I can save £500 a month - what should I do?

Girlonthemoon

I have recently managed to pay off all of my debts, credit cards etc
I've recently remortgaged and am now on a better deal so can comfortably save about £500 a month.

The question is, what is the best option? An Iceland based high-interest savings account? An ISA? Or should I just stuff all that extra cash back into the mortgage each month?

At the moment I have zero savings, so should I build up a pot of cash to cover unseen emergencies like the boiler breaking down or the wheels falling off my car?

Any advice or recommendations would be very much appreciated!

brownbabygirl

definitely fill up the ISA sack as soon as possible FIRST then high interest savings account!

nrsql

see
http://www.mindsdoor.net/Finance/Savings.html

First e-saver for fast transfer to current account.
Then High interest on-line account - split between at least a couple
Then cash ISA
Then Mortgage/fixed term

When you have enough to last a few months with no income consider investments.