Best way to save/invest £20k

SGreen

I'm just finishing building an extension/new kitchen/ new windows and as a result have had most of my spare/saved cash in an easy-access account as I didn't know what extra costs may come out of the above works.

Now we're finished, I've got about £20,000 that I'm looking to put to work. I'll also be saving a regular £1500/month.

Apologies if I've missed the answer on here (I'm sure I have) but what does anyone have any suggestions as to where I put the money?

innovate

what are you planning to do with your money when
how old are you
what rainy-day fund do you have
what pension arrangements do you have
how much of your money can you afford to lose
etc etc etc

xylophone

Have you used your ISA allowances?

SGreen

I'm in my early 30's and also have a "rainy day" fund of about £5k. Nothing owed other than the mortgage.

We haven't used our ISA allowances yet so I did assume that probably should be my first port of call?

Both in company/NHS pensions so they're ok and don't need topping up at the moment.

I'd rather keep it relatively low risk.

xylophone

relatively low risk.

Risk to capital? Risk from inflation?

At present, the interest on savings accounts, (even ISAs), is barely equalling inflation. http://www.thisismoney.co.uk/money/saving/article-1583864/Best-savings-rates-Isas-Cash-Isa-accounts-fixed-rate-Isas.html#axzz2JkjUw1ad

You might each consider a cash ISA and a stocks and shares ISA as a kind of two way bet?

atush

Fill both your cash isas for this year and next. 20K sorted.

Open at least one S&S Isa (you may need 2 this/next year). Going forwards, save your extra cash into that, drip feeding it into funds/shares monthly.