£100 extra a month - WWYD?

[baizeleaf]

I’m getting a pay rise for something I already do but is now being recognised with a minimum that bonus payment.

What to do with the money?

Split between kids’ accounts
Overpay mortgage
Buy added pension
Open S&S ISA
Let it absorb into general funds and not see the benefit

Pension without a doubt.

Overpay mortgage or get a cleaner

Mortgage

Decent takeaway once a month

Mortgage, without a doubt.

Guilt free cleaner or nice gym membership

Overpay the mortgage. Definitely. Check it out on and mortgage calculator and see how much it will save you.

Pension.
But you don’t say how old you are, or how comfortable you are currently.
But still - most likely pension! Especially as you’re talking about added years so it sounds like a DB pension and likely to be very good value therefore.

The only thing on your list I wouldn’t do, is put into children’s accounts.
In my opinion, children’s savings should be enough to get them interested in savings or be because you’re maximises allowances because you’re pretty wealthy. For most people, save your money for you - you can always give it to children later.

Over pay mortgage or pension.

Either mortgage or pension.

Nothing on the list appeals, I'd enjoy spending on myself.

Pension, then it will turn into £120

Yes sorry more details prob helpful

I’m 35 DH 45. Have £80,000 left on our mortgage on £250,000 house. Kids 2,4,6. My CS pension is DB so adding to it would be AVC.

Half into pension and half on mortgage.

I'd spend it on myself too, although that's based on the fact I already have a reasonable pension so would rather enjoy the money now.

Over pay the mortgage. Look on an overpayment calculator to see how much it will save you.

From your update maybe Lifetime ISA instead.

Overpay your mortgage, once you clear it you're free.

@baizeleaf mortgage mortgage mortgage!
It’s the biggest burden you will ever have and owe, and the gift that keeps in giving with the compound interest.

I would spend it on myself, decent hair cut and colour, new clothes, save for a weekend away.

Third to mortgage, third to pension, rest for general use, or general savings if you can manage on current income

Can’t believe no one has agreed yet with S&S ISA option. Definitely that! You’re young enough that investments made now can grow significantly over the years with compound interest. I am increasingly aware of how few women see investments as part of their personal finance strategy, which is such a shame.

Mortgage.
You'll be surprised how much you can shave off the interest by overpaying.

You’re highly likely to make far more out of a S&S ISA than by overpaying your mortgage on current rates so unless there’s insecure employment or some other strong reason to secure an unmortgaged home, it makes no financial sense to do that.

That would just about cover the gas price hike....so I would probably say general funds