Where do you invest money?

[Cloudsurfing]

We’ve never been in a position to invest money before as we’ve always been saving for something. We’re about to buy a new house (with mortgage) and will still have reasonable savings left over. We will be able to save £600ish a month going forwards but as interest is so low at the moment we are wondering what to do with it. Should we put it straight into mortgage overpayments, or do something else with it, or maybe split across some places? What do you do with yours?

Premium bonds

Stocks and shares ISA
Marcus bank is offering 0.5% interest on savings
Not premium bonds - have a read of moneysavingexpert as to why not!

Premium Bonds are fun and I have some money in them, but I do worry about inflation eroding my savings in the long run. I think Premium Bonds are good to keep your emergency fund in.

Long term savings are with vanguard and short term are in Premium Bonds. The vanguard savings are volatile but I hold them for decades so they are worth the risk. Premium bonds cover things like Christmas, birthdays, white goods replacement etc.

Thanks! So keeping emergency money I. Premium bonds could be a good idea? Are premium bonds instant access for money then?

@Cloudsurfing

Thanks! So keeping emergency money I. Premium bonds could be a good idea? Are premium bonds instant access for money then?

Online withdrawals can take 3 working days to be credited to your bank account.

For savings I have a combination of the following:
Premium bonds
Trackers: uk, European, US and Pacific
Fixed rate bonds
Instant access

Pension. You get 20% or 40% back on your contributions so u less you’re already making this out, it’s definitely worth considering.

I usually save a similar amount per month, around the £500 mark. I split this between premium bonds (for holding emergency fund/quick access savings for home improvements, Christmas etc), mortgage overpayments, stocks and shares ISA and children's savings. The exact amounts I attribute to each change, I tend to see what I have left at the end of the month/what I've got coming up and split up payments that way but always make sure each "pot" gets something

@VerityAn has a point about pension though, if you've got a decent amount extra each month it may be worth setting up an additional payment "AVC" on your pension. I pay in an AVC of 5% (on top of my standard 5% employee contribution) and I haven't missed the extra cash.

I would not invest £600 pm in premium bonds.
ISA if you need some access, pension if you don't have one and don't need to access the cash.

Regular Saver with HSBC. £250 a month each (me and DH) and will get 1% at the end of the year. Then my plan is to put it in premium bonds.

Work Pension
Private pension
Stocks and Shares Isa
Premium Bonds
Instant access saving account
a small amont monthly on Freetrade

amount (unsure why we can't edit...)

Don't invest in stocks and shares for anything you'd need in less than 5 years, and either educate yourself about investing or go through a financial planner (who will charge you for advice, but bear in mind you can remove them as an advisor once you've made the investments and just pay for advice again when you need it).
For emergency fund, it has to be a cash ISA or stocks and shares.
I agree with what others say about pensions, but then you're locking money away for a long time, so think about how much to put in. You won't regret paying as much as possible into something like an AVC though in my experience.

Sorry, I meant emergency fund - cash ISA or Premium Bonds, not stocks and shares.