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

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(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..

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  • tommysaver
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    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
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    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
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    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.
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