We are lucky enough to have 6 months expenses stashed away if horror strikes, and both work FT and have two smalls with peak nursery/childcare fees. Joint household income is £120k and we live in a fairly pricey area/mortgage etc. after lurking on here a fair bit I did a scout of my savings and have worked out that it appears to be spread across a few different areas.
Wondering if financially wise mumsnetters can advice whether - if the overall amount cannot go up anymore - this spread of things can or should be tweaked?
We are both total misers and won’t spend on haircuts, new clothes or anything else really and I am a genius with the famous Mumsnet chicken etc :)
(FYI the goal - if everyone stays well and no jobs lost - is to upsize in 5 years so obviously trying to get as much money for higher end deposit as possible)
I’ve looked through savings are currently appear to be doing this monthly -
NSI Premium bonds - £200 (because I like the win possibility)
Vanguard LifeStrategy 80 - £75 (bcos don’t want to take high risks with more than this amount)
Employer pension (£536 a month and employer pays twice that to Match)
Mortgage overpayment on 3.5% interest Part 2 of multi part mortgage: £250 a month
Kids Junior Stocks and Shares ISA: £50
Cryptocurrency thingy on the side £20 a month on Coinbase that buys a combo of crypto.
We are lucky for me to afford this and we can’t increase the overall. But should I spread this out a different way given goals? I should note I’m not knwoledgewbale about stocks and shares and wouldn’t dream of thinking myself savvy or capable of making complex decisions on investments….
And I fully realise how lucky we are to be able to save at all and how randomly things could change if there’s a critical illness etc.
Thanks for any help.
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Is this a wise spread of savings/investments
11 replies
IlFaitBeau · 13/03/2022 13:04
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