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  • FIRST POST
    • Outsider_83
    • By Outsider_83 3rd Jan 18, 2:36 PM
    • 163Posts
    • 21Thanks
    Outsider_83
    Sister's Finances
    • #1
    • 3rd Jan 18, 2:36 PM
    Sister's Finances 3rd Jan 18 at 2:36 PM
    My sister asked for a little financial help and I wasn't really sure what to advise so I mentioned I would post something on here to get a more expert opinion.

    She is 32, single and works full time with her own house.

    Pension Pot - 29,000.

    6000 - Two Regular Savers paying 5% (First Direct and Nationwide) - Drip feeds 800 per month into these.

    100 - Peer to peer lending


    2000 - in current account with Nationwide earning 5% which is coming to an end soon.


    Outgoings


    440 Mortgage at 5%, allows 10% overpayments. Early exit fee is 5% of balance but renewal is in February 2019. Outstanding balance is 41000 property valued at 120k and bought for a similar price.


    1200 student loan pays 75 per month from salary.


    3000 Parent Loan Pays 300 per month back.


    600 pm general outgoings including food, insurance (car/house), house tax and socializing etc.

    My sister wants to become more secure and use he money better (Salary is currently at 1800 per month net).

    Any recommendations?
Page 2
    • aliby21
    • By aliby21 6th Jan 18, 4:13 PM
    • 184 Posts
    • 116 Thanks
    aliby21
    I can't make your figures add up. I get your sister's monthly outgoings to be 1415pm, on a salary of 1800 that doesn't leave enough for her to also be saving 800pm
    • TheShape
    • By TheShape 6th Jan 18, 4:56 PM
    • 1,293 Posts
    • 1,103 Thanks
    TheShape
    I can't make your figures add up. I get your sister's monthly outgoings to be 1415pm, on a salary of 1800 that doesn't leave enough for her to also be saving 800pm
    Originally posted by aliby21
    I expect that the 800 pm being saved/payed into the regular savers is made up from partly from income and partly from current savings.
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