What to do with up to £500 a month?

[Pulse]

Right,

I want to start making more money in addition to work, in order to get my mortgage paid off earlier, and just wondering what my best options would be.

Simply pay more into my current mortgage?
Get another property and rent it out?
Something else?

I wouldn't want to set aside more than £500 a month for anything, which is the only limiting factor.

[mgp1969]

invest in wine

if you invest in the stick market and it goes belly up, you get a load of useless paper

if you invest in wine and it goes belly up, you can drown your sorrows

[sunbeam_alpine]

Is there a lot of money in sticks?

Bugger - I've just cleared the garden this weekend. Transported 2 trailer loads of sticks (plus branches, twigs and leaves) to the dump.

Can anyone tell me how much money I've just thrown away?

Edited by sunbeam_alpine on Saturday 17th January 18:36

[Racingdude009]

sunbeam_alpine said:

Is there a lot of money in sticks?

Bugger - I've just cleared the garden this weekend. Transported 2 trailer loads of sticks (plus branches, twigs and leaves) to the dump.

Can anyone tell me how much money I've just thrown away?

Edited by sunbeam_alpine on Saturday 17th January 18:36

Maybe you should call your Stick Broker ?

[parapaul]

Mortgage gets my vote - especially if you can get a new deal now at a nice low rate. Overpay as much and as often as you can, it'll knock years off the repayments.

Essentially you're investing in property (albeit your own), which is generally a good thing.

[Lord Pikey]

Enjoy life my friend.

Im in a similar situation at the mo and im going to buy a M5 or a 996. And there is nothing you boring bds can do to stop me

LP

[mgp1969]

yes, but you must remember the value of sticks can go up and down

[s3fella]

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

hth

[Papoo]

Lord Pikey said:

Enjoy life my friend.

Im in a similar situation at the mo and im going to buy a M5 or a 996. And there is nothing you boring bds can do to stop me

LP

I like your style, Sir. Definately don't give it to charity, either.

[Pulse]

Lord Pikey said:

Enjoy life my friend.

Im in a similar situation at the mo and im going to buy a M5 or a 996. And there is nothing you boring bds can do to stop me

LP

Well I've already got a car I'm more than happy with. I'm 24, and got a 20k car, so I'm happy enough with that for now.

[Lord Pikey]

Pulse said:

Lord Pikey said:

Enjoy life my friend.

Im in a similar situation at the mo and im going to buy a M5 or a 996. And there is nothing you boring bds can do to stop me

LP

Well I've already got a car I'm more than happy with. I'm 24, and got a 20k car, so I'm happy enough with that for now.

Ok, then there is only one thing your missing....

Snorting Coke off a lady of the nights ass while listening to Pink Floyd in the Maldievs


LP

[Pulse]

Lord Pikey said:

Pulse said:

Lord Pikey said:

Enjoy life my friend.

Im in a similar situation at the mo and im going to buy a M5 or a 996. And there is nothing you boring bds can do to stop me

LP

Well I've already got a car I'm more than happy with. I'm 24, and got a 20k car, so I'm happy enough with that for now.

Ok, then there is only one thing your missing....

Snorting Coke off a lady of the nights ass while listening to Pink Floyd in the Maldievs


LP

Hmmm, now THAT is an idea! I'll just go and check if the missus says it's OK...

[Lord Pikey]

Pulse said:

Lord Pikey said:

Pulse said:

Lord Pikey said:

Enjoy life my friend.

Im in a similar situation at the mo and im going to buy a M5 or a 996. And there is nothing you boring bds can do to stop me

LP

Well I've already got a car I'm more than happy with. I'm 24, and got a 20k car, so I'm happy enough with that for now.

Ok, then there is only one thing your missing....

Snorting Coke off a lady of the nights ass while listening to Pink Floyd in the Maldievs


LP

Hmmm, now THAT is an idea! I'll just go and check if the missus says it's OK...

[cs02rm0]

Mortgage, I doubt you'd beat it with any other investment.

[Alfa_75_Steve]

Pulse said:

Lord Pikey said:

Enjoy life my friend.

Im in a similar situation at the mo and im going to buy a M5 or a 996. And there is nothing you boring bds can do to stop me

LP

Well I've already got a car I'm more than happy with. I'm 24, and got a 20k car, so I'm happy enough with that for now.

£20k?!

I see a Corsa and an Astra in your profile.

Nothing worth £20k....

[Pferdestarke]

Lord Pikey said:

Pulse said:

Lord Pikey said:

Enjoy life my friend.

Im in a similar situation at the mo and im going to buy a M5 or a 996. And there is nothing you boring bds can do to stop me

LP

Well I've already got a car I'm more than happy with. I'm 24, and got a 20k car, so I'm happy enough with that for now.

Ok, then there is only one thing your missing....

Snorting Coke off a lady of the nights ass while listening to Pink Floyd in the Maldievs


LP

No, no, no, you are wrong I'm afraid! What you meant to say was tucking in to a rib of beef Sunday dinner whilst balls deep in an 18 year old cheerleader, listening to Phil Collins Sussudio on Richard Branson's private island.

[Fatboy]

haworthlloyd1 said:

same as anything it depends on HOW MUCH RISK you are willing to take with your money - if no risk pay off the mortgage, however if it is a tracker it will only be a few measly percent anyway - therefore you aren't going to make any money but you will save money.

people always have an aversion to the stock market mainly because they don't do the research.

People have an aversion to the stock market because even top experts struggle to get consistent good returns from it, so it is very daunting for those of us who don't have any real experience with it...

[Alfa_75_Steve]

haworthlloyd1 said:

same as anything it depends on HOW MUCH RISK you are willing to take with your money - if no risk pay off the mortgage, however if it is a tracker it will only be a few measly percent anyway - therefore you aren't going to make any money but you will save money.

people always have an aversion to the stock market mainly because they don't do the research.

Surely paying off big chunks of the mortgage now is a good idea, as it'll mostly be clearing outstanding capital, meaning significant interest savings when the rates start to creep back up?

[flemke]

Pulse said:

Right,

I want to start making more money in addition to work, in order to get my mortgage paid off earlier, and just wondering what my best options would be.

Simply pay more into my current mortgage?
Get another property and rent it out?
Something else?

I wouldn't want to set aside more than £500 a month for anything, which is the only limiting factor.

What sort of interest rate is on your mortgage, and is it due to be reset in the foreseeable future?

[Pulse]

flemke said:

Pulse said:

Right,

I want to start making more money in addition to work, in order to get my mortgage paid off earlier, and just wondering what my best options would be.

Simply pay more into my current mortgage?
Get another property and rent it out?
Something else?

I wouldn't want to set aside more than £500 a month for anything, which is the only limiting factor.

What sort of interest rate is on your mortgage, and is it due to be reset in the foreseeable future?

We're only just over 1 year in to our 5 year fixed rate @ 5.99% unfortunately.