I am being gifted £45,000 and am trying to decide what best to do with this.
Facts are:
- At uni building up significant student loan for another four years (mature student)
- Student loan will not cover full living expenses, so far have worked, but this may not be possible throughout, so need buffer accessible
- No other debt, incl. credit cards
- £20,000 in existing savings being transferred amongst debit and savings accounts and as of its introduction also into Help-to-Buy ISA
- Renting and as student no chance of getting a mortgage
- Really want to buy as soon as I finish and am again in position to get a mortgage and hopefully start a family
Would you just keep it in regular savings account? Premium bonds? Or what?
(Name changed)