What should I do with savings?

heisenberg

Registered User
Messages
20
Age: 27
Spouse’s/Partner's age: N/A

Annual gross income from employment or profession: €32000

Monthly take-home pay €2200

Type of employment: Private Sector

In general are you:
(b) saving

Rough estimate of value of home N/A
Amount outstanding on your mortgage: N/A
What interest rate are you paying? N/A

Other borrowings – car loans/personal loans etc N/A

Do you pay off your full credit card balance each month? Yes
If not, what is the balance on your credit card?

Savings and investments:

Do you have a pension scheme? No

Do you own any investment or other property? No

Ages of children: N/A

Life insurance: None


What specific question do you have or what issues are of concern to you?

I am currently saving about €500 monthly into a regular savings account. I also have a lump sum of approximately €15000 in various savings accounts. I hope to purchase a house in the future, but that may not be for another 5+ years if I'm lucky. However, I don't know what to do with my savings up until then.

Should I continue to save in fixed term accounts or should I look into investing in shares or other avenues? I feel I could be doing more with my money.

Thanks.
 
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