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  • FIRST POST
    • Bobby Applejuice
    • By Bobby Applejuice 13th Mar 18, 1:03 PM
    • 11Posts
    • 2Thanks
    Bobby Applejuice
    Big chunk of cash - where to spread it around?
    • #1
    • 13th Mar 18, 1:03 PM
    Big chunk of cash - where to spread it around? 13th Mar 18 at 1:03 PM
    I have a chunk of money from selling my flat and currently not sure what i will do with it moving forward. I'm currently living with my Mum and Dad and i'm out of work. I'm on the hunt for a job but as it stands not paying rent and dipping into what i have in the bank to keep me going.

    My total is £168k. Going to take £2k out for living expenses while i find a job. When i get a job i may either stay living here a little longer, rent a place and pay for it out of my salary or consider investing my money in a property. Until then i just wondered where you guys would recommend i spread the cash to make best use of the amount and gain as much interest/benefits?

    I've considered ISAs for some of it (could do one right now then another come April), but not sure they're worth it these days.

    Note: I did have an extra £50k on top of the above but invested in premium bonds. Feeling lucky i guess ha, but at least i know it's safely placed.

    Thank you
Page 1
    • theinbetweener007
    • By theinbetweener007 13th Mar 18, 8:40 PM
    • 17 Posts
    • 16 Thanks
    theinbetweener007
    • #2
    • 13th Mar 18, 8:40 PM
    • #2
    • 13th Mar 18, 8:40 PM
    I am in a similar situation.

    I have maxed premium bond, maxed ISA and just put rest into a savings account at 0.5% (pittance I know but at least itís something). Id personally prefer to have access to my cash until I have a stable job and ive found my next property.
    • forextc
    • By forextc 13th Mar 18, 10:13 PM
    • 62 Posts
    • 23 Thanks
    forextc
    • #3
    • 13th Mar 18, 10:13 PM
    • #3
    • 13th Mar 18, 10:13 PM
    It seems you might have some time on your hands for the foreseeable so you might want to take a look at setting up some current accounts. These tend to pay good rates on limited amounts of money so there is a bit of work in setting them up and working out how to meet their requirements.
    The benefit is that you can vastly increase the returns you can earn over most account on the maket.

    Take a look at Nationwide, TSB, Tesco - these are just a few and you can also pickup some opening bonuses and access to regular savings accounts if you use this route.

    Other than that check out the best buy lists on the main site for best ISA rates and fixed term savings accounts. You can often earn more in standard savings accounts than you can in ISAs (even once you have paid tax) so that is one to ponder. The first £1000 interest you earn as a standard rate taxpayer is tax free.

    If you want to put some money away longer term then there is of course a stocks and shares ISA. You can drip feed into this or put in a lump sum. You probably only want to do this with any money that you can reasonably put away for a minimum of 5-10 years though.
    • capital0ne
    • By capital0ne 13th Mar 18, 11:07 PM
    • 474 Posts
    • 236 Thanks
    capital0ne
    • #4
    • 13th Mar 18, 11:07 PM
    • #4
    • 13th Mar 18, 11:07 PM
    If you can't be bothered to do a bit of work setting up a few accounts and direct debits then just put the lot into NS&I Income Bonds
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