£26k which savings account to put in

[Eggybreadwithnuts]

So my dilemma or asking for thoughts on this. Ive got £26k coming to me (inheritence). Plus each month DH wants to put his pension cira £1,300 away, as he's still working so want to save/put away.

So we're planning on doing this:

£20k into a 1 year Isa, that will gain interest
The £6k balance, using for home improvements
AND
Monthly pension, savings...just into a savings account prob with bank we use or should we look for one that gives us the highest account???

Noooooooo. It is an awful call. There is too much to type here but you would average a 1% return based on probability of winning a prize. Your money will not keep up with inflation so be worth less than it is today.

I am not a fan but google Martin Lewis premium bonds episode. It is insightful. It should not be your first stop. You can get much better interest rates on cash holdings if you are risk averse, if you don’t mind some risk and don’t need access to the capital for a minimum of five years stocks and shares is like
y the way to go, if you are inexperienced then a passive index fund would work nicely as a starting point until you gain some experience.