Anxiety and indecision about money

[JustCannotDecide]

Hi, I was just wondering if anyone had any advice or may also have felt like this before. I don't really have anyone I can speak to this about in real life so thought I would try here

Me and my husband have saved around £47k. We owe around £48k on our mortgage. It has around 18 months left on a fixed deal (2.14%). We have overpaid the max we can without being charged, and can pay again next July.

The money is mainly all in bank accounts with barely any interest - around 5.5K in a HTB, I have around £400 in a LISA, £1000 in premium bonds, and I have just started saving £100 into a S and S ISA (the FTSE global accumulation fund).

Our house is worth around £210k and we have student loans, but no other debt.

We earn around 4k after tax etc every month, and should be able to save 2.5k every month (though I don't think we're managing to save quite this amount).

We've tried to move twice over the last two years and each time it has fallen through, but house prices have increased so much now, that I feel so worried to about whether to borrow the max and stay in the same area (good schools and family nearby) or move elsewhere, or to stay put in case prices drop.

I just feel so anxious about making decisions, and feel like I'll make the wrong one - is this normal? I just feel as though I'm getting more and more anxious and worried as time goes on

I will preclude this by saying I am not a financial advisor. In a vaguely similar situation, I got rid of the mortgage.

There are calculators on the internet that help you work out if it's worth paying a penalty to pay off the mortgage.

But think about keeping some money back for emergencies or large purchases like cars.

Premium bonds might be as good a place as any for any spare savings that you don't want to tie up or invest.

If you're thinking about moving it may be best to keep a small mortgage and porting it with some additional borrowing.

I think the golden rule is to try to have 3 months of wages in easily accessible accounts so that's £12k. The additional £35k is not huge if you're thinking of moving- legal fees and stamp duty will eat some of that and the rest could be used for home improvements or to reduce the amount you'd need to borrow on the new property.