Where shall I put this money?

EmHeath

Hey - i'm hoping for some advice on where I should put £7,000 - £9,000 that I currently have in my current account.

- ISA - have such low rates (best is 1.5%) that seems like a silly option
- Pay off Student Loan, also have low interest rates so not a bad debt to have, but do have to contribute almost £300 a month out of my pay packet
- Add to my pension and then hopefully claim back the tax on it?
- Add to my mortgage (doesn't seem to be any penalty if under 10%, which it will be), and then reduce the interest rate on that (very slightly!)

Any tips on which of the above makes most sense, or if there are other ideas!

Thanks in advance
Emily

atush

if that 7-9 K is your only savings you can put it all anywhere. You need an emergency cash find of 3-6 months spending (in your case as you own a house 6).

So set aside that money. Best rates at the moment are in current accounts.

How much spare do you have to save each month? How much as a % of salary do you and your employer put into your pension? What rate is your mtg? Your LTV?

Age? Spouse? Dependents? Any upcoming spending plans such as car, holiday, home maintenance?