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Savings advice - are we doing the right things?
tommyedinburgh
Posts: 452 Forumite
Between 2007 - 2009 I lost everything, newly started business, money, home, relationship, the lot. Decided to retrain as a Primary School Teacher which has been the best decision, also married again which is an even better decision.
Meeting my future wife at that time was a blessing, we bought a house (in her name solely, as I doubted I could get a mortgage back in 2017), we save regularly and now have some cash reserves, I just want to check that we are doing the right things, so here goes...
We have:
Premium Bonds - £23,025
Santander 123 @1.5% - £9,000
Santander linked saver @3%, £200 per month - £600
Virgin Regular saver @3%, £250 per month - £750
Another Virgin Regular Saver @3%, £250 per month - £250
Virgin E-saver @2.49%, £250 per month - £2,000
Another Virgin E-saver @2.49%, £250 per month - £2,000
Scottish Friendly stocks and shares ISA, £70 per month - £280
That's about £37,905
We are both about to get incremental wage rises which will secure another £400 per month. Is what we are doing ok and what would you recommend for the other £400?
Meeting my future wife at that time was a blessing, we bought a house (in her name solely, as I doubted I could get a mortgage back in 2017), we save regularly and now have some cash reserves, I just want to check that we are doing the right things, so here goes...
We have:
Premium Bonds - £23,025
Santander 123 @1.5% - £9,000
Santander linked saver @3%, £200 per month - £600
Virgin Regular saver @3%, £250 per month - £750
Another Virgin Regular Saver @3%, £250 per month - £250
Virgin E-saver @2.49%, £250 per month - £2,000
Another Virgin E-saver @2.49%, £250 per month - £2,000
Scottish Friendly stocks and shares ISA, £70 per month - £280
That's about £37,905
We are both about to get incremental wage rises which will secure another £400 per month. Is what we are doing ok and what would you recommend for the other £400?
0
Comments
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Are you looking into your pension provision.
You could both open a nationwide flex account and get 5% on 2500 each for 1 year plus access to regular saver, and open 1 single each and 1 joint with TSB and get £4.5k at 5%No.79 save £12k in 2020. Total end May £11610
Annual target £240000 -
'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0
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Put the extra £400pcm into the S&S ISA. Simple. Your overall savings are very cash and bond heavy.: )0
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