What to do with £300 p/m

JohnRo

Look at your sig and ask yourself where we're at on that scale though.

I'd say it's still somewhere between pessimism and scepticism given the Euro zone woes and global slow down concerns. This recent rise could just as easily be the start of something quite spectacular and unseen before, as the money printing lunacy driving much of the gains has never been seen before on this scale and the effect of all those counterfeit tickets still mostly held behind the dam wall, hasn't yet burst into the wider economy.

Thrugelmir

JohnRo wrote: »

Look at your sig and ask yourself where we're at on that scale though.

I'd say it's still somewhere between pessimism and scepticism given the Euro zone woes and global slow down concerns. This recent rise could just as easily be the start of something quite spectacular and unseen before, as the money printing lunacy driving much of the gains has never been seen before on this scale and the effect of all those counterfeit tickets still mostly held behind the dam wall, hasn't yet burst into the wider economy.

Broader money supply is contracting. Hence the reason for QE and other liquidity schemes. As fractional reserve banking is in reverse. So no dam to burst. As a new sun rises on the horizon to herald in a new era. What this may hold who knows.

Doshwaster

Hyp3rion wrote: »

Thanks for all of the replies.

I do not have a non-working spouse, everyone in my household works and has a pension.

It looks as though mortgage overpayments comes out on tops. Would just like peace of mind that this is the best option and the money could not be better used elsewhere with a better return than 3.99%.

I'm not sure I'd put all of the £300 into mortgage overpayments as it's money that you can't really get back but you may want to look at £100 to the mortgage and £200 into a S&S ISA.

If you play around with the MSE Overpayment Calculator, it's amazing the difference even £100 a month can make.

Hyp3rion

All,

Thanks for all of the suggestions and replies, very helpful indeed.

I think I am decided on switching my mortgage. First Direct seem to do a decent 2.89% for 2 years then on to their SVR of 3.69% which is lower than my current 3.99%.

From what I will save,that will give me another £1500 over the first two years (after I have taken out the booking fee) on top of the £300 per month I want to invest.

I'm likely to put that £1500 straight back on to the mortgage plus another £200 per month. I will invest the remaining £100 per month in a SAS ISA.

Sounds sensible to me

Hyp

benalder284

Another vote for mortgage overpayment - best thing we ever did was using bonuses and spare cash to pay ours off. It's difficult to put a value on the additional freedom and flexibility this gives you.

Bean123

Thrugelmir wrote: »

This is a guaranteed return. Better to clear debt first. Then risk what you can afford to lose afterwards.

Without disagreeing with what you've said, of course, what about the long-term compound effect of investing? If you leave it later to start an equity based investment, then it doesn't have as long to grow from the original invested amount?