🗳️ ELECTION 2024: THE MSE LEADERS' DEBATE Got a burning question you want us to ask the party leaders ahead of the general election? Submit your suggestions via this form or post them on our dedicated Forum board where you can see and upvote other users' questions. Please note that the Forum's rules on avoiding general political discussion still apply across all boards.

&k in cash from house sale and able to save 1k a month , what should i do to ?

(title should say 7k in cash, sorry!)

I have just sold a house I owned with my ex , its a massive financial weight off my back and I'm not looking to go back to that for a while! however, now that I have my financial freedom I'm just not sure what to do next

I am currently employed, 7k in cash from the sale, able to save around 1k a month, I'm single, living at home with my parents, I'm happy where I am for now. but wanted some ideas on what may be my best plan from here..


  • tommysaver
    Also interested... similar scenario except I haven't moved out and have been saving for a good while so have a larger amount. Still no idea what to do with it though.

    Las Vegas and cars become more inviting than current house prices...
  • xylophone
    xylophone Posts: 44,642 Forumite
    Name Dropper First Anniversary First Post
    You could open a Nationwide Flexdirect current account (which gives you access to the Flex regular saver) and a couple of Tesco current accounts.
    It could be wise to open the Tesco accounts asap.

    You can deposit £2500 in NWFD current and £2250 in each Tesco.

    You can transfer £1000 into NWFD monthly and deposit £500 monthly into the regular saver - fill up the Tesco accounts to the maximum.

    Then open a BOS current account or three.....if you needs DDs, consider Tesco savings accounts....
  • armchaireconomist
    Personally, i'd use time at parents to scrimp and save as much as possible. With no "bills" as such a £1000 a month saving now will impact you as much as say £200 when you get back to home ownership.
This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 8 Election 2024: The MSE Leaders' Debate
  • 343.9K Banking & Borrowing
  • 250.3K Reduce Debt & Boost Income
  • 450K Spending & Discounts
  • 236K Work, Benefits & Business
  • 609.2K Mortgages, Homes & Bills
  • 173.4K Life & Family
  • 248.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards