Savings are 17k after buying house - what next?

WelshGlyndwr

I have 17k in savings after buying a house. What should my savings strategy be. How much will i need to build up to ensure i can buffer myself against any circumstances?

george4064

You've asked a very broad question and without explaining your circumstances, probably best to start with thinking about your circumstances overall and how best to position your finances (savings and debt) with your circumstances and objectives in mind.

WelshGlyndwr

I have bought my first property. My mortg is approximately 190k (with partner). I have 17k in savings (personal,partner 8k) I need to do £1000 of repairs to the new propety. I have no other debts. My net monthly income is 1800 and mortgage of 750 (split with partner). Is 17k enough of a buffer? do i need a strict goal?

Alistair31

Only you can decide how much of a “buffer” you should hold. Personally, I keep 6 months of monthly expenses easily accessible.