Hey, looking for some advice on priorities before our first baby arrives in September.
We've spent a lot on house renovations but done it all ourselves. Joint income is £3,500/month, both pensions are maxed.
Monthly outgoings (~£1,600–1,800):
Mortgage £630 (remortgaging end of month) | Council tax £137 | Fuel £200 | Gas & electric £112 | Broadband £30 | Water £40 | Food £150 | Phones £70 | Life & income insurance £20 | Discretionary £200–400
No debt outside the mortgage. Cars are fully owned, insurance paid annually.
Currently have £8k in a Trading 212 S&S ISA and aiming for £15k by September. Pensions aside, we've only recently started saving seriously. The ISA is flexible and can take out when we like with no penalty.
A few questions:
– Where's the best place to keep an emergency fund?
– Is Trading 212 the best option for the ISA?
– We're thinking of selling both cars to buy one newish car — reluctant to go on finance but also considering electric.
Any other advice welcome — just want to get more financially sound before the baby comes.
Posted by Ajay95A