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Best thing to do with £10k
boyse7en
Posts: 883 Forumite
I have sold off a bit land that I own to a neighbor, but I'm not sure what to do with the proceeds (a little voice in my head says get a big telly, a PS3 and a new motorbike, but I'm ignoring him:))
So, £10,000 will soon be winging its way into my bank account, where should I put it? I've got a Scot Widows Cash ISA paying 3.1%, can put about £2000 in now, then have to wait 'til April.
My mortgage is a BoE +0.9 Tracker, so 2.4%.
Pay off a bit of the mortgage, put into an ISA, put half into a FTSE tracker fund, a really good holiday?
So, £10,000 will soon be winging its way into my bank account, where should I put it? I've got a Scot Widows Cash ISA paying 3.1%, can put about £2000 in now, then have to wait 'til April.
My mortgage is a BoE +0.9 Tracker, so 2.4%.
Pay off a bit of the mortgage, put into an ISA, put half into a FTSE tracker fund, a really good holiday?
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Comments
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Firstly, you can get a 37" telly for £299 and a playstation 3 can't be much more... why not!!!
Secondly, your ISA idea is definitely a good one in my opinion.
Then I'd read Martin's article about saving vs. paying off the mortgage.
http://www.moneysavingexpert.com/mortgages/mortgages-vs-savingsYou're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0 -
spend it - your country needs you :-)0
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Give it to me. I need it
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I am selling my Tuono, it is as new with 1,200 miles with full Aprilia service history. It was first registered in the UK March 2008 and has 12 months Aprilia warranty remaining. It the 139bhp model. Yours for £4500 / 4,500€
"A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
You could buy one of these bad boys > http://www.eclipsecomputers.com/product.aspx?code=PLP-TH65PZ800&af=50"A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
I would save half the money into an ICA, buy a TV and PS3, and put approx £4k into the mortgage0
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I wouldn't pay off the mortgage.
I'd look to when you're due to come off that rate and get a fixed one.
In the mean time I'd save all of it for just in case.
Can you afford the mortgage if rates are at 6% in year or so ?0
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