What to do with new additional income

[SwanShaped]

I’m hoping to start work soon after nearly 6 years off for kids. It will be part time and I’ll earn about £10k a year to start with. What would you do with the extra income? I’m hoping to save a lot of it seeing as we’ve got used to living on one income. Should I: save, overpay mortgage, put in pension? We have about £5k worth of savings and no debt except student loan and mortgage. Some of it will go on things like buying myself some new clothes, fun stuff now lockdown is easing, additional childcare. But the rest??

@SwanShaped A lot of people on the various UK money forums and facebook groups have the cash portion of their emergency fund in premium bonds, as it's three days notice to withdrawn. Apparently, £10k is a good amount to occasionally win something (Martin Lewis says you might get £75 a year) and there is the dream of winning something big! www.moneysavingexpert.com/savings/premium-bonds/ Certainly something to consider if you can put it in as a lump sum. (That's my long term plan, mine is nowhere near £10k and currently in a cautious fund in my ISA which got 3% last year)

Thanks wombat. I’ll add premium bonds to my research list I’ve started