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What should one do?

izools
izools Posts: 7,513 Forumite
1,000 Posts Combo Breaker
in Savings & investments
As the title starts...

...What should one do if one has freed up £125 a month in their budget and hasn't got it allocated to anything particular?
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Comments

  • Aegis
    Aegis Posts: 5,695 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Clear your credit card debts faster. That'll be better than almost any investment you could otherwise make with that money. It's not glamorous, but it's probably the most sensible plan.
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • Wutang_2
    Wutang_2 Posts: 2,513 Forumite
    izools wrote: »
    As the title starts...

    ...What should one do if one has freed up £125 a month in their budget and hasn't got it allocated to anything particular?

    One could blow it on women and drugs.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Jamesb87
    Jamesb87 Posts: 5 Forumite
    You didn't mention you had credit card debts but obvioulsly if you have then clear this. Otherwise look at putting it into a regular saver throught a standing order. I suggest you do this with a different bank to your current account then it makes it harder to get to stops the temptation.
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    Part of the Furniture 1,000 Posts
    Jamesb87 wrote: »
    You didn't mention you had credit card debts but obvioulsly if you have then clear this.

    See the OP's signature.

    Given the interest rates on the OP's credit cards (39.9%!!!) it would be madness not to pay them off ASAP. Forget about saving for the time being.
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • zygurat789
    zygurat789 Posts: 4,263 Forumite
    Part of the Furniture Combo Breaker
    Quote:
    Originally Posted by izools viewpost.gif
    As the title starts...

    ...What should one do if one has freed up £125 a month in their budget and hasn't got it allocated to anything particular?

    Wutang wrote: »
    One could blow it on women and drugs.

    Whatever happened to wine and songs. I must be getting old.
    The only thing that is constant is change.
  • Dave101t
    Dave101t Posts: 4,157 Forumite
    always go for debt free 1st. always.
    Target Savings by end 2009: 20,000
    current savings: 20,500 (target hit yippee!)
    Debts: 8000 (student loan so doesnt count)

    new target savings by Feb 2010: 30,000
  • mr_fishbulb
    mr_fishbulb Posts: 5,224 Forumite
    Part of the Furniture Combo Breaker
    Wutang wrote: »
    One could blow it on women and drugs.
    Or you could waste it.
  • Gymgenius
    Gymgenius Posts: 208 Forumite
    one should definitely clear one's credit cards with any disposable income one may have ;)
  • Wutang_2
    Wutang_2 Posts: 2,513 Forumite
    Gymgenius wrote: »
    one should definitely clear one's credit cards with any disposable income one may have ;)

    I think one is right, although one also should enjoy a portion of ones disposable income - one would suggest complete hedonism and disregarding of ones financial commitments.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Primrose
    Primrose Posts: 10,721 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've been Money Tipped!
    Clear your debts
    Overpay on your mortgage
    Increase your pension fund contributions
    Start up a Cash ISA

    But clear your credit card debts first so that you can start off on the others with a clean slate. If you're managing OK on a lower level of expenditure, you might as well put the surplus cash to something that will benefit you later rather than just wasting it.
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