How much should you put aside for emergencies

[NigelFargate]

There is a psychological dimension to this, as with many other things. By nature I am irrationally frugal. Some people find it hard not to spend money when they have it. I find it hard to spend money even when I have it. I have to struggle with my instincts to save money rather than spend it, even when I know it makes no sense at all. You may have come across me at the 99p shop, agonising whether or not to make a single purchase.

[mlfc]

All mortgages legally have to allow overpayment now (they have to allow up to 10%/annum can be more), but they don't have to allow you to reclaim that money or take a payment holiday.

 

It all counts. Overpaying early on a mortgage saves a lot more in the long run.

 

I'd recommend from personal experience an offset mortgage such as First Direct offer. In the good times you stash the cash and pay less interest and if bad times arrive you can withdraw it all if you need to.

 

This transformed my finances a few years ago and then, when I was made redundant, I had enough cash to live on for a while and to invest in a business

[Cyclone]

I'd recommend from personal experience an offset mortgage such as First Direct offer. In the good times you stash the cash and pay less interest and if bad times arrive you can withdraw it all if you need to.

 

This transformed my finances a few years ago and then, when I was made redundant, I had enough cash to live on for a while and to invest in a business

 

Good advice if someone meets the criteria for such a mortgage.

[Solomon1]

I'd recommend from personal experience an offset mortgage such as First Direct offer

 

I had one of these and dint even know it!

 

It's AMAZING!

 

Finally making the most orrit