watchesandwhisky

Some amazing ideas here, thank you everyone! I would say this is a new path for me now - I want to get some basic experience with this job and then maybe in time do my Category C license. My pension is I pay £50 a month and company tops it up buy a further £30 - I am going to keep that up as I am 38 soon and have no pension provision at all, it wont be much but better than nothing!

It has been said doing that is a very easy way to et a cheap interest free payday loan! I read somewhere about people that do this (idiots!) is strange they have alot of feedback but thats easy to get if buying a lot of stuff.

I have a new job, (first time I have had a fixed income in years) and I am able to save about 15k a year. I have no house/ no mortgage - and at 37 years old me and my partner are STILL living with my parents - I am pretty ashamed to admit that but its the truth. I am determined to get out ASAP but realistically its going to take a few years maybe more... We don't want to get trapped in the rental trap. and end up with no property to rely on when we need to retire. I could move out next week and pay rent but then what am i going to do when I am to old to work? will be screwed. The long suffering parents are great about it and can see what we are trying to do, very supportive - but I think I need to get out within a couple of years for thier sake so they can have a well earnt retirement , I think I will just go into rented if I cant get a mortgage like everyone else has too. I have circa 15K in savings spread across multiple assets (no cash) - plus a 2020 car fully paid (sensible car - honda jazz) We have opened lifetime ISAs and can get a 20% topup on anything we deposit, however can only be used to buy first house or for retirement or there is a 25% penalty on withdrawals. Money in the bank seems useless, but if house prices keep increasing we may never get accepted for a mortgage. If you was in my situation how would you allocate savings? I dont want to speculate on crypto - I already have some. Im thinking shove everything on premium bonds till the end of the tax year, then withdraw and max out Lifetime ISA and hope for a correction in property prices one day but I really dont know. Open too all suggestions!