What to do with the money...

[Ajax123]

I am lucky enough to have a modest sum of money coming to me from a matured endowment late this month. It is not a life changing sum but is significantly more than I have had at any one time before.

Anyway... I am now in the situation of trying to decide what to do with it apart from the two week cruise I've booked to celebrate my 25th wedding anniversary...

i could put it into some sort of isa but I have looked around and the interest rates are rubbish... Almost not worth waiting for but at least it would earn something. It would however be tied up for a long time

I could put it in the bank and access it any time but earn even less interest

i could put it into stocks and shares but know nothing about this so worry about losing it all.

i could put it into premium bonds and possibly earn nothing and possibly win the jackpot...

anyway. I was interested in your thoughts... What would you do if it were your dosh.... ??

 

[White Room]

Santander 123 account do 3% interest with monies upto £20'000 and cash back on fuel, domestic shopping and gas/electric bills.

 

[Rookery]

First I'd pay off any borrowings such as credit cards and mortgage etc. Then I'd stick the max allowed in an ISA cos its tax free. Then I'd buy a load of Premium bonds cos your moneys safe and you might win a few quid.

 

[Ian]

I'm looking for a sponsor. For £10,000, I will have your name written on my van and work clothes. A good investment :smilewinkgrin: on a serious note, it may well be beneficial to speak to a financial advisor, someone who has no links to the banks as they don't exactly have the best track record in recent years.

 

[judge]

I think ive a little room in my bank account if you want to keep it there for now :lol:

 

[peteablard]

:drool5::drool5::drool5:

 

[John Benton]

My step-sons wife's father, stay with me, bought £5k worth of Premium Bonds and won £8k after only 4 weeks.

I'm guessing that you've been paying more than you should have to pay off your mortgage, hence you actually got some money from an endowment, first person I know of.

If you're looking for long term Alan, bricks and mortar, small terrace, deposit down and and monthly rental income from it.

 

[Ajax123]

First I'd pay off any borrowings such as credit cards and mortgage etc. Then I'd stick the max allowed in an ISA cos its tax free. Then I'd buy a load of Premium bonds cos your moneys safe and you might win a few quid.

I don't have a credit card and my mortgage is at such a low interest rate I am not sure it is worth paying it off in one although I have thought about that too... Mind you the amount would not cover it anyway

 

[Ajax123]

I think ive a little room in my bank account if you want to keep it there for now :lol:

No problem just send me the account number and sort code and of course your PIN number and I will have a look at the idea.. 😉

 

[Ajax123]

My step-sons wife's father, stay with me, bought £5k worth of Premium Bonds and won £8k after only 4 weeks.

I'm guessing that you've been paying more than you should have to pay off your mortgage, hence you actually got some money from an endowment, first person I know of.

If you're looking for long term Alan, bricks and mortar, small terrace, deposit down and and monthly rental income from it.

Yes I've been paying more off the mortgage so that is covered. The bricks and mortar idea would be lovely but there will be no where near that much money left over.... Still thinking premium bonds as the money is safe...