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SOA - Best way to tackle this?

Taiko · 2020-06-15 17:30:33

Hoping someone wouldn't mind having a look into this for me. Total CC debt is at £20k, and I've gone completely out of character it seems. Until a few years ago, I had plenty savings, used some of that to overpay the mortgage, but then a spell of unemployment hit, and I was out of work for 6 months. In recent months, I've…

Comments

PurpleFairy26 Posts: 3,903 Forumite

17 August 2020 at 6:08AM

I would be focusing on paying debt down now and then think about share save once debt is paid. You can then use any potential profit to either overpay your mortgage in a lump sum or add to your savings. It’s much lower risk.

Could you set yourself a target of being debt free by the time your company do share save next year? They principle of share save will always be that they offer 10 or 20% discount on the share price on day of release so you’ll still get a discount in future years.

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