below market value and rent it out?
10%
10 votes
Use it to upgrade your own home?
4%
4 votes
Splash out and travel - you only get one life!?
11%
11 votes
0
Comments
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You should have included an option to keep it or move it to a better paying account.0
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put it under the matress0
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freddysmith wrote: »You should have included an option to keep it or move it to a better paying account.
Yes I agree. I wouldn't do any of your options...Being brave is going after your dreams head on0 -
Continue to add to the savings...Had £80,000 in Savings - All GONE!!! BYE BYE:A Single, 27, Aspie, Gooner :A0
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...get on the phone to the bank and wonder where the rest has gone.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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:eek:
Have you been spying? that's pretty much the exact situation i'm in, give or take a couple of quid.
Fortunately work is very busy, so my plan is to overpay like a lunatic (ING tracker at the moment at 2.39%). I can clear the remaining balance in two years, then use my savings to buy another house (ours is a two up/two down terrace so would like a 3/4 bedder). Keep the terrace and rent it out.
Whether this happens or not is a different matter, see you in two years time
Phlik0 -
Personally, I'd get it all in fivers, put it all in the bath and jump in. Just like Scrooge Mcduck (Ducktales) did, only on a slightly smaller scale.0
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Plough it into an outstanding £30K mortgage?Pay 20 grand off your Mortgage0
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Even if the interest on your mortgage is lower than your savings rate? Phlik0
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