10k - should I pay off the mortgage or invest in a pension?

[zookeeper]

Hi . I'm a single mum with three dcs aged 47 working p/t and on working tax credits. My only asset is my house worth 190k with a 10k mortgage. I have 10k savings and no debts and also a 4k float for emergencies/redundancies which I try not to touch.

I don't know whether to use the 10k to pay off my mortgage or invest it into a pension. Has anyone got any thoughts on this please?

[Bithurt]

If it was me, I'd pay off the mortgage and then put some of money that I'd have been paying into the mortgage away every month.

[zookeeper]

Bump

[DisAstrophe]

4k is not an awful lot of money - if you lost your job or the boiler went then you'd burn through it pretty quick. I'd use 4 or 5 k to pay off mortgage and put the rest into an isa so any interest is tax free.
Do you have a work pension?

[Moominmammacat]

Don't put it in a pension. Pay off mortgage or have fun. Isas better than pensions.

[deepfriedsage]

She is on tax credits, can she have that many savings when claiming benefits?

Pay off the mortgage OP.

[funnyperson]

Pay off the mortgage then you and the dc will always have a roof over your heads

[Talkinpeace]

mortgage and cash ISA. NOT pension