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Redundancy Pay Easy Access Investment
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Posts: 25 Forumite
Hi
I've just been made redundant. The company car will have to go back so plan to spend around 6k on a car. Aside from that I will earmark some money to keep me going for the next 2-3 months (hopefully I can get another job in that time) and that will leave around 30k to keep safe.
Want to put the rest of the money somewhere where it will earn something but that I can get my hands on it if needed - if I don't get another job then will have to live off it and if I do then I will look to pay a sum off my mortgage to shorten its long term.
Interest rates on savings look really poor (I have already used up this years isa allowance) and I'm too risk averse to consider stocks and shares. I was thinking of putting it into premium bonds - ok, no interest but there's a chance of winning a bit and can cash them back in reasonably quickly. Any other ideas?
I've just been made redundant. The company car will have to go back so plan to spend around 6k on a car. Aside from that I will earmark some money to keep me going for the next 2-3 months (hopefully I can get another job in that time) and that will leave around 30k to keep safe.
Want to put the rest of the money somewhere where it will earn something but that I can get my hands on it if needed - if I don't get another job then will have to live off it and if I do then I will look to pay a sum off my mortgage to shorten its long term.
Interest rates on savings look really poor (I have already used up this years isa allowance) and I'm too risk averse to consider stocks and shares. I was thinking of putting it into premium bonds - ok, no interest but there's a chance of winning a bit and can cash them back in reasonably quickly. Any other ideas?
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