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Starting to Save!!!!
GF54CUR
Posts: 2 Newbie
Having managed our way successfully out of debt over the last few years, we are now in the position to think about savings and investments. We can comfortably afford to save a few hundred pounds each month. Where is the best place to do this? What would also be best savings Vs investment.
Putting money away... whats the best option? 15 votes
Savings Account (ISA etc)
40%
6 votes
Investment (shares / property etc)
46%
7 votes
Premium Bonds
13%
2 votes
0
Comments
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Start with a cash emergency pot using a 5% regular saver with easy access such as Nationwide.0
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Investment (shares / property etc)The poll maybe isn't the best set of options. You have ISA as savings yet the only ISA really worth having in my view is an investment one. Stock market investments and property don't really come under the same heading if you are starting with a few hundred pounds.
As above it's definitely worth using regular savers to build up your cash emergency funds before starting to look at other options which might also include pensionRemember the saying: if it looks too good to be true it almost certainly is.0 -
What are your pension arrangementsNo.79 save £12k in 2020. Total end May £11610
Annual target £240000 -
Spread your money. Emergency pot, longer term savings pot (for big ticket items) and pension. If you have a mortgage overpay a little too. The less you borrow the less interest you'll pay.0
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Establish an emerging savings pot (circa 3 months of expenditure, up to you though) and then save money in accounts here: https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/"If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)0 -
Between my wife and I we put 20% of our monthly salary in to our pension pot. We are both in education so this is a government backed scheme.0
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