We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Savings Investment Help Needed.

jizba
jizba Posts: 174 Forumite
in Savings & investments
I am in the process of sorting my finances and I need some advice as to what I should do next.

My only debt is £6000 of a student loan, my long term ambition is to buy a house.

I have currently £1000 invested in Premium bonds.
£18000 saved with IceSave's regular account.
I am also in the process of transferring £18000 into IceSaves cash ISA, which included this years allowance.

I have about £10000 left, what should I do with this in order to maximise its potential, are more savings accounts the only option or should I be looking at investing?

Regarding my existing savings portfolio, do members of this forum think I am managing my finances well or not?

Thanks.

Comments

  • Lokolo
    Lokolo Posts: 20,861 Forumite
    First Anniversary First Post
    Cash in the premium bonds, they aren't going to get you anything.

    That leaves £18k + £1k for a nice house deposit. Keep it up. Maybe put the money into a better rate? (I am not sure what rate you are getting)
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 345.8K Banking & Borrowing
  • 251K Reduce Debt & Boost Income
  • 450.9K Spending & Discounts
  • 237.8K Work, Benefits & Business
  • 612.6K Mortgages, Homes & Bills
  • 174.3K Life & Family
  • 250.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture