Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • Massy
    • By Massy 8th Jul 18, 9:28 PM
    • 13Posts
    • 0Thanks
    What do to with 30k savings 30 years old?
    • #1
    • 8th Jul 18, 9:28 PM
    What do to with 30k savings 30 years old? 8th Jul 18 at 9:28 PM
    Evening All,

    Just so you have some background on me... i am 30, have my own mortgage and I am pretty awful with my money. Not in the sense that i spend is on pointless stuff, i just get paid and that's it. Whatever i don't use just stays in my current account. I hardly have time for any social activities outside work unfortunately. I work in the IT industry and have the kind of job where my phone starts ringing at 7am and stops around 9pm. Its probably really unhealthy for me to work like this but that's another subject for another day.

    I have been on the housing ladder for 2 years now and happy where i am / with my mortgage, its just a 250k mortgage - repayments are pretty low hence saving the 30k in a couple of years.

    So now i have around 30k sitting in my current account and i just think there must be something i can do with that and make it work for me?

    Can anyone here give me some advice or point me in the right direction of what i should do?

    It looked at a savings account with my current bank (Barlcays) but it just doesn't seem worth the hassle for the rate you get? or is that a bad attitude for me to have?
Page 2
    • steampowered
    • By steampowered 10th Jul 18, 3:09 PM
    • 3,035 Posts
    • 3,021 Thanks
    Reed_Richards makes a good point that most people can't be bothered to set up multiple accounts and direct debits, changing them every 2 years or so, to get the best rate.

    As the Op said he is awful with money, I think a standing order into a stocks & shares ISA is the best way to go. The Op can literally just set that up, forget about it and he would expect to get a good return.
    • Paul_DNAP
    • By Paul_DNAP 10th Jul 18, 3:28 PM
    • 348 Posts
    • 410 Thanks
    If you are not spending all your take-home pay then perhaps look into if you are able to put more into your pension pot from your salary, as a long term investment. You'll get the income tax relief on the contributions (although you'll pay when you draw it down), you might even get more employer's contributions (free money) if you've not maxed them out already.
    (Although I could be wrong, I often am.)
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,805Posts Today

5,040Users online

Martin's Twitter
  • Right back to self imposed twitter exile until Thur - trying to be off work (not v successfully)

  • Too painful to talk about. That result really was offsensive. For rancid cheese & onion to beat powerful salt & v?

  • If you think this hypothetical's bad, here's some of my past polls - Which past PM would u resurrect to aid politi?

  • Follow Martin